What was the current federal income tax provision for Budget in 2024?
Budget Franchise · 2025 FDDAnswer from 2025 FDD Document
ties under vehicle programs - other of $203 million, $287 million, and $265 million, respectively, and receivables related to vehicle sales included in assets under vehicle programs - receivables from vehicle manufacturers and other of $287 million, $237 million, and $212 million, respectively.
Income Taxes
| Income laxes |
|---|
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 79)
What This Means (2025 FDD)
According to Budget's 2025 Franchise Disclosure Document, the current federal income tax provision for 2024 was $14,117. This figure represents the amount Budget expects to pay in federal income taxes for the year. It's a component of the overall provision for income taxes, which also includes state and foreign income taxes.
For a prospective Budget franchisee, understanding these tax provisions is crucial for assessing the financial health and stability of the company. While franchisees are responsible for their own business's taxes, the financial performance of the parent company can impact brand reputation and the resources available for franchisee support.
It's also important to note that this is just one element of Budget's overall tax situation. The document further details deferred tax assets and liabilities, unrecognized tax benefits, and various other factors that contribute to the company's total tax expense. Reviewing these details can provide a more comprehensive picture of Budget's tax strategy and potential risks.