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INCOME TAXES (Tables) | 12 Months Ended
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Aug. 31, 2022
INCOME TAXES [Abstract] |
Deferred Tax Assets (Liabilities) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
(In thousands) |  | August 31, 2022 |  | August 31, 2021
Deferred tax assets (liabilities): |  | ​ |  |  | ​ |
Depreciation and depletion | ​ | $ | (2,061) | ​ | $ | (2,360)
Non-qualified stock options | ​ |  | 568 | ​ |  | 547
Accrued compensation | ​ | ​ | 279 | ​ | ​ | 141
Deferred revenues | ​ | ​ | 108 | ​ | ​ | 41
Other | ​ |  | 31 | ​ |  | 16
Net deferred tax liability | ​ | $ | (1,075) | ​ | $ | (1,615)
Statutory to Effective Income Tax Reconciliation | ​ Income taxes computed using the federal statutory income tax rate differs from the Company’s effective tax rate primarily due to the following for the fiscal years ended August 31: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended
​ |  | August 31, 2022 |  | August 31, 2021
Expected benefit from federal taxes at statutory rate of 21% for the years 2022 and 2021 | ​ | $ | 2,668 | ​ | $ | 5,584
State taxes, net of federal benefit | ​ | ​ | 456 | ​ | ​ | 973
Permanent and other differences | ​ | ​ | 4 | ​ | ​ | 4
Stock Compensation | ​ | ​ | 22 | ​ | ​ | (77)
Other | ​ | ​ | (64) | ​ | ​ | (4)
Total income tax expense | ​ | $ | 3,086 | ​ | $ | 6,480
​ | ​ | ​ | ​ | ​ | ​ | ​
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- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32537-109319 + Details
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- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32687-109319 + Details
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