What was the federal current tax provision for Noodles & Company in 2023 (in thousands)?
Noodles_Company Franchise · 2025 FDDAnswer from 2025 FDD Document
nd other" and the offsetting lease expense has been recorded in "Restaurant impairments, closure costs and asset disposals" in the Consolidated Statement of Operations.
7. Income Taxes
The components of the provision (benefit) for income taxes are as follows for 2024, 2023 and 2022 (in thousands):
| 2024 | 2023 | 2022 |
|---|
Source: Item 22 — CONTRACTS (FDD pages 98–99)
What This Means (2025 FDD)
According to Noodles & Company's 2025 Franchise Disclosure Document, the federal current tax provision for 2023 was $0. This means that Noodles & Company did not have a federal income tax expense in 2023. This could be due to a number of factors, such as losses incurred during the year or tax credits that Noodles & Company was able to utilize.
In addition, the state current tax provision for Noodles & Company in 2023 was ($2). This means that Noodles & Company had a state income tax benefit in 2023. This could be due to a number of factors, such as tax deductions or credits that Noodles & Company was able to utilize at the state level.
The total provision for income taxes for Noodles & Company in 2023 was $24. This figure represents the sum of the current and deferred tax provisions at both the federal and state levels. It is important to note that this is just one factor to consider when evaluating the financial performance of Noodles & Company. A prospective franchisee should consult with a financial advisor to get a complete picture of the company's financial health.