What was the reported value of State and property taxes payable for Christian Brothers Automotive?
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 | 11,148,029 |
| Current portion of long-term debt | 6,203,979 | 8,761,256 |
| Current portion of subordinated debt | - | 1,618,000 |
| Operating lease liability, current | 41,198,967 | 39,040,315 |
| Other current liabilities | 1,550,049 | 2,853,787 |
| Total current liabilities | 78,611,747 | 76,330,292 |
| Deferred Gain on Sale of Leased Properties | 6,300,242 | 7,153,473 |
| Operating Lease Liability, Long-Term | 412,389,122 |
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 were reported as part of the company's liabilities. In 2024, the state and property taxes payable amounted to $495,321, while in 2023, this figure was $1,101,099. This indicates a decrease in state and property taxes payable from 2023 to 2024.
For a prospective Christian Brothers Automotive franchisee, understanding these figures is crucial as it provides insight into the company's financial obligations related to state and property taxes. While these are the liabilities of the corporation, it gives the franchisee an idea of the tax burden at the corporate level. Franchisees should consider how changes in tax liabilities might affect the franchisor's financial health and its ability to support the franchise system.
It's important to note that these figures represent the consolidated financial statements of Christian Brothers Automotive Corporation and may not directly reflect the specific tax liabilities of an individual franchise location. Prospective franchisees should consult with a financial advisor to understand the potential state and property tax obligations for their specific location and business circumstances. Reviewing these figures in the context of the overall financial health of Christian Brothers Automotive can help franchisees assess the stability and reliability of the franchise system.