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Income Taxes (Tables)

12 Months Ended

Sep. 30, 2024

Income Tax Disclosure [Abstract]

Schedule of Income Tax Expense

Income tax expense consisted of the following (in thousands):

			2024						2023						2022
Current
Federal			$	4,570					$	6,506					$	8,335
State and local			1,470						2,121						2,656
Total current income tax expense			6,040						8,627						10,991
Deferred
Federal			(5,522)						(1,294)						2,080
State and local			(928)						(487)						1,000
Total deferred income tax expense (benefit)			(6,450)						(1,781)						3,080
Total income tax expense (benefit)			$	(410)					$	6,846					$	14,071

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):

			2024												2023												2022
			Amount						%						Amount						%						Amount						%
Federal statutory income tax expense			$	547					21.0		%				$	7,549					21.0		%				$	12,628					21.0		%
State income taxes, net of federal benefit			223						8.6		%				1,620						4.5		%				1,801						3.0		%
Permanent differences			487						18.7		%				605						1.7		%				96						0.2		%
Change in tax rates			(109)						(4.2)		%				(255)						(0.7)		%				896						1.5		%
Change in valuation allowance			143						5.5		%				(176)						(0.5)		%				343						0.6		%
Tax credits			(2,291)						(87.8)		%				(2,131)						(5.9)		%				(1,796)						(3.0)		%
Other			590						22.6		%				(366)						(1.0)		%				103						0.2		%
Total income tax expense (benefit)			$	(410)					(15.7)		%				$	6,846					19.0		%				$	14,071					23.4		%

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,
			2024						2023
Deferred tax assets:
Net operating loss carryforwards			$	961					$	827
Capital loss carryforwards			535						651
Right-of-use assets			2,096						946
Accrued expenses			733						748
Stock-based compensation			1,629						1,185
Other			27						123
Valuation allowance			(951)						(808)
			5,030						3,672
Deferred tax liabilities:
Intangibles			(19,557)						(21,468)
Property and equipment			(7,875)						(11,085)
Prepaid expenses			(291)						(262)
			(27,723)						(32,815)
			$	(22,693)					$	(29,143)

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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://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
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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://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-2

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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://www.xbrl.org/2003/role/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 231
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

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