XML 38 R18.htm IDEA: XBRL DOCUMENT
v3.23.3

Note 12 - Income Taxes | 12 Months Ended
--- | ---
Sep. 30, 2023
Notes to Financial Statements |
Income Tax Disclosure [Text Block] |
(12) | Income Taxes
As of the end of each of fiscal years 2023 and 2022, the Company’s gross liability for unrecognized tax benefits related to uncertain tax positions was $0.4 million and $0.4 million, respectively. If the tax benefits of such amounts were recognized, $0.3 million and $0.3 million of such amounts, respectively, would decrease the Company’s effective income tax rate. The Company’s net liability for accrued interest and penalties was $0.3 million as of each of September 30, 2023, and September 30, 2022. The Company has elected to recognize interest and penalties related to unrecognized tax benefits as a component of income tax expense. During the years ended September 30, 2023, and September 30, 2022, the Company recognized approximately $0.05 million and $0.02 million in interest and penalties, respectively. The Company’s activity was as follows:
|  | Fiscal Years Ended September 30, |
|  | 2023 |  |  | 2022 |
|  | (In thousands) |
Beginning year balance |  | $ | 353 |  |  | $ | 608 |
Decrease related to prior year tax positions |  |  | - |  |  |  | (255 | )
Ending year balance |  | $ | 353 |  |  | $ | 353 |
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 12 months, but does not believe it would be material to its financial statements. The Company’s income tax expense was as follows:
|  | Fiscal Years Ended September 30, |
|  | 2023 |  |  | 2022 |
|  | (In thousands) |
Current |  |  |  |  |  |  |  |
Federal |  | $ | 485 |  |  | $ | 854 |
State |  |  | 221 |  |  |  | (149 | )
Total Current |  |  | 706 |  |  |  | 705 |
Deferred |  |  |  |  |  |  |  |
Federal |  |  | 955 |  |  |  | 888 |
State |  |  | 168 |  |  |  | 163 |
Total Deferred |  |  | 1,123 |  |  |  | 1,051 |
Total |  | $ | 1,829 |  |  | $ | 1,756 |
The principal reasons for the differences from the federal statutory income tax rate and the Company’s effective tax rate were as follows:
|  | Fiscal Years Ended September 30, |
|  | 2023 |  |  | 2022 |
Federal statutory income tax rate |  |  | 21.0 | % |  |  | 21.0 | %
State income taxes, net of federal benefit |  |  | 4.0 |  |  |  | 3.9 |
Permanent and other differences |  |  | (0.4 | ) |  |  | 0.4 |
Difference due to executive compensation |  |  | 0.7 |  |  |  | 1.0 |
Tax return to provision adjustments |  |  | 0.8 |  |  |  | (1.3 | )
Uncertain tax position |  |  | 0.9 |  |  |  | (3.0 | )
Stock-based compensation |  |  | 0.7 |  |  |  | 0.1 |
Effective income tax rate |  |  | 27.7 | % |  |  | 22.1 | %
The tax effects of temporary differences that give rise to significant portions of deferred tax assets and liabilities were as follows:
|  | Fiscal Years Ended September 30, |
|  | 2023 |  |  | 2022 |
|  | (In thousands) |
Deferred tax assets |  |  |  |  |  |  |  |
Accrued compensation |  | $ | 37 |  |  | $ | 40 |
Stock compensation |  |  | 18 |  |  |  | 20 |
State taxes |  |  | 176 |  |  |  | 175 |
Capital loss carryforward |  |  | 7 |  |  |  | 7 |
Lease liability |  |  | 70 |  |  |  | (1 | )
Gross deferred tax assets |  |  | 308 |  |  |  | 241 |
Disallowed capital loss |  |  | (7 | ) |  |  | (7 | )
Net deferred tax assets |  |  | 301 |  |  |  | 234 |
Deferred tax liabilities |  |  |  |  |  |  |  |
Property and equipment |  |  | (31 | ) |  |  | (35 | )
Management contracts |  |  | (14,807 | ) |  |  | (13,687 | )
ROU asset |  |  | (74 | ) |  |  | - |
Total deferred tax liabilities |  |  | (14,912 | ) |  |  | (13,722 | )
Net deferred tax liabilities |  | $ | (14,611 | ) |  | $ | (13,488 | )

X
- References No definition available. + Details
Name: | us-gaap_DisclosureTextBlockAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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/disclosureRef -Topic 946 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480990/946-20-50-13 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(h)(2)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//740/tableOfContent Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 14 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-14 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-21 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 270 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482526/740-270-50-1 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 17 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-17 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SAB TOPIC 6.I.5.Q1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479360/740-10-S99-1 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 11.C) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479360/740-10-S99-2 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482603/740-30-50-2 + Details
Name: | us-gaap_IncomeTaxDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration