Income Taxes |
9 Months Ended |
|---|---|
May 31, 2026 | |
| Income Tax Disclosure [Abstract] | |
| Income Taxes | Note 7. Income Taxes During the three months ended May 31, 2026 and 2025, the Company recorded an income tax provision of $4,640,000 and $3,162,000, respectively, resulting in an effective tax rate of 25.5% and 24.9%, respectively. The provision for income taxes increased by $1,478,000 in the three months period ended May 31, 2026 over the prior year period due to higher pre-tax income in the current period. During the nine months ended May 31, 2026 and 2025, the Company recorded an income tax provision of $11,196,000 and $7,835,000, respectively, resulting in an effective tax rate of 25.5% and 25.3%, respectively. The provision for income taxes increased by $3,361,000 in the nine months period ended May 31, 2026 over the prior year period due to higher pre-tax income in the current period. The current period effective tax rate differs from the statutory rate of 21% primarily due to the state tax rates and permanent book tax differences. Accounting for uncertainty in income taxes prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return and provides guidance on de-recognition, classification, interest and penalties, accounting in interim periods, disclosure, and transition. For each of the three and nine months ended May 31, 2026 and 2025, the Company did not have a liability for any unrecognized tax benefit. The Company has elected to classify interest and penalties as a component of its income tax provision. For each of the three and nine months ended May 31, 2026 and 2025, the Company did not have a liability for penalties or interest. The Company does not expect any changes to its unrecognized tax benefit for the next three months that would materially impact its consolidated financial statements. |