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

12 Months Ended

Apr. 30, 2019

Notes Tables

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

	Fiscal Years Ended April 30,
($ in thousands)	2019			2018			2017
Current tax expense:
Federal	$	2,964		$	3,853		$	6,360
State and local		600			365			469
Current tax expense		3,564			4,218			6,829
Deferred tax expense (benefit):
Federal		(650	)		(7,021	)		(1,299	)
State and local		1,162			(37	)		(412	)
Deferred tax expense (benefit):		512			(7,058	)		(1,711	)
Income tax provision	$	4,076		$	(2,840	)	$	5,118

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

	Fiscal Years Ended April 30,
($ in thousands)	2019			2018
Federal tax liability (benefit):
Deferred gain on deconsolidation of EAM	$	10,669		$	10,658
Deferred non-cash post-employment compensation		(372	)		(372	)
Depreciation and amortization		130			119
Unrealized gain on securities held for sale		446			208
Deferred charges		(354	)		(331	)
Other		(279	)		210
Total federal tax liability		10,240			10,492
State and local tax liabilities (benefits):
Deferred gain on deconsolidation of EAM		2,530			1,299
Deferred non-cash post-employment compensation		(74	)		(45	)
Depreciation and amortization		40			15
Other		(112	)		(47	)
Total state and local tax liabilities		2,384			1,222
Deferred tax liability, long-term	$	12,624		$	11,714

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

	Fiscal Years Ended April 30,
	2019			2018			2017
U.S. statutory federal tax rate		21.00	%		30.33	%		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		6.02	%		0.70	%		-0.88	%
Effect of dividends received deductions		-0.24	%		-0.49	%		-0.33	%
Domestic production tax credit		-			-			-0.17	%
Other, net		0.03	%		0.10	%		-0.57	%
Effective income tax rate		26.81	%		-23.87	%		33.05	%