What was the amount of income taxes paid by 1-800-GOT-JUNK? for the period ended May 31, 2024?
1_800_Got_Junk Franchise · 2025 FDDAnswer from 2025 FDD Document
May 31 May 31
Cash provided by (used in):
Operating: Net income for the period
$ 288,999 $ 266,526 Items not involving cash: Amortization 9,288 20,952 Deferred income tax expense 59,707 32,952 Current income tax expense 25,716
Interest accrued for due to related parties 303,956 178,974 Bad debt
145,077 Income taxes paid (292,897) (69,581)
Source: Item 21 — Financial Statements (FDD page 56)
What This Means (2025 FDD)
According to 1-800-GOT-JUNK?'s 2025 Franchise Disclosure Document, the income taxes paid for the period ended May 31, 2024, was $(69,581). This figure is derived from the consolidated statement of cash flows, which outlines the cash provided by or used in operating activities.
Specifically, the statement lists 'Income taxes paid' as a deduction in calculating the net cash flow from operating activities. The negative value indicates that 1-800-GOT-JUNK? received more in income tax refunds than it paid out during this period.
For a prospective franchisee, this information provides insight into the company's cash flow management and tax obligations. It's important to note that this figure reflects the consolidated results of 1-800-GOT-JUNK? LLC and may not directly correlate with the tax liabilities a franchisee would incur in their individual business operations. Franchisees should consult with a financial advisor to understand their own tax obligations and how they might differ from those of the franchisor.