What was the income taxes receivable (payable) for Exit in 2023?
Exit Franchise · 2025 FDDAnswer from 2025 FDD Document
roperty and equipment | 2,125,033 | - | 20,291 | | Impairment of digital assets | - | - | (1,820,185) | | Legal settlement | (1,500,000) | - | - | | Interest | 137,304 | 78,187 | 170,816 | | Total other income (expense) | 762,337 | 78,187 | (1,629,078) | | Loss before provision for income taxes and non-controlling | | | | | interests | (389,110) | (1,814,746) | (2,480,526) | | Benefit for income taxes | (459,827) | (486,997) | (342,266) | | Consolidated net income (loss) | 70,717 | (1,327,749) | (2,138,260) | | Noncontrolling interest in subsidiary's loss | 616 | 463 | 691 | | Net income (loss) before foreign currency translation gain (loss) | 71,333 | (1,327,286) | (2,137,569) | | Foreign currency translation gain (loss), net of tax | (162,790) | 7,338 | (40,611) | | Net comprehensive loss | $ (91,457) | $ (1,319,948) | $ (2,178,180) |
EXIT REALTY CORP. INTERNATIONAL CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY FOR THE YEARS ENDED DECEMBER 31, 2024, 2023 AND 2022
| Year Ending December | 31 | Amount | |---|---|---| | 2025 | | $ 290,017 | See accompanying notes to the consolidated financial statements
EXIT REALTY CORP. INTERNATIONAL CONSOLIDATED STATEMENTS OF CASH FLOWS FOR THE YEARS ENDED DECEMBER 31, 2024, 2023 AND 2022
| 2024 | 2023 | 2022 | |
|---|---|---|---|
Source: Item 23 — RECEIPT (FDD pages 42–235)
What This Means (2025 FDD)
According to Exit's 2025 Franchise Disclosure Document, the income taxes receivable (payable) in 2023 was a negative $1,009,378. This figure represents the net amount of income taxes that Exit either owed (payable) or was due to receive (receivable) from tax authorities during that year. A negative value indicates that Exit had an income tax liability, meaning they owed more in taxes than they were due to receive.
This information is part of the cash flows from operating activities section, which provides insights into how Exit's core business operations affect its cash position. Monitoring income taxes payable is crucial for franchisees as it reflects the company's financial health and its ability to manage its tax obligations. Significant changes in this figure from year to year could indicate shifts in profitability, tax planning strategies, or accounting practices.
Prospective Exit franchisees should pay close attention to these figures as they provide a glimpse into the financial management and stability of the company. Understanding the context behind these numbers, such as changes in tax laws or company performance, is essential for making informed investment decisions. Consulting with a financial advisor to interpret these figures in relation to the overall financial health of Exit is advisable.