Note 8 - Federal, State and Local Income Taxes (Tables)

9 Months Ended

Jan. 31, 2025

Notes Tables

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

	Three Months Ended January 31,						Nine Months Ended January 31,
($ in thousands)	2025			2024			2025		2024
Current tax expense:
Federal	$	1,391		$	1,195		$	4,013	$	3,657
State and local		273			469			939		979
Current tax expense		1,664			1,664			4,952		4,636
Deferred tax expense (benefit):
Federal		311			288			797		(18	)
State and local		(2	)		(107	)		9		(171	)
Deferred tax expense (benefit):		309			181			806		(189	)
Income tax provision	$	1,973		$	1,845		$	5,758	$	4,447

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

	January 31,			April 30,
($ in thousands)	2025			2024
Federal tax liability (benefit):
Deferred gain on deconsolidation of EAM	$	10,669		$	10,669
Deferred non-cash post-employment compensation		(372	)		(372	)
Depreciation and amortization		107			73
Unrealized gain/(loss) on securities held for sale		1,323			916
Right of Use Asset		(123	)		(128	)
Deferred charges		(156	)		(138	)
Other		(14	)		(424	)
Total federal tax liability		11,434			10,596
State and local tax liabilities (benefits):
Deferred gain on deconsolidation of EAM		2,291			2,073
Deferred non-cash post-employment compensation		(80	)		(72	)
Depreciation and amortization		23			13
Unrealized gain/(loss) on securities held for sale		284			178
Other		(104	)		105
Total state and local tax liabilities		2,414			2,297
Deferred tax liability, long-term	$	13,848		$	12,893

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

	Nine Months Ended January 31,
	2025			2024
U.S. statutory federal tax rate		21.00	%		21.00	%
Increase (decrease) in tax rate from:
State and local income taxes, net of federal income tax benefit		4.85	%		3.04	%
Effect of dividends received deductions		(0.25	)%		(0.24	)%
Other, net		0.00	%		0.00	%
Effective income tax rate		25.60	%		23.80	%