INCOME TAXES (Tables)

12 Months Ended

Sep. 30, 2016

INCOME TAXES

Schedule of components of income tax expense from operations

	2016		2015
Current: Federal	$	3,355,335	$	3,650,491
Current: State		482,387		486,173
		3,837,722		4,136,664
Deferred: Federal		401,159		242,502
Deferred: State		36,119		21,834
		437,278		264,336
Income tax expense	$	4,275,000	$	4,401,000

Schedule of difference between the income tax expense and that which would be calculated using the statutory income tax rate

	2016		2015
Tax at statutory rate	$	3,589,485	$	3,766,798
Nondeductible business expenses		368,002		355,710
State income taxes, net of federal tax benefit		345,323		347,157
Other		(27,810)		(68,665)
	$	4,275,000	$	4,401,000

Schedule of temporary differences between the financial statement carrying balances and tax basis of assets and liabilities giving rise to the net deferred tax asset (liabilities)

	2016		2015
Deferred tax assets:
Current:
Allowance for doubtful accounts	$	246,178	$	319,818
Accrued expenses		1,084,140		1,076,222
Inventory		464,648		523,396
		1,794,966		1,919,436
Noncurrent:
Property and equipment	$	21,087	$	180,285
Net operating loss carry forwards—federal		241,717		287,759
Net operating loss carry forwards—state		592,559		596,545
		855,363		1,064,589
Total deferred tax assets		2,650,329		2,984,025
Valuation allowance		(592,559)		(586,299)
Net deferred tax assets	$	2,057,770	$	2,397,726
Deferred tax liabilities:
Current:
Trade discounts	$	353,047	$	365,710
Noncurrent:
Property and equipment		1,618,875		1,531,346
Goodwill		1,308,729		1,246,782
Intangible assets		1,356,769		1,396,260
		4,284,373		4,174,388
Total deferred tax liabilities	$	4,637,420	$	4,540,098
Net deferred tax assets (liabilities):
Current	$	1,441,919	$	1,553,726
Noncurrent		(4,021,569)		(3,696,098)
	$	(2,579,650)	$	(2,142,372)