What was Chem Dry's current income tax expense in 2023?

According to Chem Dry's 2024 Franchise Disclosure Document, the company's current income tax expense for the year 2023 was $212,000. This figure reflects the amount of income taxes due and payable for the given year, as opposed to deferred tax expenses which relate to future tax obligations or benefits. This information is part of the consolidated statement of operations for Chem Dry.

Understanding the current income tax expense is crucial for prospective franchisees as it provides insight into the financial health and profitability of Chem Dry. It allows potential investors to assess how the company manages its tax obligations and how these obligations impact its overall financial performance. A significant change in income tax expense from year to year could signal changes in profitability, tax strategies, or accounting practices.

It's also important to note that the 2022 figures have been restated, suggesting possible adjustments or corrections to previously reported financial data. Franchisees should consider this when comparing the 2023 income tax expense to prior years, as the restatement could affect the comparability of the data. Reviewing the notes to the financial statements, particularly Note 11 regarding income taxes, can provide additional context and explanation for these figures.