Note 16 - Income Taxes

9 Months Ended

May 31, 2022

Notes to Financial Statements

Income Tax Disclosure [Text Block]

16.         INCOME TAXES

Income tax expense for the three and nine months ended May 31, 2022 was $604,314 and $1,260,437, respectively, compared to $276,338 and $929,588, respectively, for the three and nine months ended May 31, 2021. The expense was largely due to foreign operations. The Company has federal and state tax credit carry forwards, net operating loss carry forwards and foreign tax carry forwards. The Company has recorded a full valuation allowance against the U.S. deferred tax assets as of May 31, 2022 and August 31, 2021.