What were the state and property taxes payable for Christian Brothers Automotive as of December 31, 2024?
Christian_Brothers_Automotive Franchise · 2025 FDDAnswer from 2025 FDD Document
d 2023
| 2024 | 2023 | |
|---|---|---|
| Revenues | $ 151,946,558 | $ 137,196,643 |
| Operating Costs and Expenses | ||
| Cost of revenues | 48,621,617 | 42,731,504 |
| Selling, general and administrative expenses | 59,470,531 | 50,507,014 |
| Compensation expense associated with ESOP | 5,089,319 | 10,121,713 |
| Total operating costs and expenses | 113,181,467 | 103,360,231 |
| Income from operations | 38,765,091 | 33,836,412 |
| Other Income (Expense) | ||
| Gains on sale-leaseback transactions | 3,633,369 | 2,044,287 |
| Gains on sale of leased properties | 18,119,450 | 3,613,496 |
| Interest income | 2,547,773 | 1,234,707 |
| Interest expense | (10,391,857) | (6,596,136) |
| Other income, net | 1,219,419 | (293,984) |
| Total other income, net | 15,128,154 | 2,370 |
| Net income before state income taxes | 53,893,245 | 33,838,782 |
| State Income Tax Expense | (780,073) | (1,799,431) |
| Net income | 53,113,172 | 32,039,351 |
| Less Net Income (Loss) Attributable to Noncontrolling Interest | 8,275,053 | (592,784) |
| Net income attributable to Christian Brothers | $ 44,838,119 | $ 31,446,567 |
| Automotive Corporatio |
Source: Item 23 — RECEIPTS (FDD pages 76–372)
What This Means (2025 FDD)
According to Christian Brothers Automotive's 2025 Franchise Disclosure Document, the net income before state income taxes was $53,893,245 in 2024. The state income tax expense was listed as ($780,073) for the same year.
This means that Christian Brothers Automotive had a substantial income before accounting for state income taxes. However, the document only specifies the state income tax expense, and does not provide a figure for property taxes.
A prospective franchisee should note that while the FDD provides an overview of the brand's financial performance, it does not offer a comprehensive breakdown of all tax obligations. To gain a clearer understanding of the tax liabilities associated with operating a Christian Brothers Automotive franchise, it is essential to consult with the franchisor directly.