INCOME TAXES (Tables)

12 Months Ended

Sep. 30, 2022

INCOME TAXES

Schedule of components of income tax expense from operations

	2022		2021
Current: Federal	$	4,437,197	$	3,631,619
Current: State		1,238,823		1,144,728
		5,676,020		4,776,347
Deferred: Federal		677,357		(233,907)
Deferred: State		120,003		(41,440)
		797,360		(275,347)
Income tax expense	$	6,473,380	$	4,501,000

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

	2022		2021
Tax at statutory rate	$	4,509,855	$	3,504,540
Nondeductible business expenses		1,333,491		232,684
State income taxes, net of federal tax benefit		1,072,735		867,567
Tax attributable to non-controlling interest		(298,305)		—
Other		(144,396)		(103,791)
	$	6,473,380	$	4,501,000

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

	2022		2021
Deferred tax assets:
Allowance for doubtful accounts	$	281,927	$	223,094
Accrued expenses		1,090,219		1,369,467
Inventory		414,239		362,466
Other		163,399		114,206
Net operating loss carry forwards - federal		—		7,108
Net operating loss carry forwards - state		697,013		697,013
Total gross deferred tax assets		2,646,797		2,773,354
Less: Valuation allowance		(697,013)		(697,013)
Total net deferred tax assets		1,949,784		2,076,341
Deferred tax liabilities:
Trade discounts		418,660		356,901
Operating lease, right-of-use assets		91,954		—
Property and equipment		2,337,447		2,101,463
Goodwill		921,799		921,799
Other		412,221		187,164
Intangible assets		96,291		40,242
Total deferred tax liabilities		4,278,372		3,607,569
Total net deferred income tax liability	$	2,328,588	$	1,531,228