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Income Taxes (Tables) | 12 Months Ended
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Sep. 30, 2018
Income Taxes |
Schedule of components of income taxes |
|  | For the Fiscal Year Ended September 30,
|  | 2018 |  | 2017 |  | 2016
Current provision (benefit): |  |  |  |  |  |  |  |  |
Federal |  | $ | (3,440) |  | $ | 244,794 |  | $ | 77,244
State |  |  | 5,239 |  |  | 3,082 |  |  | (2,930)
Total current provision (benefit) |  |  | 1,799 |  |  | 247,876 |  |  | 74,314
Deferred provision (benefit): |  |  |  |  |  |  |  |  |
Federal |  |  | 61,799 |  |  | — |  |  | 493,989
State |  |  | 53 |  |  | 44 |  |  | 27
Total deferred provision (benefit) |  |  | 61,852 |  |  | 44 |  |  | 494,016
Total current and deferred provision (benefit) |  | $ | 63,651 |  | $ | 247,920 |  | $ | 568,330
Schedule of reconciliation of the statutory federal rate to the Company's effective income tax rate |
|  | For the Fiscal Year Ended September 30, |
|  | 2018 |  | 2017 |  | 2016 |
U.S. Federal statutory tax rate |  | 24.3 | % | 34.0 | % | 34.0 | %
Rate change due to tax reform |  | (9.0) | % | — |  | — |
State income taxes, net of federal benefit |  | 1.9 | % | (0.4) | % | 0.2 | %
Permanent items |  | (0.1) | % | 0.2 | % | (0.2) | %
Research and development tax credits |  | 1.3 | % | 8.1 | % | (12.6) | %
Valuation allowance |  | (20.3) | % | (35.9) | % | (2.9) | %
Change in unrecognized tax benefits |  | 0.9 | % | (0.9) | % | (0.1) | %
123R cancellations and forfeitures |  | (0.8) | % | 0.1 | % | 3.8 | %
Effective income tax rate |  | (1.8) | % | 5.2 | % | 22.3 | %
Schedule of deferred tax assets and liabilities |
|  | As of September 30, |  |  |
|  | 2018 |  | 2017 |  | 2016
|  | Non Current |  | Non Current |  | Non Current
Deferred tax assets: |  |  |  |  |  |  |  |  |
Reserves and accruals |  | $ | 730,015 |  | $ | 1,275,427 |  | $ | 2,539,117
Research and development credit |  |  | 1,318,977 |  | $ | 1,236,365 |  | $ | 1,742,627
NOL carryforwards -fed/state |  |  | 2,982,246 |  | $ | 1,208,592 |  | $ | 1,206,476
Depreciation |  |  | (863,796) |  | $ | (690,774) |  | $ | (725,018)
Stock options |  |  | 345,608 |  | $ | 609,016 |  | $ | 603,881
|  |  | 4,513,050 |  |  | 3,638,626 |  |  | 5,367,083
Less: Valuation allowance |  |  | (4,296,553) |  |  | (3,568,459) |  |  | (5,297,757)
Total deferred tax assets |  |  | 216,497 |  |  | 70,167 |  |  | 69,326
Deferred tax liabilities: |  |  |  |  |  |  |  |  |
Depreciation |  |  | (346,091) |  |  | (137,909) |  |  | (137,027)
Total deferred tax liabilities |  |  | (346,091) |  |  | (137,909) |  |  | (137,027)
Net deferred tax asset (liability) |  | $ | (129,594) |  | $ | (67,742) |  | $ | (67,701)
Schedule of reconciliation of beginning and ending balances of total amounts of gross unrecognized tax benefits |
|  | For the Fiscal Year Ended September 30,
|  | 2018 |  | 2017 |  | 2016
Balance at beginning of year |  | $ | 570,000 |  | $ | 615,000 |  | $ | 615,000
Unrecognized tax benefits related to prior years |  |  | 52,000 |  |  | — |  |  | (2,000)
Unrecognized tax benefits related to current year |  |  | 11,000 |  |  | 18,000 |  |  | 26,000
Decrease in unrecognized tax benefits due to the lapse of applicable statute of limitations |  |  | (93,000) |  |  | (63,000) |  |  | (24,000)
Balance at end of year |  | $ | 540,000 |  | $ | 570,000 |  | $ | 615,000

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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://www.xbrl.org/2003/role/presentationRef -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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