What was the state current tax provision for Noodles & Company in 2024 (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 current state tax provision for 2024 was $33,000. This figure is part of the consolidated financial statements, which include Noodles & Company and its subsidiaries. These statements are prepared in accordance with accounting principles generally accepted in the United States of America (GAAP).
The current tax provision reflects the estimated amount of taxes payable or refundable for the current period under state tax laws. For a prospective franchisee, understanding these tax provisions is crucial as it provides insight into the company's tax obligations and financial health. It's important to note that tax laws can vary significantly by state, which could impact the overall profitability of franchise locations in different regions.
Reviewing the tax provisions over the three-year period (2022-2024) can reveal trends and potential fluctuations in Noodles & Company's tax liabilities. In 2023, the current state tax provision was ($2,000), and in 2022, it was $77,000. These variations may be due to changes in state tax laws, business operations, or accounting methods. A prospective franchisee should consult with a financial advisor to fully understand the implications of these tax figures and how they might affect their investment.