Annual report pursuant to Section 13 and 15(d)

INCOME TAXES (Tables)

v3.24.3
INCOME TAXES (Tables)
12 Months Ended
Aug. 31, 2024
INCOME TAXES  
Deferred Tax Assets (Liabilities) Significant components of the Company’s deferred tax assets as of August 31 are as follows:

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(In thousands)

    

August 31, 2024

    

August 31, 2023

Deferred tax assets (liabilities):

    

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Depreciation and depletion

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$

(2,237)

​

$

(2,155)

Non-qualified stock options

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527

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484

Accrued compensation

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​

230

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​

170

Deferred revenue

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​

31

​

​

121

Other

​

 

54

​

 

28

Net deferred tax liability

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$

(1,395)

​

$

(1,352)

Statutory to Effective Income Tax Reconciliation

Income taxes computed using the federal statutory income tax rate differs from the Company’s effective tax rate primarily due to the following for the fiscal years ended August 31:

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Year Ended 

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August 31, 2024

    

August 31, 2023

Expected expense (benefit) from federal taxes at statutory rate of 21%

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$

3,283

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$

1,306

State taxes, net of federal benefit

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​

559

​

​

201

Permanent and other differences

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​

148

​

​

(57)

Stock Compensation

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​

(14)

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​

12

Other

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43

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​

59

Total income tax expense

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$

4,019

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$

1,521