What was the total provision for income taxes for Cool Binz as of December 31, 2024?
Cool_Binz Franchise · 2025 FDDAnswer from 2025 FDD Document
n facilities. As of December 31, 2024, there are $138 of sublease rentals to be received in future periods through 2026. Rental income (included in operating expense) under the sublease was $403, $385, and $268 for the years ended December 31, 2024, 2023, and 2022, respectively.
Notes to Consolidated Financial Statements (dollars in thousands)
11. Income Taxes
Source: Item 23 — RECEIPTS (FDD pages 63–238)
What This Means (2025 FDD)
According to Cool Binz's 2025 Franchise Disclosure Document, the total provision for income taxes as of December 31, 2024, was $482. This figure represents the sum of current income tax expense ($126) and deferred income tax expense ($356).
For a prospective franchisee, this information provides insight into Cool Binz's tax obligations and how they manage their income taxes. Understanding these figures can help franchisees assess the financial health and stability of the company. It's important to note that these figures are specific to Cool Binz and may not be representative of other franchise systems.
Furthermore, the FDD also includes figures for 2023 and 2022, allowing for a comparative analysis of Cool Binz's income tax expenses over time. Reviewing these trends can offer a more comprehensive understanding of the company's financial performance and tax management strategies. The total income tax expense (recovery) for 2023 was $477, and for 2022 (as restated) it was $(1,869).