What was the gross deferred tax liability related to intangibles for Benjamin Franklin Plumbing in 2023?
Benjamin_Franklin_Plumbing Franchise · 2025 FDDAnswer from 2025 FDD Document
| 2024 | 2023 | |
|---|---|---|
| Deferred tax liabilities | ||
| Intangibles | (38,368) | (43,449) |
Source: Item 22 — CONTRACTS (FDD pages 87–88)
What This Means (2025 FDD)
According to Benjamin Franklin Plumbing's 2025 Franchise Disclosure Document, the gross deferred tax liability related to intangibles in 2023 was ($43,449). This figure represents the deferred tax liabilities associated with intangible assets, such as trademarks, patents, or other intellectual property that Benjamin Franklin Plumbing possesses.
Deferred tax liabilities arise when the book value of an asset is higher than its tax basis, resulting in a future tax obligation. For a prospective Benjamin Franklin Plumbing franchisee, this indicates the tax implications of the brand's intangible assets are being accounted for.
It is important to note that this figure is a liability, meaning it represents a future obligation. Franchisees should consider this information in the context of the overall financial health and tax strategy of Benjamin Franklin Plumbing.