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Income Taxes (Tables)

12 Months Ended

Sep. 30, 2022

Income Tax Disclosure [Abstract]

Schedule of Significant Components of the Expense From Continuing Operations

The significant components of provision for income taxes from continuing operations are summarized as follows for the years ending September 30, 2022 and 2021 (in thousands):

						2022						2021
Current expense						$	7,351					$	2,081
Deferred expense						424						1,213
Total expense						$	7,775					$	3,294

Schedule of Significant Differences Between the Income Taxes at Federal Statutory Rate and Effective Tax Rate

The following table presents the significant differences between our income taxes at the federal statutory rate and the Company's effective tax rate for continuing operations for the years ending September 30, 2022 and 2021 (in thousands):

						2022						2021
Income taxes at the federal statutory rate						$	6,523					$	2,822
State taxes, net						1,158						376
Other permanent items						94						96
Total						$	7,775					$	3,294

Schedule of Deferred Tax Assets and Liabilities

An analysis of the Company's deferred tax assets and liabilities at September 30, 2022 and 2021 is as follows (in thousands):

						2022						2021
Deferred tax assets:
Net operating loss carry forwards, net						$	296					$	318
Stock based compensation						668						508
Accrued compensation						2,108						2,614
Total deferred tax assets						3,072						3,440
Less: valuation allowance						(262)						(288)
Total deferred tax assets, net						2,810						3,152
Deferred tax liabilities:
Equipment and intangible assets						(3,833)						(3,507)
Accrued expenses						(407)						(671)
Right of use liability						(104)						(150)
Total deferred tax liabilities						(4,344)						(4,328)
Net deferred tax liability						$	(1,534)					$	(1,176)

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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 https://asc.fasb.org/extlink&oid=121826272&loc=d3e32639-109319

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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 https://asc.fasb.org/extlink&oid=121826272&loc=d3e32537-109319

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- Definition

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.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 12
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32687-109319

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