As of December 31, 2024, which tax years were subject to examination for Face Foundrie?

According to Face Foundrie's 2025 Franchise Disclosure Document, as of December 31, 2024, the tax years 2023, 2022, and 2021 were subject to examination by taxing authorities. This means that these years were still open to review and potential audit by government tax agencies as of that date.

For a prospective Face Foundrie franchisee, this information is relevant because it provides insight into the company's tax compliance and potential liabilities. While the tax liabilities, if any, would be imposed on the members rather than the company, understanding which years are open for examination can help assess the overall financial health and stability of the franchise.

It is typical for tax authorities to have a window of time to examine tax returns, often three years, as is the case with Face Foundrie. Franchisees should be aware of these timelines and understand that any discrepancies found during an examination could have implications for the company's financial performance, even if the direct tax burden falls on the members. Reviewing the financial statements and notes, including those related to income taxes, can provide a more comprehensive understanding of the company's tax situation.