What was the total income tax expense for Auntie Annes in 2022?
Auntie_Annes Franchise · 2024 FDDAnswer from 2024 FDD Document
| For the fiscal years ended: | 2023 | 2022 | |
|---|---|---|---|
| Current: | |||
| Federal | $ 13,888 | $ 10,615 | |
| State | 4,069 | 3,952 | |
| Foreign | 2,695 | 2,346 | |
| Deferred: | |||
| Federal | (2,138) | 4,060 | |
| State | (463) | 162 | |
| Income tax expense | $ 18,051 | $ 2 1,135 |
Source: Item 23 — RECEIPTS (FDD pages 106–366)
What This Means (2024 FDD)
According to Auntie Annes' 2024 Franchise Disclosure Document, the total income tax expense for the fiscal year ended December 25, 2022, was $21,135. This figure reflects the total amount of income taxes that Auntie Annes was obligated to pay for that year.
Specifically, the income tax expense is broken down into several components: federal, state, and foreign taxes. For 2022, the federal income tax was $10,615, the state income tax was $3,952, and the foreign income tax was $2,346. Additionally, there were deferred tax adjustments, with a federal deferred tax of $4,060 and a state deferred tax of $162.
Understanding the income tax expense is crucial for prospective franchisees as it provides insight into the financial obligations and profitability of Auntie Annes. It's important to note that these figures pertain to the franchisor's operations and not the individual franchisee's tax liabilities, which will depend on their specific business circumstances and location.