What was the total provision for income taxes for Chem Dry in 2023?
Chem_Dry Franchise · 2024 FDDAnswer from 2024 FDD Document
operating leases | |
December 31, 2023, 2022, and 2021 (000s omitted)
Note 10 - Leases (Continued)
The Company subleases certain facilities. As of December 31, 2023, there are no sublease rentals to be received in future periods. Rental income under the sublease was $385, $268, and $269 for the years ended December 31, 2023
Source: Item 23 — Receipts (FDD pages 68–264)
What This Means (2024 FDD)
According to Chem Dry's 2024 Franchise Disclosure Document, the total provision for income taxes in 2023 was $477. This figure represents the sum of several components related to income taxes, including current income tax expense of $212, and deferred income tax expense of $265.
In 2022, Chem Dry had an income tax recovery of $(1,869), and in 2021, the total provision for income taxes was $1,219. These figures provide a comparative view of Chem Dry's income tax liabilities or recoveries over the three-year period.
For a prospective franchisee, understanding these figures is crucial for assessing the financial health and stability of Chem Dry. It's important to note that these numbers reflect the company's overall tax situation and may not directly correlate with an individual franchisee's tax obligations. However, they offer insight into how the company manages its tax responsibilities and the potential impact of tax-related factors on its financial performance.