Annual report pursuant to Section 13 and 15(d)

INCOME TAXES (Tables)

v3.23.3
INCOME TAXES (Tables)
12 Months Ended
Aug. 31, 2023
INCOME TAXES  
Deferred Tax Assets (Liabilities)

(In thousands)

    

August 31, 2023

    

August 31, 2022

Deferred tax assets (liabilities):

    

  

    

  

Depreciation and depletion

$

(2,155)

$

(2,061)

Non-qualified stock options

 

484

 

568

Accrued compensation

170

279

Deferred revenues

121

108

Other

 

28

 

31

Net deferred tax liability

$

(1,352)

$

(1,075)

Statutory to Effective Income Tax Reconciliation

Year Ended 

    

August 31, 2023

    

August 31, 2022

Expected expense (benefit) from federal taxes at statutory rate of 21% for the years 2023 and 2022

$

1,306

$

2,668

State taxes, net of federal benefit

201

456

Permanent and other differences

(57)

4

Stock Compensation

12

22

Other

59

(64)

Total income tax expense

$

1,521

$

3,086