v3.25.2
Income Taxes (Tables)
12 Months Ended
Jun. 30, 2025
Income Taxes [Abstract]  
Schedule of Components of Income Taxes The following are the components of income taxes provision (benefit) (in thousands):
Fiscal years ended June 30,  2025   2024 
         
Current        
Federal  $3,200   $2,195 
State   1,148    568 
    4,348    2,763 
           
Deferred          
Federal   (638)   516 
State   (183)   (41)
    (821)   475 
   $3,527   $3,238 
Schedule of Reconciliation Income Tax Expense Computed at the Federal Statutory Tax Rate The reconciliation of income tax expense computed at the federal statutory tax rate of 21% for the fiscal years ended June 30, 2025 and 2024 to the provision for income taxes is as follows (in thousands):
Fiscal years ended June 30,  2025   2024 
         
Tax at the statutory rate  $2,313   $1,866 
State income taxes, net of federal benefit   745    422 
Nondeductible compensation   518    885 
Other   (49)   65 
   $3,527   $3,238 
           
Effective tax rate   32.0%   36.4%
Schedule of Current and Noncurrent Deferred Tax Assets and Liabilities Significant components of the Company’s current and noncurrent deferred tax assets and liabilities as of June 30, 2025 and 2024 were as follows (in thousands):
As of June 30,  2025   2024 
         
Deferred tax assets:        
Allowance for credit losses  $472   $281 
Other reserves   1,048    - 
Inventory capitalization   1,303    966 
Stock compensation   1,325    1,039 
Accrued liabilities   1,958    1,581 
Other   443    163 
    6,549    4,030 
           
Deferred tax liabilities:          
Goodwill   (6,984)   (5,755)
Inventory method changes   (1,366)   - 
Depreciation   (2,701)   (2,228)
Intangible assets   (3,189)   (1,348)
Other   -    (197)
    (14,240)   (9,528)
Net deferred income tax (liabilities) assets  $(7,691)  $(5,498)