What was the amount of state income taxes paid by C12 Group in 2021?
C12_Group Franchise · 2025 FDDAnswer from 2025 FDD Document
pital - End of Year | $ 1,843,880 | $ 1,312,531 | The accompanying notes are an integral part of these consolidated financial statements.
Consolidated Statements of Cash Flows Years Ended December 31, 2022 and 2021
| 2022 | 2021 | |
|---|---|---|
| Cash Flows From Operating Activities: | $ 640,867 | $ 296,300 |
| Net Income | ||
| Adjustments to Reconcile Net Income to Net Cash | ||
| Provided (Used) by Operating Activities: | 101,471 | 57,769 |
| Depreciation and Amortization | ||
| (Increase) Decrease in: | ||
| Accounts Receivable Supplies Inventory and Other Assets Other Operating Lease Right-of-Use Assets Increase (Decrease) in: | (84,865) (63,920) 12,669 124,177 | (37,300) 32,237 (35,816) - |
| Accounts Payable | 51,858 | 135,405 |
| Accrued Liabilities | (1,643) | 57,238 |
| Unearned Revenue | 815,784 | (266,018) |
| Operating Lease Liabilities | (131,509) | - |
| Net Cash Provided by Operating Activities | 1,464,889 | 239,815 |
| Cash Flows From Investing Activities: Purchase of Property and Equipment Proceeds from Sale of Fixed Assets Net Cash Used by Investing Activities | (102,668) - (102,668) | (297,463) - (297,463) |
| Cash Flows From Financing Activities: Distributions Net Cash Used by Financing Activities | (109,518) (109,518) | (269,679) (269,679) |
| Net Increase (Decrease) in Cash and Cash Equivalents | 1,252,703 | (327,327) |
| Cash |
Source: Item 22 — CONTRACTS (FDD page 46)
What This Means (2025 FDD)
According to C12 Group's 2025 Franchise Disclosure Document, the company paid $17,113 in state income taxes in 2021. This figure is part of the consolidated financial statements, which include the accounts of The C12 Group, LLC and C12 Atlanta, LLC. These statements are prepared in conformity with United States generally accepted accounting principles (GAAP).
For a prospective franchisee, this indicates the level of state income tax obligations C12 Group faced during that year. It is important to note that this amount reflects the company's specific financial situation and the tax laws applicable at the time. The amount of taxes a franchisee might pay can vary based on their individual circumstances and location.
It is also worth noting that the state income taxes paid in 2022 were $3,393, which is significantly lower than the amount paid in 2021. This difference could be due to various factors, such as changes in profitability, tax laws, or accounting methods. A potential franchisee should consider these fluctuations when assessing the financial performance of C12 Group.