What was the amount of state and property taxes payable for Christian Brothers Automotive in 2024?
Christian_Brothers_Automotive Franchise · 2025 FDDAnswer from 2025 FDD Document
d 2023
| 2024 | 2023 | |
|---|---|---|
| Liabilities and Shareholders' Equity | ||
| Current Liabilities | ||
| Accounts payable | $ 7,189,575 | $ 2,904,676 |
| Accrued expenses | 7,354,134 | 6,348,505 |
| State and property taxes payable | 495,321 | 1,101,099 |
| Distributions payable | 2,877,692 | 2,554,625 |
| Contract liabilities | 11,742,030 | 11,14 |
Source: Item 23 — RECEIPTS (FDD pages 76–372)
What This Means (2025 FDD)
According to Christian Brothers Automotive's 2025 Franchise Disclosure Document, the state and property taxes payable in 2024 were $495,321. In comparison, the state and property taxes payable in 2023 were $1,101,099.
This figure represents the amount Christian Brothers Automotive owed in state and property taxes as of the end of the 2024 fiscal year, but had not yet paid. It is a snapshot of their tax liability at that specific point in time. The decrease from 2023 to 2024 could be due to a variety of factors, such as changes in property values, tax rates, or the timing of payments.
For a prospective franchisee, this information provides insight into the tax obligations of Christian Brothers Automotive. While franchisees are responsible for their own local taxes, understanding the financial obligations of the parent company can offer a broader view of the brand's financial health and management. Reviewing these figures over several years, if available, can reveal trends and potential areas of concern or stability.
It's important to note that this figure reflects the company's overall tax liabilities and not necessarily the tax burden of individual franchise locations. Franchisees should consult with a financial advisor to understand their specific tax obligations and how they might be affected by local and state regulations.