What was the current income tax expense for Chem Dry in 2021?

According to Chem Dry's 2024 Franchise Disclosure Document, the current income tax expense for 2021 was $424. This figure is part of the broader financial data presented in Item 23, which covers receipts and provides a snapshot of the company's financial performance over the past three years. This information is crucial for prospective franchisees as it offers insight into Chem Dry's profitability and tax obligations.

The income tax expense reflects the amount of taxes Chem Dry owes on its taxable income for that year. It's important to note that this is just one component of the total income tax expense, which also includes deferred income tax expenses or recoveries. Deferred income taxes arise from temporary differences between the accounting and tax treatment of certain items, and they can significantly impact the overall tax liability.

For a potential Chem Dry franchisee, understanding these figures is essential for assessing the financial health and stability of the franchise system. It's advisable to compare these numbers with industry benchmarks and to consult with a financial advisor to fully understand the implications of Chem Dry's tax situation. Reviewing the 'As Restated' column for 2022 is also important, as it indicates any adjustments made to previously reported figures, which could affect the accuracy and comparability of the data.