What was the amount of 'other' revenue for 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
Income taxes consist of: Provision for income taxes based on combined federal and state income tax rate of 26.74% (2024 – 26.74%) $ 71,751 $ 32,803
Increase in income taxes resulting from: Permanent differences 1,541 True-up adjustment due to tax rate change 11,141
Other
13,672
$ 85,423 $ 32,952 1-800-GOT-JUNK? LLC Notes to Consolidated Financial Statements (Unaudited - Tabular amounts expressed in United States dollars, unless otherwise indicated)
For the period ended May 31, 2025 and 2024
- Income taxes (continued): The other differences above are due to changes in state apportionment, revisions to prior year estimates and state income tax benefits. The LLC files U.S. federal and various state income tax returns and tax positions are subject to income tax audits. The LLC is no longer subject to U.S. federal or state income tax examinations for fiscal years prior to December 31, 2019.
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 'other' revenue for the period ended May 31, 2024, was $13,672. This figure is part of the income taxes breakdown, specifically related to 'other' differences. These differences are attributed to changes in state apportionment, revisions to prior year estimates, and state income tax benefits.
This information is relevant for prospective 1-800-GOT-JUNK? franchisees as it provides insight into the various factors influencing the company's income tax obligations. Understanding these components can help franchisees appreciate the complexities of financial reporting and potential fluctuations in tax liabilities. The 'other' category, while relatively small, reflects the impact of state-specific regulations and adjustments on the overall tax expense.
It's important to note that these figures are unaudited and represent a snapshot for the specified period. Franchisees should consider these numbers in the context of broader financial performance and consult with financial advisors to fully understand the implications for their own businesses. The fluctuations in state apportionment and prior year estimates highlight the need for careful tax planning and compliance.