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Income Taxes (Tables) | 12 Months Ended
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Sep. 30, 2018
Income Tax Disclosure [Abstract] |
Schedule of Provision for Income Tax | The provision (benefit) for income tax for the years ended September 30, 2018, 2017 and 2016 consists of the following:
(in thousands) | Fiscal Year Ended September 30,
| 2018 |  | 2017 |  | 2016
Current: |  |  |  |  |  |  |  |
Federal income tax | $ | 1,961 |  |  | $ | 102 |  |  | $ | 244 |
State income tax | 384 |  |  | — |  |  | — |
Total current | 2,345 |  |  | 102 |  |  | 244 |
Deferred: |  |  |  |  |  |  |  |
Federal income tax | (3,917 | ) |  | (3,286 | ) |  | 4,538 |
State income tax | 1,962 |  |  | (662 | ) |  | 739 |
Total deferred | (1,955 | ) |  | (3,948 | ) |  | 5,277 |
Provision (benefit) for income taxes | $ | 390 |  |  | $ | (3,846 | ) |  | $ | 5,521 |
Schedule of Income Tax Provision Attributable to Income from Continuing Operations | Income tax provision (benefit) attributable to income from continuing operations differed from the amount computed by applying the statutory federal income tax rate of 24.53%, based on a blended rate calculation, to income (loss) before income taxes for the fiscal year ended September 30, 2018 and 35% for the fiscal years ended September 30, 2017 and 2016 as a result of the following:
(in thousands) | Fiscal Year Ended September 30,
| 2018 |  | 2017 |  | 2016
Tax at the statutory federal rate | $ | 3,198 |  |  | $ | (4,670 | ) |  | $ | 4,382 |
Increase (decrease) resulting from: |  |  |  |  |  |  |  |
State income taxes, net of federal benefit | 857 |  |  | (402 | ) |  | 457 |
Permanent and other reconciling items, net | 221 |  |  | 548 |  |  | 773 |
Expiration of capital loss carryforward | 5,634 |  |  | 581 |  |  | — |
Reduction in deferred tax liability resulting from the Act | (9,847 | ) |  | — |  |  | — |
Stock option cancellation | 347 |  |  | — |  |  | — |
Other | (20 | ) |  | 97 |  |  | (91 | )
Provision (benefit) for income taxes | $ | 390 |  |  | $ | (3,846 | ) |  | $ | 5,521 |
Schedule of Deferred Tax Assets and Liabilities | The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities as of September 30, 2018, and 2017 are presented below:
(in thousands) | September 30,
| 2018 |  | 2017
Deferred tax assets: |  |  |  |  |
Deferred retirement benefits | $ | 1,114 |  |  | $ | 1,712 |
Investment in Citree | 89 |  |  | 45 |
Deferred gain recognition | 6,318 |  |  | 10,199 |
Goodwill | 20,095 |  |  | 33,233 |
Inventories | 711 |  |  | 6,435 |
Stock compensation | 261 |  |  | 292 |
Accrued bonus | 612 |  |  | 248 |
Capital loss carryforwards | — |  |  | 9,462 |
Tax credits | 28 |  |  | 293 |
Net operating losses | — |  |  | 3,160 |
Intangibles | 620 |  |  | 1,027 |
Other | 190 |  |  | 332 |
Total deferred tax assets | 30,038 |  |  | 66,438 |
Deferred tax liabilities: |  |  |
Revenue recognized from citrus and sugarcane | 162 |  |  | 357 |
Property and equipment | 54,925 |  |  | 91,995 |
Accrual-to-cash method | — |  |  | 950 |
Prepaid insurance | 104 |  |  | 220 |
Investment in Magnolia | — |  |  | 24 |
Total deferred tax liabilities | 55,191 |  |  | 93,546 |
Net deferred income tax liabilities | $ | (25,153 | ) |  | $ | (27,108 | )

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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 http://asc.fasb.org/extlink&oid=84230637&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 http://asc.fasb.org/extlink&oid=84230637&loc=d3e32537-109319 + Details
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