Income Taxes (Tables)

12 Months Ended

Sep. 30, 2015

Income Tax Disclosure [Abstract]

Summary of Reconciliation of Activity Related to Liability for Gross Unrecognized Tax Benefits

A reconciliation of the activity related to the liability for gross unrecognized tax benefits during the fiscal year ended September 30, 2015 are as follows:

	2015
	(in thousands)
Beginning year balance	$	—
Increase related to prior year tax positions		438
Increase related to current year tax positions		55
Settlements		—
Lapse of statutes of limitations		—
Ending year balance	$	493

Provision for Income Taxes

The provision for income taxes was comprised of the following for the fiscal years ended September 30, 2015 and 2014:

	2015			2014
	(in thousands)
Current
Federal	$	5,017		$	3,080
State		1,089			821
		6,106			3,901
Deferred
Federal		1,444			1,312
State		(136	)		182
		1,308			1,494
Total	$	7,414		$	5,395

Principal Reasons for Differences from Federal Statutory Rate

The principal reasons for the differences from the federal statutory rate are as follows:

	2015			2014
Federal tax at statutory rate		35.0	%		34.0	%
True-up of prior year’s tax provision		-2.1			1.4
State tax at statutory rate		3.9			5.5
Permanent and other differences		0.2			0.4
Uncertain tax position allowance		2.4			—
Effective Tax Rate		39.4	%		41.3	%

Tax Effects of Temporary Differences of Deferred Tax Assets and Liabilities

The tax effects of temporary differences that give rise to significant portions of deferred tax assets and liabilities as of September 30, 2015 and 2014 are presented below:

	2015			2014
	(in thousands)
Current deferred tax assets:
Accrued compensation	$	69		$	26
Deferred rent		—			56
Stock Compensation		137			—
State taxes		476			260
Capital loss carryforward		11			11
Total deferred tax assets		693			353
Less: disallowed capital loss		(10	)		(11	)
Net deferred tax assets		683			342
Noncurrent deferred tax liabilities:
Stock based compensation		—			26
Property and equipment		(55	)		(39	)
Management contracts		(9,093	)		(7,486	)
Total deferred tax liabilities		(9,148	)		(7,499	)
Net deferred tax liabilities	$	(8,465	)	$	(7,157	)