How much state franchise tax did Caring Senior Service pay in 2023?
Caring_Senior_Service Franchise · 2025 FDDAnswer from 2025 FDD Document
INDEPENDENT AUDITOR'S REPORT
To the Partners of Caring Senior Service Franchise Partnership, L.P.
Opinion
We have audited the accompanying financial statements of Caring Senior Service Franchise Partnership, L.P. (a Texas limited partnership) (the Partnership), which comprise the balance sheets as of December 31, 2024, 2023, and 2022, and the related statements of operations, changes in partners' capital, and cash flows for the years then ended, and the related notes to the financial statements.
In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of the Partnership as of December 31, 2024, 2023, and 2022, and the results of its operations and its cash flows for the years then ended in accordance with accounting principles generally accepted in the United States of America.
Basis for Opinion
We conducted our audits in accordance with auditing standards generally accepted in the United States of America. Our responsibilities under those standards are further described in the Auditor's Responsibilities for the Audit of the Financial Statements section of our report. We are required to be independent of the Partnership and to meet our other ethical responsibilities in accordance with the relevant ethical requirements relating to our audits. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.
Restatement
As discussed in Note 10 to the financial statements, management identified accounts receivable in a prior period that were not recorded in accordance with generally accepted accounting principles. Accordingly, certain adjustments have been made to properly reflect accounts receivable and revenue in the prior period. Our opinion is not modified with respect to this matter.
Responsibilities of Management for the Financial Statements
Source: Item 23 — RECEIPTS (FDD pages 53–204)
What This Means (2025 FDD)
Based on the 2025 Franchise Disclosure Document, it is not possible to determine the amount of state franchise tax paid by Caring Senior Service in 2023. While the document includes financial statements audited for the years 2022, 2023, and 2024, it does not explicitly break down the specific amount paid for state franchise taxes. The document contains the independent auditor's report and discusses the nature of the organization, but it does not provide a detailed breakdown of tax payments.
Item 23 includes receipts and notes to the financial statements, but these do not specify the state franchise tax amount. The notes to the financial statements discuss the nature of the organization, its partners, and its operations, but they do not provide a detailed breakdown of tax payments. The independent auditor's report confirms that the financial statements present fairly the financial position of the Partnership, but it does not detail specific tax expenses.
To obtain information on the state franchise tax paid by Caring Senior Service in 2023, a prospective franchisee should consider asking the franchisor directly for a detailed breakdown of their tax expenses during the due diligence process. Reviewing the complete audited financial statements, if available, might also provide additional clarity. This information is crucial for understanding the financial obligations of the franchisor and assessing the overall financial health of the franchise system.