What was the change in income taxes for Bw Premier Collection in 2022 (in thousands)?
Bw_Premier_Collection Franchise · 2025 FDDAnswer from 2025 FDD Document
| income tax provision: | ||||
|---|---|---|---|---|
| 2023 | 2022 | |||
| (in thousands) | $ % | $ | % | |
| Income taxes computed at statutory rates | $ 24,478 21.0% | $ 22,042 | 21.0% | |
| State taxes, net of federal benefit | 4,445 3.8% | 3,364 | 3.2% | |
| Non-deductible meals and entertainment | 775 0.7% | 236 | 0.2% | |
| Other non-deductible items | 272 0.2% | 276 | 0.3% | |
| Valuation allowance | 150 0.1% | 912 | 0.9% | |
| Foreign-derived intangible income | (1,214) (1.0%) | (819) | (0.8%) | |
| Research and development and foreign tax credit | (1,041) (0.9%) | (7,802) | (7.4%) | |
| Other | (367) (0.3%) | (1,040) | (1.0%) | |
| Income tax provision | $ 27,498 23.6% | $ 17,169 | 16.4% |
Source: Item 23 — Receipts (FDD pages 54–203)
What This Means (2025 FDD)
According to Bw Premier Collection's 2025 Franchise Disclosure Document, the income tax provision for the year 2022 was $17,169 thousand. In 2023, the income tax provision was $27,498 thousand. This represents an increase in income tax provision of $10,329 thousand from 2022 to 2023.
The income tax provision includes several components. In 2022, these components included income taxes computed at statutory rates ($22,042 thousand), state taxes net of federal benefit ($3,364 thousand), non-deductible meals and entertainment ($236 thousand), other non-deductible items ($276 thousand), valuation allowance ($912 thousand), foreign-derived intangible income (-$819 thousand), research and development and foreign tax credit (-$7,802 thousand), and other items (-$1,040 thousand).
Prospective franchisees should note that these figures reflect the income tax situation for Bw Premier Collection as a whole. Individual franchisees will be responsible for their own income tax obligations based on their specific financial performance and circumstances. Reviewing these figures can, however, provide a general understanding of the tax-related factors affecting the franchisor's overall financial performance.