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INCOME TAXES (Tables) | 12 Months Ended
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Sep. 30, 2020
INCOME TAXES |
Schedule of Deferred Tax Assets and Liabilities | Significant components of our deferred tax assets and liabilities are as follows:
|  | As of September 30,
|  | 2020 |  | 2019
Deferred tax assets: |  |  |  |  |  |
Inventory |  | $ | 85 |  | $ | 102
Accrued compensation and vacation |  |  | 137 |  |  | 162
Accrued expenses and other |  |  | 172 |  |  | 379
Domestic net operating loss carryforwards |  |  | 3,580 |  |  | 3,282
Basis difference for intangible assets |  |  | 457 |  |  | 254
Stock compensation expense |  |  | 96 |  |  | 2
AMT credit carryover |  |  | — |  |  | 31
Leases |  |  | 108 |  |  | —
PPP loan expenses |  |  | 1,276 |  |  | —
Total deferred tax assets |  |  | 5,911 |  |  | 4,212
Deferred tax liabilities: |  |  |  |  |  |
Prepaid expenses |  |  | (143) |  |  | (121)
Basis difference for fixed assets |  |  | (211) |  |  | (219)
Goodwill |  |  | (141) |  |  | —
Total deferred tax liabilities |  |  | (495) |  |  | (340)
Total net deferred tax assets |  |  | 5,416 |  |  | 3,872
Valuation allowance for net deferred tax assets |  |  | (5,557) |  |  | (3,841)
Net deferred tax asset (liability) |  | $ | (141) |  | $ | 31
Schedule of Components of Income Tax Expense (Benefit) | Significant components of the provision (benefit) for income taxes are as follows as of the year ended September 30:
|  | 2020 |  | 2019
Current: |  |  |  |  |  |
Federal |  | $ | (31) |  | $ | (31)
State and local |  |  | 6 |  |  | 4
Deferred: |  |  |  |  |  |
Federal |  |  | 143 |  |  | 31
State and local |  |  | 29 |  |  | —
Income tax expense |  | $ | 147 |  | $ | 4
Schedule of Effective Income Tax Rate Reconciliation | The effective income tax rate on continuing operations varied from the statutory federal income tax rate as follows:
|  | 2020 |  | 2019 |
Federal statutory income tax rate |  | 21.0 | % | 21.0 | %
Increases (decreases): |  |  |  |  |
State and local income taxes, net of Federal tax benefit, if applicable |  | (0.1) | % | (0.4) | %
Other nondeductible expenses |  | 1.3 | % | (11.5) | %
Goodwill |  | (3.1) | % | — |
Valuation allowance changes |  | (22.3) | % | (9.6) | %
Effective income tax rate |  | (3.2) | % | (0.5) | %

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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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