What was the tax rate change for Noodles & Company in 2024 (in thousands)?
Noodles_Company Franchise · 2025 FDDAnswer from 2025 FDD Document
l provision for income taxes | $ | 54 | $ 24 | $ 37 |
The reconciliation of income tax provision (benefit) that would result from applying the federal statutory rate to pre-tax income as shown in the accompanying Consolidated Statements of Operations is as follows for 2024, 2023 and 2022 (in thousands):
| 2024 | 2023 | 2022 | |
|---|---|---|---|
| Federal income tax benefit at federal rate | $ (7,730) | $ (2,065) | $ (688) |
| State income tax benefit, net of federal tax | (1,793) | (420) | (112) |
| Other permanent differences | 783 | 629 | 368 |
| Tax credits | (1,400) | (1,51 |
Source: Item 22 — CONTRACTS (FDD pages 98–99)
What This Means (2025 FDD)
According to Noodles & Company's 2025 Franchise Disclosure Document, the tax rate change for the company in 2024 was $74,000. This figure is part of a reconciliation of the income tax provision, which shows how the company's effective tax rate differs from the federal statutory rate.
This information is relevant for prospective franchisees as it provides insight into Noodles & Company's tax situation and how it manages its tax obligations. Understanding these figures can help franchisees assess the financial health and stability of the company. The tax rate change can be influenced by various factors, including changes in tax laws, company performance, and tax planning strategies.
It's important to note that this figure represents only one component of the overall tax provision and should be considered in conjunction with other financial data to gain a comprehensive understanding of Noodles & Company's financial performance. Franchisees should consult with financial advisors to interpret these figures in the context of their investment decision.