v3.26.3
Note 10 - Income Taxes (Tables)
12 Months Ended
Jun. 30, 2026
Notes Tables  
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]
  

2026

  

2025

 

Current:

        

Federal

 $1,398,426  $641,718 

State

  602,608   34,132 

Total Current

  2,001,034   675,850 
         

Deferred:

        

Federal

  207,938   - 

State

  (258,973)  - 

Total Deferred

  (51,035)  - 
         

Total Provision

 $1,949,999  $675,850 
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]
  

2026

 
  

Amount

  

Percent

 

Federal income tax expense at the statutory rate

 $1,999,092   21.00%

State and local income taxes, net of Federal income tax effect

  281,123   3.00%

Foreign tax effects

  -   0.00%

Effect of changes in tax laws or rates enacted in the current period

  -   0.00%

Effect of cross-border tax laws

  -   0.00%

Tax credits

  (357,130)  (3.80)%

Change in valuation allowance

  -   0.00%

Nontaxable/nondeductible items

        

Non-deductible officer compensation

  148,143   1.60%

Other, net

  11,154   0.10%

Change in unrecognized tax benefits

  -   0.00%

Other adjustments, net

        

Deferred tax liability adjustment

  106,595   1.10%

Other, net

  (238,978)  (2.50)%
         

Income tax provision (benefit)

 $1,949,999   20.48%
  

2025

 
     

Expected income tax expense (benefit)

 $1,465,405 

State income tax expense (benefit)

  348,906 

Federal tax credits

  (1,109,000)

Officer life insurance

  46,249 

Unrealized gain/loss

  (19,923)

Meals and entertainment

  6,329 

Stock expenses

  18,933 

Officer salary (162m limit)

  160,688 

NOL expiry

  509,109 

Other permanent differences

  279,256 

Change in deferred tax asset/liability

  (1,030,102)
     

Total income tax expense/benefit

 $675,850 
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]
  

2026

  

2025

 

Deferred tax assets:

        

NOL carryover

 $889,461  $1,029,290 

Accrued bonus

  144,590   98,278 

Allowance for bad debts

  63,062   63,034 

Accrued expense

  32,292   45,180 

Capital loss carryover

  37,498   38,622 

Tax credits

  271,005   - 

Total deferred tax assets

  1,437,908   1,274,404 
         

Deferred tax liabilities:

        

Amortization

  (1,312,200)  (1,249,542)

Depreciation

  (74,673)  (156,837)

Total deferred tax liabilities

  (1,386,873)  (1,406,379)

Valuation allowance

  -   - 

Net deferred tax asset (liability)

 $51,035  $(131,975)