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Income Taxes (Tables) | 12 Months Ended
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Sep. 30, 2022
Income Tax Disclosure [Abstract] |
Schedule of Income Tax Expense (Benefit) | Income tax expense (benefit) consisted of the following (in thousands):
| Years Ended September 30,
| 2022 |  | 2021 |  | 2020
Current |  |  |  |  |
Federal | $ | 8,335 |  |  | $ | 4,598 |  |  | $ | 215 |
State and local | 2,656 |  |  | 644 |  |  | 560 |
Total current income tax expense | 10,991 |  |  | 5,242 |  |  | 775 |
Deferred |  |  |  |  |
Federal | 2,080 |  |  | (161) |  |  | (1,248) |
State and local | 1,000 |  |  | (1,092) |  |  | (20) |
Total deferred income tax expense (benefit) | 3,080 |  |  | (1,253) |  |  | (1,268) |
Total income tax expense (benefit) | $ | 14,071 |  |  | $ | 3,989 |  |  | $ | (493) |
Schedule of Effective Income Tax Rate Reconciliation | Income tax expense (benefit) differs from the “expected” income tax expense computed by applying the U.S. federal statutory rate to earnings before income taxes for the years ended September 30 as a result of the following (in thousands):
| 2022 |  | 2021 |  | 2020
Federal statutory income tax expense (benefit) | $ | 12,628 |  |  | $ | 7,169 |  |  | $ | (1,429) |
State income taxes, net of federal benefit | 1,801 |  |  | 716 |  |  | 253 |
Permanent differences | 96 |  |  | (434) |  |  | 395 |
Change in state tax rate | 896 |  |  | (804) |  |  | — |
Change in valuation allowance | 343 |  |  | (632) |  |  | 1,273 |
Tax credits | (1,796) |  |  | (1,207) |  |  | (945) |
Other | 103 |  |  | (819) |  |  | (40) |
Total income tax expense (benefit) | $ | 14,071 |  |  | $ | 3,989 |  |  | $ | (493) |
Schedule of Deferred Tax Assets and Liabilities | The significant components of the Company’s deferred tax assets and liabilities were as follows (in thousands):
| September 30,
| 2022 |  | 2021
Deferred tax assets: |  |  |
Net operating loss carryforwards | $ | 1,022 |  |  | $ | 664 |
Capital loss carryforwards | 234 |  |  | 899 |
Right-of-use assets | 626 |  |  | 335 |
Accrued expenses | 240 |  |  | 148 |
Stock-based compensation | 569 |  |  | — |
Other | — |  |  | 6 |
Valuation allowance | (984) |  |  | (641) |
| 1,707 |  |  | 1,411 |
Deferred tax liabilities: |  |  |
Intangibles | (21,927) |  |  | (12,174) |
Property and equipment | (10,119) |  |  | (8,132) |
Prepaid expenses | (205) |  |  | (242) |
Other | (18) |  |  | — |
| (32,269) |  |  | (20,548) |
| $ | (30,562) |  |  | $ | (19,137) |

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- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32639-109319 + Details
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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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