How much did Itan pay in income taxes 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 company's income tax expense for the year 2022 was $117,133. This figure represents the total amount of income taxes, including both current and deferred taxes, that Itan accrued as an expense during that year.
The current taxes for 2022 include $51,157 in federal income taxes and $25,590 in state income taxes. Deferred taxes for the same year amounted to $27,628 in federal deferred taxes and $12,758 in state deferred taxes. These components sum up to the total income tax expense of $117,133 for Itan in 2022.
Prospective franchisees should note that income tax expenses can vary significantly from year to year, depending on factors such as revenue, deductible expenses, and changes in tax laws. Reviewing Itan's past tax expenses can provide a general understanding of the company's tax obligations, but it is not a guarantee of future tax liabilities. Franchisees should consult with a financial advisor to understand the potential tax implications of investing in an Itan franchise.