What was the total deferred income tax benefit for Benjamin Franklin Plumbing in 2023?
Benjamin_Franklin_Plumbing Franchise · 2025 FDDAnswer from 2025 FDD Document
f loss on sale of retail on the consolidated statements of comprehensive loss. The net assets derecognized primarily related to goodwill and property and equipment.
11. Accrued and Other Liabilities
Accrued and other liabilities consisted of the following as of December 31, 2024 and 2023:
| 2024 | 2023 | |
|---|---|---|
| Employee expenses | $ 10,701 | $ 4,174 |
| Rebates | 3,847 | 2,938 |
| Accrued interest | 5,1 |
Source: Item 22 — CONTRACTS (FDD pages 87–88)
What This Means (2025 FDD)
According to the 2025 Franchise Disclosure Document, Benjamin Franklin Plumbing had a total deferred income tax benefit of $(13,180) in 2023. This figure reflects the net tax benefit arising from temporary differences between the book value of assets and liabilities and their tax bases. These differences reverse over time, resulting in taxable or deductible amounts in future years.
The deferred income tax benefit is further broken down into federal and state components. The federal deferred income tax benefit was $(2,626), while the state deferred income tax benefit was $(10,554). The sum of these amounts equals the total deferred income tax benefit of $(13,180) for Benjamin Franklin Plumbing in 2023.
For a prospective franchisee, understanding these figures is crucial for assessing the overall financial health and tax position of Benjamin Franklin Plumbing. A deferred tax benefit can be a valuable asset, potentially reducing future tax liabilities and improving cash flow. However, it's important to note that the actual realization of this benefit depends on the company's future profitability and tax laws. Franchisees should consult with a financial advisor to fully understand the implications of deferred income taxes and how they might affect their investment.