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INCOME TAXES (Tables) | 12 Months Ended
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Sep. 30, 2023
Income Tax Disclosure [Abstract] |
Components of income (loss) before income taxes, after adjusting the income (loss) for non-controlling interests | The components of (loss) earnings before income taxes, after adjusting the (loss) earnings for non-controlling interests, are as follows:
| Year ended September 30,
| 2023 |  | 2022
United States | $ | (2,414,000) |  |  | $ | 739,000 |
Canada | 1,400,000 |  |  | 5,121,000 |
| $ | (1,014,000) |  |  | $ | 5,860,000 |
Schedule of components of the income tax provision (benefit) | The components of the income tax (benefit) provision related to the above (loss) earnings are as follows:
| Year ended September 30,
| 2023 |  | 2022
Current provision: |  |  |
United States – Federal |  |  |
Before operating loss carryforwards | $ | — |  |  | $ | 727,000 |
Benefit of operating loss carryforwards | — |  |  | (665,000) |
After operating loss carryforwards | — |  |  | 62,000 |
United States – State |  |  |
Before operating loss carryforwards | 47,000 |  |  | 518,000 |
Benefit of operating loss carryforwards | — |  |  | (62,000) |
After operating loss carryforwards | 47,000 |  |  | 456,000 |
Canadian |  |  |
Before operating loss carryforwards | 274,000 |  |  | 510,000 |
Benefit of operating loss carryforwards | (244,000) |  |  | (510,000) |
After operating loss carryforwards | 30,000 |  |  | — |
Total current | 77,000 |  |  | 518,000 |
Deferred benefit: |  |  |
United States – State | (130,000) |  |  | (171,000) |
Total deferred | (130,000) |  |  | (171,000) |
| $ | (53,000) |  |  | $ | 347,000 |
Summary of reconciliation between the reported income tax provision (benefit) and the amount computed by multiplying the loss by the U.S. federal tax rate | A reconciliation between the reported income tax (benefit) expense and the amount computed by multiplying the (loss) earnings attributable to Barnwell before income taxes by the U.S. federal tax rate of 21% is as follows:
| Year ended September 30,
| 2023 |  | 2022
Tax (benefit) provision computed by applying statutory rate | $ | (213,000) |  |  | $ | 1,231,000 |
Increase (decrease) in the valuation allowance | 182,000 |  |  | (1,450,000) |
Additional effect of the foreign tax provision on the total tax provision | (4,000) |  |  | 130,000 |
U.S. state income tax (benefit) provision, net of federal effect | (9,000) |  |  | 330,000 |
U.S. state provision to tax return adjustments | (106,000) |  |  | (45,000) |
Uncertain tax positions | — |  |  | 62,000 |
Other | 97,000 |  |  | 89,000 |
| $ | (53,000) |  |  | $ | 347,000 |
Schedule of tax effects of temporary differences that give rise to significant portions of the deferred tax assets and liabilities | The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities are as follows:
| September 30,
| 2023 |  | 2022
Deferred income tax assets: |  |  |
Foreign tax credit carryover under U.S. tax law | $ | 928,000 |  |  | $ | 953,000 |
U.S. federal net operating loss carryover | 9,406,000 |  |  | 8,258,000 |
U.S. state unitary net operating loss carryovers | 1,177,000 |  |  | 1,117,000 |
Canadian net operating loss carryovers | 1,025,000 |  |  | 877,000 |
Tax basis of investment in land in excess of book basis under U.S. tax law | 25,000 |  |  | 26,000 |
Property and equipment accumulated book depreciation and depletion in excess of tax under U.S. tax law | 275,000 |  |  | 568,000 |
Asset retirement obligation accrued for books but not for tax under U.S. tax law | 1,084,000 |  |  | 959,000 |
Asset retirement obligation accrued for books but not for tax under Canadian tax law | 2,461,000 |  |  | 2,120,000 |
Other liabilities accrued for books but not for tax under U.S. tax law | 612,000 |  |  | 634,000 |
Foreign currency loss under U.S. tax law | 68,000 |  |  | 102,000 |
Foreign currency loss under Canadian tax law | 81,000 |  |  | 124,000 |
Other | 116,000 |  |  | 278,000 |
Total gross deferred income tax assets | 17,258,000 |  |  | 16,016,000 |
Less valuation allowance | (12,439,000) |  |  | (12,608,000) |
Net deferred income tax assets | 4,819,000 |  |  | 3,408,000 |
Deferred income tax liabilities: |  |  |
Property and equipment accumulated tax depreciation and depletion in excess of book under Canadian tax law | (926,000) |  |  | (280,000) |
Book basis of investment in land development partnerships in excess of tax basis under U.S. tax law | (133,000) |  |  | (545,000) |
Book basis of investment in land development partnerships in excess of tax basis under U.S. state non-unitary tax law | (40,000) |  |  | (166,000) |
U.S. oil and gas property and equipment accumulated tax depreciation and depletion in excess of book under U.S. tax law | (906,000) |  |  | (121,000) |
U.S. oil and gas property and equipment accumulated tax depreciation and depletion in excess of book under U.S. state tax law | (19,000) |  |  | (23,000) |
U.S. tax law impact of foreign branch deferred tax asset under Canadian tax law | (1,655,000) |  |  | (1,465,000) |
Retirement plan asset accrued for books but not for tax under U.S. tax law | (939,000) |  | (711,000) |
Other | (259,000) |  |  | (285,000) |
Total deferred income tax liabilities | (4,877,000) |  |  | (3,596,000) |
Net deferred income tax liability | $ | (58,000) |  |  | $ | (188,000) |
Reported as: |  |  |
Deferred income tax assets | — |  |  | — |
Deferred income tax liabilities | (58,000) |  |  | (188,000) |
Net deferred income tax liability | $ | (58,000) |  |  | $ | (188,000) |
Schedule of unrecognized tax benefits | Below are the changes in unrecognized tax benefits.
| Year ended September 30,
| 2023 |  | 2022
Balance at beginning of year | $ | 62,000 |  |  | $ | — |
Effect of tax positions taken in prior years | — |  |  | 60,000 |
Accrued interest related to tax positions taken | — |  |  | 2,000 |
Balance at end of year | $ | 62,000 |  |  | $ | 62,000 |
Summary of tax years, by jurisdiction, that remain subject to examination by taxing authorities | Included below is a summary of the tax years, by jurisdiction, that remain subject to examination by taxing authorities at September 30, 2023:
Jurisdiction | Fiscal Years Open
U.S. federal | 2020 – 2022
Various U.S. states | 2020 – 2022
Canada federal | 2016 – 2022
Various Canadian provinces | 2016 – 2022

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