What is the state of incorporation for the registrant associated with Ledgers?

According to Ledgers' 2025 Franchise Disclosure Document, the registrant, Liberty Tax, Inc., is incorporated in the state of Delaware. This information is crucial for prospective franchisees as it identifies the legal jurisdiction under which the company is established. Understanding the state of incorporation can be relevant in legal and financial contexts, such as when assessing the company's compliance with corporate laws or evaluating potential liabilities. Delaware is a common choice for incorporation due to its business-friendly legal environment.

Knowing the state of incorporation helps franchisees understand which state laws govern the company's operations and internal affairs. This can be particularly important in the event of legal disputes or when interpreting the franchise agreement. For instance, certain provisions in the franchise agreement may be interpreted differently based on Delaware corporate law.

For a prospective Ledgers franchisee, this information provides a foundation for further due diligence. It would be prudent to research Delaware's corporate laws and understand how they might impact the franchise relationship. Additionally, franchisees should consult with legal counsel to fully understand their rights and obligations under both the franchise agreement and the relevant state laws.