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INCOME TAXES
 6 Months Ended
Mar. 31, 2012
Income Tax Disclosure [Abstract]  
Income Tax Disclosure [Text Block]
10. INCOME TAXES

 

Income tax expense on continuing operations for the periods presented differs from the “expected” federal income tax expense computed by applying the U.S. federal statutory rate of 34% to earnings before income taxes for the three months ended December 31, as a result of the following:

 

    For the Three Months     For the Six Months  
    Ended March 31,     Ended March 31,  
    2012     2011     2012     2011  
Computed expected tax expense   $ 1,153     $ 1,651     $ 2,340     $ 2,836  
                                 
State income taxes     35       29       70       59  
Stock option disqualifying dispositions and other permanent differences     (54 )     (107 )     (68 )     (186 )
Total income tax expense   $ 1,134     $ 1,573     $ 2,342     $ 2,709  

 

Included in the Company’s deferred tax liabilities at March 31, 2012 is approximately $15.1 million representing the tax effect of indefinite lived intangible assets from club acquisitions which are not deductible for tax purposes. These deferred tax liabilities will remain in the Company’s balance sheet until the related clubs are sold.