Annual report pursuant to Section 13 and 15(d)

Income Taxes - Effective Tax Rate Reconciliation (Details)

v3.19.1
Income Taxes - Effective Tax Rate Reconciliation (Details) - USD ($)
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Income Tax Expense Reconciliation      
Tax at U.S. statutory rates $ 3,459,464 $ 502,690 $ (3,125,382)
State income taxes, net of federal tax benefit 268,924 65,546 (48,842)
State valuation allowance (314,505) 8,498 95,961
Life insurance cash surrender value 0 0 503,700
Manufacturing exemption 0 (116,980) 0
Stock option compensation (39,401) 226 45,929
Rate change effects 0 (380,961) 0
Other, net 1,728 58,120 330,634
Total $ 3,376,210 $ 137,139 $ (2,198,000)
Effective Tax Rate Reconciliation      
Tax at U.S. statutory rates 21.00% 34.00% 34.00%
State income taxes, net of federal tax benefit 1.60% 4.40% 0.50%
State valuation allowance (1.90%) 0.60% (1.00%)
Life insurance cash surrender value 0.00% 0.00% (5.50%)
Manufacturing exemption 0.00% (7.90%) 0.00%
Stock option compensation (0.20%) 0.00% (0.50%)
Rate change effects 0.00% (25.80%) 0.00%
Other, net 0.00% 4.00% (3.60%)
Total 20.50% 9.30% 23.90%