16. Income Taxes (Tables)
|
12 Months Ended |
Sep. 30, 2018 |
Income Tax Disclosure [Abstract] |
|
Reconciliation of income tax expense |
|
|
Year Ended |
|
|
Year Ended |
|
|
|
September 30, |
|
|
September 30, |
|
|
|
2018 |
|
|
2017 |
|
Current expense: |
|
|
|
|
|
|
|
|
Federal |
|
$ |
(16,621 |
) |
|
$ |
313,405 |
|
State |
|
|
243,631 |
|
|
|
243,841 |
|
|
|
|
227,010 |
|
|
|
557,246 |
|
|
|
|
|
|
|
|
|
|
Deferred expense: |
|
|
|
|
|
|
|
|
Federal |
|
|
3,471,657 |
|
|
|
3,397,732 |
|
State |
|
|
367,526 |
|
|
|
126,841 |
|
Change in valuation allowance |
|
|
340,906 |
|
|
|
– |
|
|
|
|
4,180,089 |
|
|
|
3,524,573 |
|
Total income tax expense |
|
$ |
4,407,099 |
|
|
|
4,081,819 |
|
|
Reconciliation between effective and statutory income tax rates |
|
|
Year Ended |
|
|
Year Ended |
|
|
|
September 30, |
|
|
September 30, |
|
|
|
2018 |
|
|
2017 |
|
|
|
|
|
|
|
|
Federal statutory rates |
|
$ |
2,507,740 |
|
|
$ |
3,598,424 |
|
State income taxes, net of federal benefit |
|
|
340,018 |
|
|
|
299,216 |
|
Permanent differences |
|
|
67,579 |
|
|
|
71,908 |
|
Impact of federal rate change from Tax Act |
|
|
3,037,057 |
|
|
|
– |
|
Bargain gain - purchase accounting |
|
|
(1,455,598 |
) |
|
|
– |
|
Property & equipment adjustment |
|
|
(273,525 |
) |
|
|
– |
|
Federal carryfoward attributes trued up |
|
|
(170,731 |
) |
|
|
– |
|
Change in valuation allowance |
|
|
340,906 |
|
|
|
– |
|
Other |
|
|
13,653 |
|
|
|
112,271 |
|
Effective rate |
|
$ |
4,407,099 |
|
|
$ |
4,081,819 |
|
|
Schedule of deferred income tax assets and liabilities |
|
|
Year Ended |
|
|
Year Ended |
|
|
|
September 30, |
|
|
September 30, |
|
|
|
2018 |
|
|
2017 |
|
Deferred income tax assets (liabilities): |
|
|
|
|
|
|
|
|
Allowance for bad debts |
|
$ |
229,048 |
|
|
$ |
401,867 |
|
Accrued expenses |
|
|
22,664 |
|
|
|
31,183 |
|
Inventory |
|
|
(8,381 |
) |
|
|
772,656 |
|
Accrued compensation |
|
|
33,670 |
|
|
|
– |
|
Net operating loss |
|
|
6,050,336 |
|
|
|
7,804,948 |
|
Tax credits |
|
|
259,026 |
|
|
|
377,776 |
|
Stock compensation |
|
|
2,252,254 |
|
|
|
2,982,009 |
|
Intangibles |
|
|
(1,387,115 |
) |
|
|
13,126 |
|
Property & equipment |
|
|
(3,890,234 |
) |
|
|
(3,387,298 |
) |
Other |
|
|
– |
|
|
|
3,743 |
|
Less: Valuation allowance |
|
|
(340,906 |
) |
|
|
– |
|
Total deferred income tax asset |
|
$ |
3,220,362 |
|
|
$ |
9,000,010 |
|
|