Annual report pursuant to Section 13 and 15(d)

Note 13 - Income Taxes (Tables)

v3.20.2
Note 13 - Income Taxes (Tables)
12 Months Ended
Jun. 30, 2020
Notes Tables  
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]
   
2020
   
2019
   
2018
 
Current:
                       
Federal
  $
2,432
    $
10,132
    $
10,289
 
State
   
8
     
1,237
     
1,689
 
Foreign
   
325
     
304
     
824
 
Total current
   
2,765
     
11,673
     
12,802
 
Deferred:
                       
Federal
   
181
     
(3,091
)    
174
 
State
   
2,368
     
(381
)    
(124
)
Foreign
   
(25
)    
(39
)    
(156
)
Total deferred
   
2,524
     
(3,511
)    
(106
)
Total Income tax expense
  $
5,289
    $
8,162
    $
12,696
 
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]
   
2020
   
2019
   
2018
 
                                                 
Expected income tax expense at U.S. federal income tax rate
  $
2,980
     
21.0
%   $
7,111
     
21.0
%   $
13,739
     
28.0
%
Increase (reduction) in income taxes resulting from:
                                               
State income taxes, net of federal benefit
   
159
     
1.1
%    
737
     
2.2
%    
1,263
     
2.6
%
Change in valuation allowance
   
2,534
     
17.9
%    
602
     
1.8
%    
42
     
0.1
%
Remeasurement of deferred taxes for changes in statutory U.S. tax rate
   
-
     
0.0
%    
-
     
0.0
%    
(2,651
)    
-5.4
%
Section 199 Qualified Production Activities deduction
   
-
     
0.0
%    
-
     
0.0
%    
(678
)    
-1.4
%
Section 250 Foreign Derived Intangible Income deduction
   
-
     
0.0
%    
(161
)    
-0.5
%    
-
     
0.0
%
Unrecognized tax benefits
   
(215
)    
-1.5
%    
26
     
0.1
%    
55
     
0.1
%
Stock-based compensation - forfeitures and exercises
   
17
     
0.1
%    
184
     
0.5
%    
570
     
1.2
%
Other, net
   
(186
)    
-1.3
%    
(337
)    
-1.0
%    
356
     
0.7
%
Actual income tax expense (and corresponding effective tax rate)
  $
5,289
     
37.3
%   $
8,162
     
24.1
%   $
12,696
     
25.9
%
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]
   
2020
   
2019
 
Deferred tax assets:
               
Leases
  $
32,184
    $
-
 
Employee compensation accruals
   
2,259
     
2,697
 
Stock-based compensation
   
670
     
715
 
Deferred rent
   
-
     
4,184
 
Net operating loss carryforwards
   
2,002
     
4,259
 
Property, plant and equipment
   
1,020
     
1,021
 
Other
   
2,825
     
2,341
 
Subtotal deferred tax assets
   
40,960
     
15,217
 
Less: Valuation allowance
   
(3,158
)    
(3,197
)
Total deferred tax assets
  $
37,802
    $
12,020
 
   
2020
   
2019
 
Operating lease right-of-use assets
  $
27,334
    $
-
 
Intangible assets other than goodwill
   
9,080
     
9,007
 
Commissions
   
2,207
     
1,974
 
Other
   
118
     
-
 
Total deferred tax liabilities
  $
38,739
    $
10,981
 
   
2020
   
2019
 
Other assets
  $
137
    $
2,108
 
Other non-current liabilities
   
1,074
     
1,069
 
Total net deferred tax asset (liability)
  $
(937
)   $
1,039
 
Schedule of Deferred Tax Assets Expiration with Respect to Net Operating Losses [Table Text Block]
   
Deferred
   
Net Operating Loss
 
   
Tax Assets
   
Carryforwards
 
Various U.S. state net operating losses, expiring between 2025 and 2040
  $
1,383
    $
25,501
 
Foreign capital losses, expiring between 2034 and 2040
  $
619
    $
2,335
 
Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block]
   
2020
   
2019
 
Beginning balance
  $
2,209
    $
2,187
 
Additions for tax positions taken during the current year
   
214
     
329
 
Additions for tax positions taken during the prior year
   
126
     
143
 
Reductions for tax positions taken during the prior year
   
-
     
-
 
Decreases related to settlements with taxing authorities
   
-
     
-
 
Reductions resulting from a lapse of the applicable statute of limitations
   
(616
)    
(450
)
Ending balance
  $
1,933
    $
2,209