Note 9 - Income Taxes (Tables)

12 Months Ended

Sep. 30, 2024

Notes Tables

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

	Years Ended September 30
	2024			2023
Current income taxes:
Federal	$	3,128,721		$	2,935,052
State		689,671			650,238
Total current income taxes		3,818,392			3,585,290
Deferred income taxes:		.
Federal		(398,588	)		(223,862	)
State		276,807			262,103
Total deferred income taxes		(121,781	)		38,241
Amortization of R&D tax credits:
Federal		—			(129,600	)
State		—			(2,020	)
Total amortization of R&D tax credits		—			(131,620	)
Total income tax expense	$	3,696,611		$	3,491,911

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

	Years Ended September 30
	2024			2023
Income before income taxes	$	15,457,507		$	14,791,193
Corporate federal income tax rate		21	%		21	%
Income tax expense computed at the federal statutory rate	$	3,246,076		$	3,106,151
State income taxes, net of federal income tax expense		763,518			720,749
Net amortization of excess deferred taxes on regulated operations		(315,708	)		(162,228	)
Amortization of R&D tax credits		—			(131,620	)
Net amortization of RNG tax credits		(100,649	)		(58,669	)
Reserve for unrecognized tax benefits		82,000			—
Other, net		21,374			17,528
Total income tax expense	$	3,696,611		$	3,491,911

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

	September 30
	2024		2023
Deferred tax assets:
Accrued pension and postretirement medical benefits	$	512,778	$	591,841
Regulatory effect of change in federal income tax rate		2,553,086		2,655,951
Cost of gas held in storage		835,094		752,989
Deferred compensation		1,166,850		1,020,512
Impairment of unconsolidated affiliate		14,077,357		14,180,759
Regulatory effect on tax credits		1,437,670		1,662,400
Other		641,300		452,996
Total gross deferred tax assets		21,224,135		21,317,448
Deferred tax liabilities:
Utility property		19,879,747		19,426,513
MVP investment		1,586,837		1,288,104
Interest rate swaps		530,903		1,188,533
Accrued gas cost		345,464		259,162
Total gross deferred tax liabilities		22,342,951		22,162,312
Net deferred tax asset		771,746		1,163,594
Net deferred tax liability	$	1,890,562	$	2,008,458

Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block]

	September 30
	2024
Beginning balance	$	—
Increase resulting from prior period tax positions		273,936
Ending Balance	$	273,936