What was the federal current tax amount for Itan in 2022?
Itan Franchise · 2025 FDDAnswer from 2025 FDD Document
| Accrued payroll | $ | 4,743 | $ | 5,848 |
|---|---|---|---|---|
| Credit card payable | 100 | 42,852 | 25,551 | |
| $ | 47,595 | $ | 31,399 |
NOTE 8 CONTRACT LIABILITIES
The Company signed a ten year, non-refundable Area Development Agreement (ADA) in December 2023. Contract liabilities have been recognized for the full amount of the agreement of $115,000 as of December 31, 2023. The ADA is for
Source: Item 23 — RECEIPT (FDD pages 44–190)
What This Means (2025 FDD)
According to Itan's 2025 Franchise Disclosure Document, the federal current tax for 2022 was $51,157. This figure represents the amount of federal income taxes Itan owed and expected to pay for that year. It is important to note that this is just one component of Itan's overall tax obligations.
Prospective franchisees should understand that this figure reflects Itan's corporate tax liability as the franchisor. As a franchisee, your tax obligations will depend on your individual business structure (e.g., sole proprietorship, LLC, S-corp) and profitability. You will be responsible for paying federal, state, and local taxes on your franchise's income. It is advisable to consult with a tax professional to understand the specific tax implications of owning and operating an Itan franchise.
Reviewing Itan's tax information can provide insights into the company's financial health and tax planning strategies. However, franchisees should focus on understanding their own potential tax liabilities and how to manage them effectively. While Itan's FDD provides historical financial data, it is not a substitute for personalized tax advice.