Income Tax	6 Months Ended
	Oct. 31, 2022
Income Tax [Abstract]
Income Tax	Note F - Income Tax The income tax expense was $1,255,967 for the three month period ended October 31, 2022 compared to an income tax expense of $1,513,512 for the same period in the prior fiscal year. The Company’s effective tax rate was 59.03% and 32.45% for the quarters ended October 31, 2022 and 2021, respectively. The increase in effective tax rate is due primarily to an increase in valuation allowance during the three month period ended October 31, 2022. The income tax expense was $1,785,367 for the six month period ended October 31, 2022 compared to an income tax expense of $2,270,457 for the same period in the prior fiscal year. The Company’s effective tax rate was 44.26% and 15.97% for the six month period ended October 31, 2022 and 2021, respectively. The decrease in income tax expense for the six month period ended October 31, 2022 compared to the same period in the previous year is due to a decrease in income recognized in the current year compared to the previous year. The increase in effective tax rate for the six month period ended October 31, 2022 is due primarily to tax exempt income recognized in the previous year. As described in Note E, the Company received a PPP Loan under the CARES Act of $6,282,973. For federal income tax purposes, the CARES Act expressly provides that any forgiveness or cancellation of all or part of such loans will not be treated as income for tax purposes. On January 6, 2021 the IRS issued Revenue Ruling 2021-02 allowing deductions for the payments of eligible expenses when such payments would result in the forgiveness of a loan under the PPP. The ruling supersedes previous IRS guidance stating that such deductions would be disallowed. The Company received full forgiveness of its PPP Loan on July 9, 2021. In accordance with the CARES Act and IRS Revenue Ruling 2021-02, the loan forgiveness amount was excluded from income for tax purposes. After SigmaTron’s merger with Wagz, Inc. (“Wagz”) effective December 31, 2021, SigmaTron and Wagz (collectively, the “Company”) will file tax returns on a consolidated basis for periods ending after the merger. In evaluating the consolidated group’s ability to recover its deferred tax assets on a consolidated basis, and considering historical operating results of both companies, the consolidated group’s deferred tax assets are not more likely than not to be realized. Therefore, a valuation allowance was established on the group’s U.S. deferred tax assets during fiscal year 2022. The Company has established a valuation allowance of $4,627,775 on its federal and state NOL carryforwards and other U.S. deferred tax assets as of October 31, 2022. The Company had also established a valuation allowance of $452,484 on NOLs attributable to its Vietnam subsidiary as of October 31, 2022. Based on historical losses and forecasted future earnings, the Company had determined that the tax benefit from such assets are more likely than not to be realized. The Company’s valuation allowance was $5,080,259 and $4,543,819 as of October 31, 2022 and April 30, 2022, respectively. Note F - Income Tax - Continued The Company has not changed its plans to indefinitely reinvest the earnings of the Company’s foreign subsidiaries. The cumulative amount of unremitted earnings for which U.S. income taxes have not been recorded is $11,255,000 as of October 31, 2022.