Note 12 - Income Taxes (Tables)

12 Months Ended

Sep. 30, 2019

Notes Tables

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

	Years ended September 30,
	2019		2018
Current tax provision
Federal	$	-	$	-
State		2,200		1,600
Total current tax provision		2,200		1,600
Deferred provision
Federal		484,500		2,017,900
State		85,500		356,100
Total deferred provision		570,000		2,374,000
Provision for income taxes	$	572,200	$	2,375,600

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

	Years ended September 30,
	2019			2018
Income taxes computed at the federal statutory rate	$	715,000		$	(332,000	)
Change in valuation allowance		(5,000	)		2,711,000
Change in tax rate		-			6,754,000
Expired net operating loss carryforwards		-			441,000
Nondeductible compensation, interest expense and other		40,000			39,000
State income taxes, net of federal tax benefit		155,000			(41,000	)
Change in R&D credit carryover		(66,000	)		(133,000	)
Stock options and other prior year true-ups		(142,000	)		(499,000	)
Acquired deferred tax assets of Genasys Spain		(7,800	)		(6,564,400	)
Refundable Federal AMT Credit		28,000			-
State business credit utilization		(145,000	)		-
Provision for income taxes	$	572,200		$	2,375,600

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

	At September 30,
	2019			2018
Deferred tax assets
Net operating loss carryforwards	$	12,682,000		$	13,644,000
Research and development credit		5,856,000			5,805,000
Share-based compensation		506,000			532,000
Equipment		(78,000	)		(41,000	)
Patents		24,000			35,000
Accruals and other		1,222,000			818,000
State tax deduction		(6,000	)		(5,000	)
Federal AMT Credit		24,000			53,000
Allowances		169,000			133,000
Gross deferred tax asset		20,399,000			20,974,000
Less valuation allowance		(15,012,000	)		(15,017,000	)
Total deferred tax assets, net of valuation allowance	$	5,387,000		$	5,957,000