Annual report pursuant to Section 13 and 15(d)

Note 9 - Income Taxes (Tables)

v3.7.0.1
Note 9 - Income Taxes (Tables)
12 Months Ended
Dec. 31, 2016
Notes Tables  
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]
    December 31,
    2016   2015
Current provision (benefit):                
Federal   $
22,800
    $
(208,900
)
State, net of state tax credits    
20,900
     
(67,800
)
Total current provision (benefit)    
43,700
     
(276,700
)
                 
Deferred provision:                
Federal    
97,400
     
40,800
 
State    
23,300
     
-
 
Total deferred provision    
120,700
     
40,800
 
                 
Total income tax provision (benefit)   $
164,400
    $
(235,900
)
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]
    December 31,
    2016   2015
         
Deferred revenue   $
1,509,400
    $
1,988,200
 
Deferred franchise costs    
(553,900
)    
(664,000
)
Allowance for doubtful accounts    
51,400
     
1,781,000
 
Accrued expenses    
57,400
     
74,900
 
Goodwill - Component 1    
(120,700
)    
-
 
Goodwill - Component 2    
86,800
     
87,000
 
Restricted stock compensation    
(30,800
)    
(44,100
)
Nonqualified stock options    
182,100
     
109,600
 
Deferred rent    
629,600
     
209,700
 
Lease abandonment    
108,900
     
-
 
Net operating loss carryforwards    
8,924,800
     
1,849,100
 
Tax credits    
14,000
     
14,200
 
Charitable contribution carryover    
6,500
     
1,300
 
Asset basis difference related to property and equipment    
630,900
     
167,500
 
     
11,496,400
     
5,574,400
 
Less valuation allowance    
(11,617,100
)    
(5,574,400
)
Net non-current deferred tax liability   $
(120,700
)   $
-
 
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]
    For the Years Ended December 31,
    2016   2015
    Amount   Percent   Amount   Percent
Expected federal tax expense (benefit)   $
(5,106,100
)    
(34.00
)%   $
(3,071,300
)    
(34.00
)%
State tax provision, net of federal benefit    
(735,500
)    
(4.90
)    
(387,500
)    
(4.29
)
Effect of increase in valuation allowance    
6,042,900
     
40.24
     
3,519,800
     
38.97
 
Permanent differences    
108,800
     
0.72
     
(58,800
)    
(0.65
)
Uncertain tax positions    
-
     
-
     
(46,500
)    
(0.51
)
Effect of changed state rates for deferred    
-
     
-
     
(80,100
)    
(0.89
)
Other, net    
(145,700
)    
(0.97
)    
(111,500
)    
(1.23
)
Provision (Benefit)   $
164,400
     
1.09
%   $
(235,900
)    
(2.60
)%
Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block]
    2016   2015
    Tax   Interest/
penalties
  Tax   Interest/
penalties
Unrecognized tax benefit - January 1   $
32,600
    $
33,000
    $
91,700
    $
30,000
 
Gross increases - tax positions in prior period    
-
     
-
     
-
     
3,000
 
Gross decreases - tax positions in prior period    
(19,400
)    
(6,200
)    
(59,100
)    
-
 
Unrecognized tax benefit - December 31   $
13,200
    $
26,800
    $
32,600
    $
33,000