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Income Taxes | 12 Months Ended
--- | ---
Sep. 30, 2016
Income Tax Disclosure [Abstract] |
Income Taxes |
(8) | Income Taxes
As of both September 30, 2016 and 2015, the Company’s gross liability for unrecognized tax benefits related to uncertain tax positions was $0.5 million, of which $0.3 million would decrease the Company’s effective income tax rate if the tax benefits were recognized. A reconciliation of the activity related to the liability for gross unrecognized tax benefits during the fiscal year ended September 30, 2016, are as follows:
|  | 2016 |
|  | (In thousands) |
Beginning year balance |  | $ | 493 |
Increase related to prior year tax positions |  |  | — |
Increase related to current year tax positions |  |  | — |
Settlements |  |  | — |
Lapse of statutes of limitations |  |  | — |
Ending year balance |  | $ | 493 |
The Company’s net liability for accrued interest and penalties was $0.17 million as of September 30, 2016. The Company has elected to recognize interest and penalties related to unrecognized tax benefits as a component of income tax expense. The total amount of unrecognized tax benefits can change due to final regulations, audit settlements, tax examinations activities, lapse of applicable statutes of limitations and the recognition and measurement criteria under the guidance related to accounting for uncertainly in income taxes. The Company is unable to estimate what this change could be within the next twelve months, but does not believe it would be material to its financial statements. The provision for income taxes was comprised of the following for the fiscal years ended September 30, 2016 and 2015:
|  | 2016 |  |  | 2015 |
|  | (In thousands) |
Current |  |  |  |  |  |  |  |
Federal |  | $ | 6,324 |  |  | $ | 5,017 |
State |  |  | 511 |  |  |  | 1,089 |
|  |  | 6,835 |  |  |  | 6,106 |
Deferred |  |  |  |  |  |  |  |
Federal |  |  | 1,539 |  |  |  | 1,444 |
State |  |  | (181 | ) |  |  | (136 | )
|  |  | 1,358 |  |  |  | 1,308 |
Total |  | $ | 8,193 |  |  | $ | 7,414 |
The principal reasons for the differences from the federal statutory rate are as follows:
|  | 2016 |  |  | 2015 |
Federal tax at statutory rate |  |  | 35.0 | % |  |  | 35.0 | %
True-up of prior year’s tax provision |  |  | -1.8 |  |  |  | -2.1 |
State tax at statutory rate |  |  | 2.6 |  |  |  | 3.9 |
Permanent and other differences |  |  | 0.3 |  |  |  | 0.2 |
Uncertain tax position allowance |  |  | 0.2 |  |  |  | 2.4 |
Effective Tax Rate |  |  | 36.3 | % |  |  | 39.4 | %
The tax effects of temporary differences that give rise to significant portions of deferred tax assets and liabilities as of September 30, 2016 and 2015, are presented below:
|  | 2016 |  |  | 2015 |
|  | (In thousands) |
Current deferred tax assets: |  |  |  |  |  |  |  |
Accrued compensation |  | $ | 61 |  |  | $ | 69 |
Stock Compensation |  |  | 138 |  |  |  | 137 |
State taxes |  |  | 408 |  |  |  | 476 |
Capital loss carryforward |  |  | 10 |  |  |  | 11 |
Total deferred tax assets |  |  | 617 |  |  |  | 693 |
Less: disallowed capital loss |  |  | (10 | ) |  |  | (10 | )
Net deferred tax assets |  |  | 607 |  |  |  | 683 |
Noncurrent deferred tax liabilities: |  |  |  |  |  |  |  |
Property and equipment |  |  | (50 | ) |  |  | (55 | )
Management contracts |  |  | (10,381 | ) |  |  | (9,093 | )
Total deferred tax liabilities |  |  | (10,431 | ) |  |  | (9,148 | )
Net deferred tax liabilities |  | $ | (9,824 | ) |  | $ | (8,465 | )
The tax benefits in 2016 and 2015 for share based compensation awards that will result in future tax deductions are included in deferred tax assets. The Company accounts for Additional Paid in Capital (APIC) adjustments related to tax deductions in excess of book deductions for stock based compensation using the with-and-without method, recognizing a windfall benefit to APIC only after considering all other tax benefits presently available to it.

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- Definition The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(h)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32559-109319 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32718-109319 Reference 4: 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=65882285&loc=d3e32639-109319 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32537-109319 + Details
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