Income Taxes

12 Months Ended

Sep. 30, 2021

Income Tax Disclosure [Abstract]

Income Taxes

Income Taxes

The significant components of income tax expense for income taxes from continuing operations are summarized as follows (in thousands):

	Year Ended
	September 30,
	2021		2020
Current expense	$	2,081	$	598
Deferred expense	1,213		2,308
Total expense	$	3,294	$	2,906

The following table indicates the significant differences between our income taxes at the federal statutory rate and the Company's effective tax rate for continuing operations (in thousands):

	Year Ended
	September 30,
	2021		2020
Federal statutory rate	$	2,822	$	2,104
State taxes, net	376		554
Other permanent items	96		160
Deferred tax estimate adjustment	—		88
Total	$	3,294	$	2,906

An analysis of the Company's deferred tax assets and liabilities is as follows (in thousands):

	Year Ended
	September 30,
	2021		2020
Deferred income tax assets:
Net operating loss carry forwards, net	$	29	$	1,554
Stock based compensation	508		140
Accrued expenses	1,944		1,698
Other items, net	—		258
Total deferred tax asset	2,481		3,650
Deferred tax liability:
Equipment and intangible assets	(3,507)		(3,613)
Right of use liability	(150)		—
Total deferred tax liability	(3,657)		(3,613)
Net deferred tax (liability)/asset	$	(1,176)	$	37