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Income Taxes (Tables)

12 Months Ended

Sep. 30, 2016

Income Taxes

Schedule of components of income taxes

		For the Fiscal Year Ended September 30,
		2016			2015			2014
Current provision (benefit):
Federal		$	77,244		$	(375,936	)	$	614,729
State		(2,930		)	(10,146		)	363
Total current provision (benefit)		74,314			(386,082		)	615,092
Deferred provision (benefit):
Federal		493,989			2,598,050			(857,049		)
State		27			91,510			(41,665		)
Total deferred provision (benefit)		494,016			2,689,560			(898,714		)
Total current and deferred provision (benefit)		$	568,330		$	2,303,478		$	(283,622	)

Schedule of reconciliation of the statutory federal rate to the Company's effective income tax rate

		For the Fiscal Year Ended September 30,
		2016		2015		2014
U.S. Federal statutory tax rate		34.0	%	34.0	%	34.0	%
State income taxes, net of federal benefit		0.2	%	0.0	%	29.6	%
Permanent items		(0.2	)%	(2.5	)%	123.9	%
Research and development tax credits		(12.6	)%	17.4	%	190.4	%
Valuation allowance		(2.9	)%	(110.0	)%	283.9	%
Change in unrecognized tax benefits		(0.1	)%	(2.6	)%	(41.5	)%
123R cancellations and forfeitures		3.8	%	(1.0	)%	(280.0	)%
Effective income tax rate		22.2	%	(64.7	)%	340.3	%

Schedule of deferred tax assets and liabilities

		As of September 30,
		2016			2015
		Non Current			Non Current
Deferred tax assets:
Reserves and accruals		$	2,539,117		$	3,321,257
Research and development credit		1,742,627			1,472,421
NOL carryforward - state		1,206,476			1,200,156
Depreciation		(725,018		)	(741,736		)
Stock options		603,881			678,316
Other		—			897
		5,367,083			5,931,311
Less: Valuation allowance		(5,297,757		)	(5,371,528		)
Total deferred tax assets		69,326			559,783
Deferred tax liabilities:
Depreciation		(137,027		)	(133,468		)
Total deferred tax liabilities		(137,027		)	(133,468		)
Net deferred tax (liability) asset		$	(67,701	)	$	426,315

Schedule of reconciliation of beginning and ending balances of total amounts of gross unrecognized tax benefits

		For the Fiscal Year Ended September 30,
		2016			2015			2014
Balance at beginning of year		$	615,000		$	526,000		$	492,000
Unrecognized tax benefits related to prior years		(2,000		)	—			1,500
Unrecognized tax benefits related to current year		26,000			125,000			32,500
Decrease in unrecognized tax benefits due to the lapse of applicable statute of limitations		(24,000		)	(36,000		)	—
Balance at end of year		$	615,000		$	615,000		$	526,000

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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.

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-Publisher FASB
-Name Accounting Standards Codification
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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.

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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.

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Tabular disclosure of the change in unrecognized tax benefits.

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