What was the amount of income taxes paid by Golden Krust Caribbean Restaurant in 2022?
Golden_Krust_Caribbean_Restaurant Franchise · 2024 FDDAnswer from 2024 FDD Document
| 2023 | 2022 | ||
|---|---|---|---|
| Cash Paid for: | |||
| Interest | $ 97,929 | $ 47,923 | |
| Income Taxes | $ 51,489 | $ 1,414 |
Source: Item 23 — RECEIPT (FDD pages 35–153)
What This Means (2024 FDD)
According to Golden Krust Caribbean Restaurant's 2024 Franchise Disclosure Document, the cash paid for income taxes in 2022 was $1,414. This figure reflects the actual cash outflow for income taxes during that year.
It is important to note that this amount may differ from the 'Recoveries of (Provision for) Income Taxes' reported elsewhere in the document, which accounts for changes in deferred tax assets and liabilities and other non-cash adjustments related to income taxes. The cash paid figure provides a clearer picture of the company's actual tax payments during the specified period.
A prospective franchisee should consider this information in conjunction with the company's overall financial performance and tax strategies. Understanding the difference between cash paid for income taxes and the provision for income taxes can offer valuable insights into the company's tax management practices and potential future tax obligations.