What was the state income tax expense for Christian Brothers Automotive in 2022?
Christian_Brothers_Automotive Franchise · 2025 FDDAnswer from 2025 FDD Document
lders' equity | $ 663,061,823 | $ 576,351,339 |
Consolidated Statements of Income Years Ended December 31, 2023 and 2022
| 2023 | 2022 | |
|---|---|---|
| Revenues | $ 137,196,643 | $ 122,309,502 |
| Operating Costs and Expenses | ||
| Cost of revenues | 42,731,504 | 40,601,283 |
| Selling, general and administrative expenses | 50,507,014 | 41,565,152 |
| Compensation expense associated with ESOP | 10,121,713 | 14,206,798 |
| Total operating costs and expenses | 103,360,231 | 96,373,233 |
| Income from operations | 33,836,412 | 25,936,269 |
| Other Income (Expense) | ||
| Gains on sale-leaseback transactions | 2,044,287 | 920,683 |
| Gains on sale of leased properties | 3,613,496 | 13,994,953 |
| Interest income | 1,234,707 | 859,510 |
| Interest expense | (6,596,136) | (2,497,171) |
| Other income, net | (293,984) | 467,395 |
| Total other income, net | 2,370 | 13,745,370 |
| Net income before state income taxes | 33,838,782 | 39,681,639 |
| State Income Tax Expense | (1,799,431) | (1,535,256) |
| Net income | 32,039,351 | 38,146,383 |
| Less net income attributable to noncontrolling interest | (592,784) | (11, |
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 income tax expense for the company in 2022 was $(1,535,256). This figure represents the amount Christian Brothers Automotive paid in state income taxes during that fiscal year.
For a prospective franchisee, this information provides insight into the financial obligations of the franchisor. While franchisees do not directly pay the franchisor's state income taxes, the franchisor's overall financial health and profitability can impact the support and services they provide to franchisees. Understanding the tax expenses of Christian Brothers Automotive can contribute to a more comprehensive assessment of the franchise's financial stability.
It's important to note that this figure is a consolidated expense, reflecting the total state income taxes for all of Christian Brothers Automotive's operations. Franchisees should consider this information in conjunction with other financial data provided in the FDD, such as revenue, operating costs, and net income, to gain a holistic view of the franchisor's financial performance.