What was the total current income tax provision for Best Western in 2022 (in thousands)?
Best_Western Franchise · 2025 FDDAnswer from 2025 FDD Document
and other current assets consisted of the following:
| (in thousands) | 2023 | 2022 |
|---|---|---|
| Prepaid expenses and other current assets | $ 17,060 | $ 16,301 |
| Current contract assets | 957 | 964 |
| Total | $ 18,017 | $ 17,265 |
(5) Income Taxes
The income tax provision for the years ended N
Source: Item 23 — Receipts (FDD pages 108–413)
What This Means (2025 FDD)
According to Best Western's 2025 Franchise Disclosure Document, the total current income tax provision for Best Western in 2022 was $15,990,000 (in thousands). This figure represents the sum of federal, foreign, and state current income taxes for that year. Understanding the components of Best Western's income tax provision can help potential franchisees assess the brand's financial health and stability.
Specifically, the current income tax provision includes $15,966,000 in federal taxes and $335,000 in foreign taxes. However, the state taxes show a negative amount of ($311,000). This negative value may reflect tax benefits or credits received at the state level, which offset the overall current income tax provision.
It's important to note that this is just the current portion of the income tax provision. Best Western also has deferred tax liabilities, which represent taxes that are expected to be paid in future years. Reviewing both the current and deferred tax components provides a more complete picture of the company's tax obligations and financial performance.