10. Income Taxes: Schedule of Effective Income Tax Rate Reconciliation (Tables)

12 Months Ended

May 31, 2024

Tables/Schedules

Schedule of Effective Income Tax Rate Reconciliation

	2024	2023
Computed tax provision at the expected statutory rate	$2,293,400	$1,576,100
State income tax - net of Federal tax benefit	-	(1,600)
Tax effect of permanent differences:
Research tax credits	(407,675)	(283,600)
Foreign-derived intangible income deduction	(142,100)	(66,900)
Stock option costs	48,500	-
Other permanent differences	2,800	900
Other	127,075	(6,900)
	$1,922,000	$1,218,000
Effective income tax rate	17.6%	16.2%