Note 13 - Income Taxes

3 Months Ended

Dec. 31, 2019

Notes to Financial Statements

Income Tax Disclosure [Text Block]

13. INCOME TAXES

For the

three

months ended

December 31, 2019,

the Company recorded income tax expense of

$172,390

reflecting an effective tax rate of

21.8%.

For the

three

months ended

December 31, 2018,

the Company recorded an income tax expense of

$283,003

reflecting an effective tax rate of

21.1%.

 The Company continues to maintain a partial valuation allowance against its deferred tax assets as the Company believes that the negative evidence that it will be able to recover these net deferred tax assets outweighs the positive evidence.

Accounting Standards Codification Topic

740,

Accounting for Uncertainty in Income Taxes

, requires the Company to recognize in its consolidated financial statements uncertainties in tax positions taken that

may

not

be sustained upon examination by the taxing authorities. If interest or penalties are assessed, the Company would recognize these charges as income tax expense. The Company has

not

recorded any income tax expense or benefit for uncertain tax positions.