What was the state income tax expense for Checkers for the year ended December 30, 2024?
Checkers Franchise · 2025 FDDAnswer from 2025 FDD Document
tructuring, Burger BossCo is subject to the Internal Revenue Code ("IRC") Section 382 for a change in ownership. The Company believes the annual limitation will restrict the utilization of the Company's IRC 163 interest expense attribute.
Income tax (benefit) expense consisted of the following:
| Current | | Period Ended For the Year June 17, 2023 Ended through December 30, January 1, 2024 2024 (Succe
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 91)
What This Means (2025 FDD)
According to Checkers' 2025 Franchise Disclosure Document, for the year ended December 30, 2024, the state income tax expense was $308. This figure is part of the broader financial statements that detail the company's income tax information. These statements provide a breakdown of various tax components, including federal and state taxes, both current and deferred.
For a prospective Checkers franchisee, understanding these figures is crucial for assessing the financial health and tax obligations of the company. The state income tax expense reflects the cost of doing business in various states and is a factor in the overall profitability of Checkers. It is important to note that this figure represents the expense at the corporate level and not necessarily the tax obligations of individual franchisees.
Reviewing the complete financial statements, including the balance sheets and statements of cash flow, will give potential franchisees a more comprehensive view of Checkers' financial performance. Additionally, consulting with a financial advisor can help in interpreting these statements and understanding the potential financial implications for their investment.