v3.26.1
Note 8 - Income Taxes (Tables)
12 Months Ended
Dec. 31, 2025
Notes Tables  
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]
   

2025

   

2024

 

Income Tax Expense

               

Federal

  $ -     $ -  

State

    100,722       381,680  

Deferred Income Taxes

    148,594       (50,555 )

Total Income Tax Expense

  $ 249,316     $ 331,125  
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

Rate reconciliation:

 

2025

   

2024

 
                                 

Income taxes computed at the federal statutory rate

  $ 121,168       21.00 %   $ (860,304 )     21.00 %
                                 

State income taxes, net of federal benefit (a)

    87,345       15.14 %     17,761       -0.43 %

Nontaxable or nondeductible items

                               

Nondeductible goodwill impairment

    -       0.00 %     1,045,457       -25.52 %

Other

    (476 )     -0.08 %     (3,770 )     -0.09 %
                                 

Other adjustments

    41,279       7.15 %     131,981       3.22 %

Total

  $ 249,316       43.21 %   $ 331,125       -1.82 %
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]
   

2025

   

2024

 

Deferred Tax Assets

               

Accrued Expenses

  $ (334,036 )   $ (124,174 )

Deferred Compensation

    (60,666 )     (73,247 )

Other

    (441,062 )     (316,965 )

State NOL

    (632,539 )     -  

Federal NOL

    (6,925,267 )     (5,315,643 )

Sec. 163(j) business interest limitation

    (5,862,893 )     (5,901,243 )

Leases

    (402,350 )     (318,179 )

Total Deferred Tax Assets

    (14,658,813 )     (12,049,451 )
                 

Deferred Tax Liabilities

               

Fixed Assets

    34,053,523       30,797,486  

Intangible Assets

    2,001,326       2,528,632  

Investments

    562,910       593,993  

Unrealized Gain on SWAP

    37,757       135,861  

Contract Assets

    392,603       416,359  

Leases

    395,397       311,317  

Total Deferred Tax Liabilities:

    37,443,516       34,783,648  
                 

Total Net Deferred Taxes

  $ 22,784,703     $ 22,734,197  
Schedule of Income Tax Net of Refunds [Table Text Block]
   

2025

   

2024

 
                 

U.S. Federal

  $ -     $ -  

State:

               

Minnesota

    1,037,209       845,000  

Iowa

    -       278,024  
                 

Total cash paid for income taxes (net of refunds)

  $ 1,037,209     $ 1,123,024