What was the total income tax expense for My Salon Suite in 2024?
My_Salon_Suite Franchise · 2025 FDDAnswer from 2025 FDD Document
me taxes consists of the following for the years ended December 31:
| 2024 | 2023 | |
|---|---|---|
| Current: Federal State Foreign | $ 8,518,832 970,215 228,704 | $ 7,383,607 1,182,311 194,807 |
| Total current | 9,717,751 | 8,760,725 |
| Deferred: Federal State | (644,155 ) (152,450 ) | 147,498 34,769 |
| Total deferred | (796,605 ) |
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 total income tax expense for the company in 2024 was $8,921,146. This figure represents the total expense the company incurred for income taxes during that fiscal year.
Understanding a company's income tax expense can be valuable for prospective franchisees. It provides insight into the company's profitability and how it manages its tax obligations. A significant tax expense can indicate higher profitability, but it's also important to consider the company's tax strategies and compliance.
It is important to note that this figure is just one component of My Salon Suite's overall financial performance. A prospective franchisee should review the company's complete financial statements, including revenues, expenses, assets, and liabilities, to gain a comprehensive understanding of its financial health. Consulting with a financial advisor is recommended to fully assess the financial implications of investing in a My Salon Suite franchise.