INCOME TAXES (Tables)

12 Months Ended

Aug. 31, 2022

INCOME TAXES [Abstract]

Deferred Tax Assets (Liabilities)

(In thousands)	August 31, 2022		August 31, 2021
Deferred tax assets (liabilities):
Depreciation and depletion	$	(2,061)	$	(2,360)
Non-qualified stock options		568		547
Accrued compensation		279		141
Deferred revenues		108		41
Other		31		16
Net deferred tax liability	$	(1,075)	$	(1,615)

Statutory to Effective Income Tax Reconciliation

Income taxes computed using the federal statutory income tax rate differs from the Company’s effective tax rate primarily due to the following for the fiscal years ended August 31:

	Year Ended
	August 31, 2022		August 31, 2021
Expected benefit from federal taxes at statutory rate of 21% for the years 2022 and 2021	$	2,668	$	5,584
State taxes, net of federal benefit		456		973
Permanent and other differences		4		4
Stock Compensation		22		(77)
Other		(64)		(4)
Total income tax expense	$	3,086	$	6,480