INCOME TAXES (Tables)

12 Months Ended

Sep. 30, 2024

INCOME TAXES

Schedule of components of income tax expense from operations

	2024		2023
Current: Federal	$	2,998,194	$	2,324,897
Current: State		671,450		791,731
		3,669,644		3,116,628
Deferred: Federal		(461,826)		2,199,672
Deferred: State		(81,818)		389,700
		(543,644)		2,589,372
Income tax expense	$	3,126,000	$	5,706,000

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

	2024		2023
Tax at statutory rate	$	1,567,122	$	3,633,503
Nondeductible business expenses		1,162,221		1,313,864
State income taxes, net of federal tax benefit		472,853		924,567
Tax attributable to non-controlling interest		(203,757)		(443,831)
Other		127,561		277,897
	$	3,126,000	$	5,706,000

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)

	2024		2023
Deferred tax assets:
Allowance for expected credit losses	$	252,263	$	253,252
Accrued expenses		—		273,313
Inventory		559,277		533,723
Other		838,158		618,256
Interest expense limitation		1,667,806		753,451
Net operating loss carry forwards - state		697,013		697,013
Total gross deferred tax assets		4,014,517		3,129,008
Less: Valuation allowance		(697,013)		(697,013)
Total net deferred tax assets		3,317,504		2,431,995
Deferred tax liabilities:
Trade discounts		554,066		471,126
Operating lease, right-of-use assets		99,488		97,468
Property and equipment		5,834,321		5,725,493
Goodwill		921,799		921,799
Accrued expenses		117,878		—
Intangible assets		164,268		134,069
Total deferred tax liabilities		7,691,820		7,349,955
Total net deferred income tax liability	$	4,374,316	$	4,917,960