v3.26.1
Note 8 - Income Tax
 6 Months Ended
Jun. 30, 2026
Notes to Financial Statements  
Income Tax Disclosure [Text Block]

8.

Income Tax –

 

  

For the Three Months Ended, June 30,

 
  

2026

  

2025

 

Income before provision for income taxes

 $1,293,936  $183,212 

Provision for income taxes

  289,000   38,430 

Effective tax rates

  22.3%  21.0%

 

 

  

For the Six Months Ended, June 30,

 
  

2026

  

2025

 

Income before provision for income taxes

 $2,551,425  $1,249,021 

Provision for income taxes

  575,000   322,000 

Effective tax rates

  22.5%  25.8%

 

The effective tax rate increased for the three months ended June 30, 2026, as compared to the same periods in 2025. The increase was primarily due to an increase due to changes in the state apportionment in the current period. 

 

The effective tax rate decreased for the six months ended June 30, 2026, as compared to the same periods in 2025. The decrease was primarily due to higher permanent differences in the prior-year period (decreasing the rate by approximately 1.6%) and decrease due to changes in the state apportionment in the current period (reducing the rate by approximately 0.6%).