What was the cash paid for income taxes by Golden Krust Caribbean Restaurant in 2022?
Golden_Krust_Caribbean_Restaurant Franchise · 2024 FDDAnswer from 2024 FDD Document
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NOTE 15 - SUPPLEMENTARY CASH FLOW INFORMATION:
The following supplementary information relates to the statement of cash flow
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 35)
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.
For a prospective franchisee, understanding the franchisor's tax payments can provide insight into the company's financial health and tax management practices. While this figure represents the franchisor's payment, it's essential to recognize that franchisees will also have their own separate income tax obligations based on their individual business performance.
It is important to note that this number only reflects the cash paid for income taxes and does not reflect the total income tax expense for Golden Krust Caribbean Restaurant, which is reported separately on the income statement. Franchisees should consult with a financial advisor to understand the tax implications of owning and operating a Golden Krust Caribbean Restaurant franchise.