What was the cash paid for income taxes by My Salon Suite in the first disclosed year?
My_Salon_Suite Franchise · 2025 FDDAnswer from 2025 FDD Document
ents | | | | at | | | | end | | | | of | | | | year | | |
Consolidated Statements of Cash Flows
| Supplemental disclosure: Cash paid for income taxes | $ 5,028,164 | $ 2,603,475 | |------------------------------------------------------------------------------------------------------------------------
Source: Item 6 — Other Intangibles and Goodwill (FDD pages 274–314)
What This Means (2025 FDD)
According to My Salon Suite's 2025 Franchise Disclosure Document, the supplemental disclosure reveals the cash paid for income taxes. For the year ended December 31, 2022, My Salon Suite paid $2,603,475 in cash for income taxes.
This figure represents the actual cash outflow from My Salon Suite to cover its income tax obligations during that year. It is important for potential franchisees to understand this figure as it reflects the company's tax management and financial health. Franchisees may want to compare this figure with previous years and industry benchmarks to assess the company's financial performance and stability.
Reviewing these cash flow figures helps prospective franchisees understand the financial obligations and how My Salon Suite manages its tax responsibilities, which can be a key indicator of the overall financial management of the company.