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)

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​

​

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​

​

​

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(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

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​

​

​

​

​

Year Ended 

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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

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$

1,521

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$

3,086

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