Income Taxes (Tables)

9 Months Ended

Jun. 30, 2020

Income Tax Disclosure [Abstract]

Reconciliation of Income Tax Expense

A reconciliation of income tax expense from applying the federal statutory rates in effect for each period to total income tax expense is presented below:

	Three Months Ended June 30,						Nine Months Ended June 30,
	2020			2019			2020			2019
Income before income taxes	$	1,607,590		$	1,482,585		$	14,323,921		$	10,749,678
Corporate federal tax rate	21.00		%	21.00		%	21.00		%	21.00		%
Income tax expense computed at the federal statutory rate	$	337,593		$	311,342		$	3,008,023		$	2,257,432
State income taxes, net of federal tax benefit	77,349			71,245			666,017			512,315
Net amortization of excess deferred taxes on regulated operations	(14,081)			(13,624)			(138,413)			(186,041)
Other, net	151			(24,933)			(105,536)			(76,835)
Total income tax expense	$	401,012		$	344,030		$	3,430,091		$	2,506,871
Effective tax rate	24.9		%	23.2		%	23.9		%	23.3		%