Income Tax Disclosure [Text Block] |
The income tax provision charged to operations for the years ended December 31, 2014, 2013 and 2012 was as follows: Ìý | Ìý |
| Ìý | Ìý |
| Ìý | Ìý |
| Ìý |
| Ìý | Ìý | Ìý | Ìý | Ìý | Ìý | Ìý | Ìý | Ìý | Ìý | Ìý | Ìý |
| Ìý | $ | 17,243,130 | Ìý | Ìý | $ | 13,381,265 | Ìý | Ìý | $ | 10,046,442 | Ìý |
| Ìý | Ìý | 398,401 | Ìý | Ìý | Ìý | 327,730 | Ìý | Ìý | Ìý | 241,402 | Ìý | Ìý | Ìý | Ìý | 17,641,531 | Ìý | Ìý | Ìý | 13,708,995 | Ìý | Ìý | Ìý | 10,287,844 | Ìý |
| Ìý | Ìý | (974,997 | ) | Ìý | Ìý | (784,925 | ) | Ìý | Ìý | (612,776 | ) | Ìý | Ìý | $ | 16,666,534 | Ìý | Ìý | $ | 12,924,070 | Ìý | Ìý | $ | 9,675,068 | Ìý | The Trust is taxed as if it were a corporation. Total income tax expense differed from the amounts computed by applying the U.S. Federal income tax rate of 35% to income before Federal income taxes as a result of the following: Ìý | Ìý |
| Ìý | Ìý |
| Ìý | Ìý |
| Ìý | Computed tax expense at the statutory rate
| Ìý | $ | 18,001,044 | Ìý | Ìý | $ | 14,049,902 | Ìý | Ìý | $ | 10,263,010 | Ìý | Reduction in income taxes resulting from:
| Ìý | Ìý | Ìý | Ìý | Ìý | Ìý | Ìý | Ìý | Ìý | Ìý | Ìý | Ìý |
| Ìý | Ìý | (1,569,762 | ) | Ìý | Ìý | (1,317,177 | ) | Ìý | Ìý | (799,957 | ) |
| Ìý | Ìý | 379,283 | Ìý | Ìý | Ìý | 312,340 | Ìý | Ìý | Ìý | 227,718 | Ìý |
| Ìý | Ìý | (144,031 | ) | Ìý | Ìý | (120,995 | ) | Ìý | Ìý | (15,703 | ) | Ìý | Ìý | $ | 16,666,534 | Ìý | Ìý | $ | 12,924,070 | Ìý | Ìý | $ | 9,675,068 | Ìý | The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and liabilities at December 31, 2014 and 2013 are as follows: Ìý | Ìý |
| Ìý | Ìý |
| Ìý | Basis difference in pension plan liability
| Ìý | $ | 269,271 | Ìý | Ìý | $ | (69,659 | ) | Total deferred tax asset (liability)
| Ìý | Ìý | 269,271 | Ìý | Ìý | Ìý | (69,659 | ) | Ìý | Ìý | Ìý | Ìý | Ìý | Ìý | Ìý | Ìý | Ìý | Basis differences in real estate acquired through foreclosure
| Ìý | Ìý | 237,697 | Ìý | Ìý | Ìý | 237,697 | Ìý | Deferred installment revenue on land sales for tax purposes
| Ìý | Ìý | 324,714 | Ìý | Ìý | Ìý | 1,366,519 | Ìý | Total deferred tax liability
| Ìý | Ìý | 562,411 | Ìý | Ìý | Ìý | 1,604,216 | Ìý | Net deferred tax liability
| Ìý | $ | 293,140 | Ìý | Ìý | $ | 1,673,875 | Ìý | The Trust files a U. S. Federal income tax return. With few exceptions, the Trust is no longer subject to U. S. Federal income tax examination by tax authorities for years before 2011.
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