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Income Taxes (Tables) | 12 Months Ended
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Sep. 30, 2019
Income Tax Disclosure [Abstract] |
Provision for Income Tax Expense | The provision for income tax expense consists of:
|  | Year Ended September 30, |
|  | 2019 |  |  | 2018 |
Current: |  |  |  |  |  |  |  |
Federal |  | $ | 2,297,000 |  |  | $ | 1,483,000 |
State |  |  | 148,000 |  |  |  | 130,000 |
Total current |  |  | 2,445,000 |  |  |  | 1,613,000 |
Deferred: |  |  |  |  |  |  |  |
Federal |  |  | 52,000 |  |  |  | 631,000 |
State |  |  | 131,000 |  |  |  | 126,000 |
Total deferred |  |  | 183,000 |  |  |  | 757,000 |
Income tax expense |  | $ | 2,628,000 |  |  | $ | 2,370,000 |
Reconciliation of the Federal Statutory Tax Rate to the Total Tax Provision | A reconciliation of the federal statutory tax rate to the total tax provision is as follows:
|  | Year Ended September 30, |
|  | 2019 |  |  | 2018 |
Federal income taxes computed at the statutory rate |  |  | 21.0 | % |  |  | 24.3 | %
State income taxes, net of federal benefit |  |  | 1.6 | % |  |  | 1.4 | %
Change in current tax rate |  |  | — |  |  |  | (2.9 | %)
Change in deferred tax rate |  |  | — |  |  |  | (2.3 | %)
Research & development tax refunds & credits |  |  | (1.9 | %) |  |  | (1.8 | %)
Dividend received deduction |  |  | (0.6 | %) |  |  | (0.9 | %)
Domestic production activities deduction |  |  | — |  |  |  | (1.2 | %)
Incentive stock options |  |  | 0.2 | % |  |  | (1.0 | %)
Other, net |  |  | 0.2 | % |  |  | 0.1 | %
Effective income tax rate |  |  | 20.5 | % |  |  | 15.7 | %
Deferred Income Tax Assets and Liabilities | Deferred income tax assets and liabilities consist of the following:
|  | September 30, |
|  | 2019 |  |  | 2018 |
Deferred Tax Assets: |  |  |  |  |  |  |  |
Accrued liabilities and reserves |  | $ | 344,000 |  |  | $ | 218,000 |
Allowance for doubtful accounts |  |  | 104,000 |  |  |  | 71,000 |
Inventory |  |  | 98,000 |  |  |  | 212,000 |
R&D tax credits carryforwards |  |  | — |  |  |  | 87,000 |
Stock-based compensation |  |  | 82,000 |  |  |  | 104,000 |
Net operating losses carryforwards |  |  | 7,000 |  |  |  | 57,000 |
Gross Deferred Income Tax Assets |  |  | 635,000 |  |  |  | 749,000 |
Deferred and Other Tax Liabilities: |  |  |  |  |  |  |  |
Domestic international sales corporation |  |  | (464,000 | ) |  |  | (543,000 | )
Percentage of completion |  |  | (2,048,000 | ) |  |  | (1,717,000 | )
Property and equipment |  |  | (1,080,000 | ) |  |  | (904,000 | )
Unrealized gain on investments |  |  | (265,000 | ) |  |  | (75,000 | )
Unrecognized tax benefits |  |  | (150,000 | ) |  |  | (150,000 | )
Gross Deferred and Other Income Tax Liabilities |  |  | (4,007,000 | ) |  |  | (3,389,000 | )
Net Deferred and Other Income Tax Assets (Liabilities) |  | $ | (3,372,000 | ) |  | $ | (2,640,000 | )

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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://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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