Note 7 - Federal, State and Local Income Taxes (Tables)

12 Months Ended

Apr. 30, 2018

Notes Tables

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

	Fiscal Years Ended April 30,
($ in thousands)	2018			2017			2016
Current tax expense:
Federal	$	3,853		$	6,360		$	3,799
State and local		365			469			219
Current tax expense		4,218			6,829			4,018
Deferred tax expense (benefit):
Federal		(7,021	)		(1,299	)		(839	)
State and local		(37	)		(412	)		(462	)
Deferred tax expense (benefit):		(7,058	)		(1,711	)		(1,301	)
Income tax provision	$	(2,840	)	$	5,118		$	2,717

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

	Fiscal Years Ended April 30,
($ in thousands)	2018			2017
Federal tax liability (benefit):
Deferred gain on deconsolidation of EAM	$	10,658		$	17,742
Deferred non-cash post-employment compensation		(372	)		(619	)
Depreciation and amortization		119			454
Unrealized loss (gain) on securities held for sale		208			249
Deferred charges		(331	)		(415	)
Other		210			(200	)
Total federal tax liability		10,492			17,211
State and local tax liabilities (benefits):
Deferred gain on deconsolidation of EAM		1,299			1,206
Deferred non-cash post-employment compensation		(45	)		(42	)
Depreciation and amortization		15			31
Other		(47	)		(29	)
Total state and local tax liabilities		1,222			1,166
Deferred tax liability, long-term	$	11,714		$	18,377

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

	Fiscal Years Ended April 30,
	2018			2017			2016
U.S. statutory federal tax rate		30.33	%		35.00	%		35.00	%
Increase (decrease) in tax rate from:
Effect on deferred tax liabilities from federal tax rate reduction to 21%		-54.51	%		-			-
State and local income taxes, net of federal income tax benefit		0.70	%		-0.88	%		-3.39	%
Effect of dividends received deductions		-0.49	%		-0.33	%		-0.41	%
Domestic production tax credit		-			-0.17	%		-0.33	%
Other, net		0.10	%		-0.57	%		-3.72	%
Effective income tax rate		-23.87	%		33.05	%		27.15	%