Note 8 - Income Taxes (Tables)

12 Months Ended

Dec. 31, 2017

Notes Tables

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

	201 7			201 6		201 5
Current provision:
Federal	$	3,090,997		$	3,108,894	$	3,045,292
State		309,249			486,565		482,186
		3,400,246			3,595,459		3,527,478
Deferred provision (benefit):
Federal		(665,181	)		183,520		212,563
State		(23,692	)		21,591		76,607
		(688,873	)		205,111		289,170
	$	2,711,373		$	3,800,570	$	3,816,648

Schedule of Income Tax Expense from Changes in Tax Rate [Table Text Block]

Transition tax on deemed repatriation of certain foreign earnings*	$	514,454
Foreign Withholding Taxes *		290,128
Remeasuring deferred tax position at the lowered income tax rate**		(463,800	)
	$	340,782

Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block]

	201 7			201 6			201 5
United States	$	6,372,585		$	9,070,894		$	9,272,854
United Kingdom		(171,608	)		(81,987	)		(43,567	)
Canada		1,055,783			1,034,027			813,824
Australia		(88,096	)		82,622			48,633
Spain		(5,540	)		97,273			127,309
	$	7,163,124		$	10,202,829		$	10,219,053

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

	201 7		201 6
Deferred income tax assets:
Capitalized inventory costs	$	198,616	$	265,454
Warrants and share-based compensation		29,047		44,151
Accrued expenses, reserves, and other		44,075		65,631
Total deferred income tax assets	$	271,738	$	375,236
Deferred income tax liabilities:
Property and equipment depreciation	$	1,008,485	$	1,728,265
Goodwill and other intangible assets amortization		155,175		227,767
Transition tax on deemed repatriation of foreign earnings		473,298		-
Total deferred income tax liabilities	$	1,636,958	$	1,956,032

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

	201 7			201 6			201 5
Statutory rate – Federal US income tax		34	%		34	%		34	%
State and local taxes		6	%		6	%		6	%
Impact of Tax Act		4	%		-			-
Non-U.S. income tax at different rates		(1	%)		-			-
Domestic production activities deduction		(2	%)		(1	%)		(1	%)
Other, net		(3	%)		(2	%)		(2	%)
Effective rate		38	%		37	%		37	%