Quarterly report pursuant to Section 13 or 15(d)

INCOME TAXES (Tables)

v3.23.2
INCOME TAXES (Tables)
9 Months Ended
May 31, 2023
INCOME TAXES  
Provision for Income Taxes

The provision for income taxes is recorded at the end of each interim period based on the Company’s best estimate of its effective income tax rate expected to be applicable for the full fiscal year considering any items requiring discrete recognition. Income tax information for the three and nine months ended May 31, 2023 and 2022 is as follows:

Three Months Ended

Nine Months Ended

 

(In thousands)

    

May 31, 2023

    

May 31, 2022

    

May 31, 2023

    

May 31, 2022

 

Effective income tax rate

25.4

%

22.7

%

27.0

%

23.2

%

Income tax expense:

Current

$

1,420

$

227

$

1,546

$

1,411

Deferred

 

(296)

 

19

 

(202)

 

(187)

Total

$

1,124

$

246

$

1,344

$

1,224

Income taxes paid:

Federal

$

$

$

3,471

$

4,360

State

 

 

 

794

 

900

Total

$

$

$

4,265

$

5,260