What was the income tax expense for Aunt Millies Bakeries in 2023?
Aunt_Millies_Bakeries Franchise · 2025 FDDAnswer from 2025 FDD Document
on-voting | | 141,327 | | 141,327 | | Contributed capital | | 8,070,989 | | 8,070,989 | | Accumulated other comprehensive income | | 1,398,589 | | 1,117,524 | | Retained earnings | _ | 17,231,695 | | 6,501,368 | | Total stockholders' equity | | 26,858,303 | | 15,846,911 | | Total Statistical System | | | | | | Total liabilities and stockholders' equity | $ | 126,654,714 | $ | 117,073,938 |
PERFECTION BAKERIES, INC. CONSOLIDATED STATEMENTS OF INCOME Years ended September 30, 2024 and 2023
| 2024 | 2023 | |
|---|---|---|
| Net sales | $ 462,702,057 | $ 437,724,626 |
| Cost of sales | 311,115,028 | 299,549,850 |
| Gross profit | 151,587,029 | 138,174,776 |
| Delivery and selling expenses G |
Source: Item 23 — RECEIPT (FDD pages 44–196)
What This Means (2025 FDD)
According to Aunt Millies Bakeries's 2025 Franchise Disclosure Document, the income tax expense for 2023 was $269,444. This figure reflects the amount of income tax that Aunt Millies Bakeries recorded as an expense for that year. It is important to note that this is an expense, meaning it reduces the company's net income.
For a prospective franchisee, understanding the income tax expense of the franchisor can provide insight into the overall financial health and profitability of the company. While franchisees do not directly pay the franchisor's income taxes, the franchisor's financial stability can impact the support and services they provide to franchisees. A healthy franchisor is more likely to invest in innovation, marketing, and training, all of which can benefit the franchisee.
It's also worth noting that income tax expenses can fluctuate from year to year due to changes in profitability, tax laws, and accounting practices. Therefore, it's essential to review several years of financial statements to get a comprehensive understanding of Aunt Millies Bakeries's tax situation and financial performance. Reviewing the trend in income tax expense alongside net income can provide a clearer picture of the company's tax burden and its impact on overall profitability.