INCOME TAXES (Tables)

12 Months Ended

Sep. 30, 2023

INCOME TAXES

Schedule of components of income tax expense from operations

	2023		2022
Current: Federal	$	2,324,897	$	4,437,197
Current: State		791,731		1,238,823
		3,116,628		5,676,020
Deferred: Federal		2,199,672		677,357
Deferred: State		389,700		120,003
		2,589,372		797,360
Income tax expense	$	5,706,000	$	6,473,380

Schedule of difference between the income tax expense and that which would be calculated using the statutory income tax rate

	2023		2022
Tax at statutory rate	$	3,633,503	$	4,509,855
Nondeductible business expenses		1,313,864		1,333,491
State income taxes, net of federal tax benefit		924,567		1,072,735
Tax attributable to non-controlling interest		(443,831)		(298,305)
Other		277,897		(144,396)
	$	5,706,000	$	6,473,380

Schedule of temporary differences between the financial statement carrying balances and tax basis of assets and liabilities giving rise to a net deferred tax asset (liabilities)

	2023		2022
Deferred tax assets:
Allowance for doubtful accounts	$	253,252	$	281,927
Accrued expenses		273,313		1,090,219
Inventory		533,723		414,239
Other		618,256		163,399
Interest expense limitation		753,451		—
Net operating loss carry forwards - state		697,013		697,013
Total gross deferred tax assets		3,129,008		2,646,797
Less: Valuation allowance		(697,013)		(697,013)
Total net deferred tax assets		2,431,995		1,949,784
Deferred tax liabilities:
Trade discounts		471,126		418,660
Operating lease, right-of-use assets		97,468		91,954
Property and equipment		5,725,493		2,337,447
Goodwill		921,799		921,799
Other		—		412,221
Intangible assets		134,069		96,291
Total deferred tax liabilities		7,349,955		4,278,372
Total net deferred income tax liability	$	4,917,960	$	2,328,588