Quarterly report pursuant to Section 13 or 15(d)

Note 20 - Income Taxes

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Note 20 - Income Taxes
3 Months Ended
Feb. 28, 2022
Notes to Financial Statements  
Income Tax Disclosure [Text Block]

20.

INCOME TAXES

 

For the three months ended February 28, 2022 and 2021, the Company recorded an income tax benefit of $0.1 million and $0, respectively. For the three months ended February 28, 2022 and 2021, the effective tax rate was 3.59% and 0%, respectively. The Company’s tax rate differs from the statutory rate of 21.0% due to the effects of state taxes net of federal benefit, the foreign tax rate differential as a result of Byrna South Africa, effects of permanent non-deductible expenses, the recording of a valuation allowance against the deferred tax assets generated in the current period, and other effects.