Note 7 - Income Taxes (Tables)

12 Months Ended

Dec. 31, 2018

Notes Tables

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

	201 8			201 7			201 6
Current provision:
Federal	$	1,607,117		$	3,090,997		$	3,108,894
State		223,749			309,249			486,565
		1,830,866			3,400,246			3,595,459
Deferred provision (benefit):
Federal		(76,438	)		(665,181	)		183,520
State		(14,559	)		(23,692	)		21,591
		(90,997	)		(688,873	)		205,111
	$	1,739,869		$	2,711,373		$	3,800,570

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 8			201 7			201 6
United States	$	3,347,690		$	6,372,585		$	9,070,894
United Kingdom		(385,573	)		(171,608	)		(81,987	)
Canada		680,388			1,055,783			1,034,027
Australia		(2,454	)		(88,096	)		82,622
Spain		63,646			(5,540	)		97,273
	$	3,703,697		$	7,163,124		$	10,202,829

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

	201 8		201 7
Deferred income tax assets:
Capitalized inventory costs	$	179,535	$	198,616
Warrants and share-based compensation		29,047		29,047
Accrued expenses, reserves, and other		39,646		44,075
Total deferred income tax assets	$	248,228	$	271,738
Deferred income tax liabilities:
Property and equipment depreciation	$	889,719	$	1,008,485
Goodwill and other intangible assets amortization		159,435		155,175
Transition tax on deemed repatriation of foreign earnings		507,339		473,298
Total deferred income tax liabilities	$	1,556,493	$	1,636,958

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

	201 8			201 7			201 6
Statutory rate – Federal U.S. income tax		21	%		34	%		34	%
State and local taxes		5	%		6	%		6	%
Impact of Tax Act		5	%		4	%		-
Non-U.S. income tax at different rates		17	%		(1	%)		-
Domestic production activities deduction		-			(2	%)		(1	%)
Other, net		-			(3	%)		(2	%)
Effective rate		47	%		38	%		37	%