What was the income tax expense from continuing operations for Jack In The Box in 2023?
Jack_In_The_Box Franchise · 2025 FDDAnswer from 2025 FDD Document
ense, or income tax information; accordingly, this information by segment is not prepared or disclosed.
11. INCOME TAXES
Income taxes consist of the following in each fiscal year (in thousands):
| 2024 2023 | 2022 | |||
|---|---|---|---|---|
| Current: | ||||
| Federal | $ | 32,251 | $ 53,229 | $ 28,934 |
| State | 10,933 | 17,274 | 9,320 | |
| 43,184 | 70,503 | 38,254 | ||
| Deferred: | ||||
| F |
Source: Item 21 — FINANCIAL STATEMENTS (FDD pages 93–94)
What This Means (2025 FDD)
According to Jack In The Box's 2025 Franchise Disclosure Document, the income tax expense from continuing operations in 2023 was $58,514. This figure represents the total tax liability Jack In The Box incurred for its ongoing business activities during that fiscal year. It's important to note that this includes both current and deferred tax expenses.
The current portion of the income tax expense includes federal taxes of $53,229 and state taxes of $17,274. The deferred portion includes federal deferred taxes of ($10,642) and state deferred taxes of ($1,347). Deferred taxes arise from temporary differences between the accounting and tax treatment of certain items, which may result in tax liabilities or assets in the future.
For a prospective franchisee, understanding the income tax expense of the overall Jack In The Box business can provide insight into the financial health and profitability of the company. While franchisees are responsible for their own business's tax obligations, the financial stability of the parent company can impact the support and resources available to franchisees. Reviewing these figures over several years, as presented in the table, can reveal trends and potential areas of concern or strength.