For what tax years and periods is Belocal subject to examination by taxing jurisdictions?
Belocal Franchise · 2025 FDDAnswer from 2025 FDD Document
The Company files income tax returns in the U.S. federal jurisdiction and the states of in which it operates. The Company is subject to routine audits by taxing jurisdictions, however, there are currently no audits for any tax periods in progress. The Company is subject to examination by taxing jurisdictions for the years and periods ended subsequent to June 30, 2021.
Source: Item 23 — RECEIPTS (FDD pages 71–242)
What This Means (2025 FDD)
According to Belocal's 2025 Franchise Disclosure Document, Belocal is subject to examination by taxing jurisdictions for tax years and periods ended subsequent to June 30, 2021. This means that taxing authorities can review Belocal's tax filings for these periods to ensure compliance with tax laws and regulations.
For a prospective franchisee, this information indicates that Belocal has a history of tax filings that are potentially open to scrutiny by tax authorities. While the FDD states that there are currently no audits in progress, the possibility of future audits exists for the specified periods. This is a normal part of doing business.
It is important to note that this disclosure relates to Belocal's tax obligations as a C-Corporation and not the tax obligations of its franchisees. Franchisees should consult with their own tax advisors regarding their individual tax responsibilities.