What was the total income tax expense (recovery) for Cool Binz as of December 31, 2024?
Cool_Binz Franchise · 2025 FDDAnswer from 2025 FDD Document
[Item 23: RECEIPTS]
| December 31, | 2024 | 2023 | 2022 (as restated) |
|---|---|---|---|
| Current income tax expense | $ 126 | $ 212 | $ 726 |
| Deferred income tax expense (recovery) | 356 | 265 | (2,595) |
| Total Income Tax Expense (Recovery) | $ 482 | $ 477 | $ (1,869) |
Source: Item 23 — RECEIPTS (FDD pages 63–238)
What This Means (2025 FDD)
According to Cool Binz's 2025 Franchise Disclosure Document, the total income tax expense for the year ending December 31, 2024, was $482. This figure represents the sum of the current income tax expense of $126 and the deferred income tax expense (recovery) of $356.
For a prospective franchisee, this information provides insight into Cool Binz's tax obligations and profitability. Understanding the company's tax expenses can help franchisees assess the financial health and stability of the franchisor. It's important to note that these figures reflect Cool Binz's corporate-level expenses and may not directly correlate with a franchisee's individual tax liabilities, which will depend on their specific business structure and local tax laws.
It is also worth noting that the FDD includes comparative data from previous years. For example, the total income tax expense was $477 for the year ending December 31, 2023, and a recovery of $(1,869) for the year ending December 31, 2022. Reviewing these trends over time can offer a more comprehensive understanding of Cool Binz's financial performance and tax management strategies. A prospective franchisee should consult with a financial advisor to fully understand the implications of these figures.