Company: NGVC
Filing Date: 2025-12-11
Form Type: 10-K
Source: 0001437749-25-037556
Chunk: 261

Company: Natural Grocers by Vitamin Cottage, Inc.
Filing Date: 2025-12-11
Form: 10-K
Item: Item 1C
Chunk 261
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			435

			Gross deferred tax assets

			85,007

			87,777

			Deferred tax liabilities:

			Property and equipment

			(15,790
			
			)

			(17,796
			
			)

			Finance lease assets

			(10,461
			
			)

			(9,944
			
			)

			Operating lease assets

			(63,442
			
			)

			(67,426
			
			)

			Leasehold improvements

			(1,906
			
			)

			(1,919
			
			)

			Prepaid expenses (1)

			(503
			
			)

			(635
			
			)

			Goodwill (1)

			(737
			
			)

			(523
			
			)

			Other (1)

			(31
			)

			(5
			)

			Gross deferred tax liabilities

			(92,870
			)

			(98,248
			)

			Net deferred tax liabilities

			$
			(7,863
			)

			(10,471
			)

(1) Equity compensation, prepaid expenses and goodwill at September 30, 2024 have been reclassified from other to be consistent with the current period presentation.

The Company believes that it is more likely than not that it will fully realize all deferred tax assets in the form of future deductions based on the nature of the deductible temporary differences and expected future taxable income.

The Company did not utilize any federal income tax loss or tax credit carryforwards for the years ended September 30, 2025, 2024 and 2023. The Company did not utilize any tax effected state income tax loss carryforwards for the years ended September 30, 2025, 2024 and 2023.

The Company did not have any uncertain tax positions as of September 30, 2025 and 2024.

The Company files income tax returns with federal, state and local tax authorities. With limited exceptions, the Company is no longer subject to federal income tax examinations for fiscal years 2021 and prior and is no longer subject to state and local income tax examinations for fiscal years 2020 and prior.

17. Defined Contribution Plan

The Company has a defined contribution retirement plan (the Retirement Plan) covering substantially all employees who meet