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Note 9 - Income Taxes (Tables)

12 Months Ended

Sep. 30, 2025

Notes Tables

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

		Years Ended September 30
		2025				2024
Current income taxes:
Federal		$	3,167,466			$	3,128,721
State			733,266				689,671
Total current income taxes			3,900,732				3,818,392
Deferred income taxes:
Federal			(156,415	)			(398,588	)
State			347,218				276,807
Total deferred income taxes			190,803				(121,781	)
Total income tax expense		$	4,091,535			$	3,696,611

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

		Years Ended September 30
		2025				2024
Income before income taxes		$	17,371,505			$	15,457,507
Corporate federal income tax rate			21	%			21	%
Income tax expense computed at the federal statutory rate		$	3,648,016			$	3,246,076
State income taxes, net of federal income tax expense			853,582				763,518
Net amortization of excess deferred taxes on regulated operations			(366,844	)			(315,708	)
Net amortization of RNG tax credits			(100,649	)			(100,649	)
Reserve for unrecognized tax benefits			—				82,000
Other, net			57,430				21,374
Total income tax expense		$	4,091,535			$	3,696,611

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

		September 30
		2025				2024
Deferred tax assets:
Accrued pension and postretirement medical benefits		$	556,316			$	512,778
Regulatory effect of change in federal income tax rate			2,433,559				2,553,086
Cost of gas held in storage			773,167				835,094
Deferred compensation			1,382,130				1,166,850
Impairment of unconsolidated affiliate			13,722,837				14,077,357
Regulatory effect on tax credits			1,277,006				1,437,670
Other			861,076				641,300
Total gross deferred tax assets			21,006,091				21,224,135
Deferred tax liabilities:
Utility property			20,367,400				19,879,747
MVP investment			2,054,156				1,586,837
Interest rate swaps			230,356				530,903
Accrued gas cost			14,339				345,464
Total gross deferred tax liabilities			22,666,251				22,342,951
Net deferred tax asset			617,390				771,746
Net deferred tax liability		$	2,277,550			$	1,890,562

Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block]

		September 30
		2025				2024
Beginning balance		$	273,936			$	—
Increase (decrease) resulting from prior period tax positions			(273,936	)			273,936
Ending Balance		$	—			$	273,936

X

- 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

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