What was the amount for non-deductible equity compensation for Corcoran in 2022?
Corcoran Franchise · 2025 FDDAnswer from 2025 FDD Document
| 2024 | 2023 | 2022 | |
|---|---|---|---|
| Federal statutory rate | 21 % | 21 % | 21 % |
| State and local income taxes, net of federal tax benefits | 5 | 1 | 3 |
| Non-deductible equity compensation | (1) | (1) | — |
| Non-deductible executive compensation | (4) | (4) | (1) |
| Goodwill impairment | — | (5) | (8) |
| Uncertain tax positions | — | — | (1) |
| Tax credits (a) | 5 | 6 | 7 |
| Net change in valuation allowance (b) | (21) | (5) | — |
| Other permanent differences | (3) | — | (2) |
| Effective tax rate | 2 % | 13 % | 19 % |
Source: Item 23 — RECEIPTS (FDD pages 75–276)
What This Means (2025 FDD)
According to Corcoran's 2025 Franchise Disclosure Document, the amount listed for non-deductible equity compensation in 2022 is not specified. The table provided in Item 23 shows a dash "—" for that year, indicating that there was no specific value recorded or disclosed for non-deductible equity compensation in 2022.
This lack of a specific figure could mean that Corcoran had no such expenses that year, or that the amount was negligible enough not to be separately itemized. It is important to note that this is distinct from non-deductible executive compensation, which is listed as (1) for 2022, but the units for this value are not specified in the table.
A prospective franchisee should clarify with Corcoran the meaning of the "—" entry. Understanding whether this indicates a zero value or simply an unlisted amount is crucial for a complete financial picture. Further investigation into executive compensation and equity structures might also be warranted to fully understand the company's financial practices.