What was the state income tax (expense) benefit for Sonesta Simply Suites in 2023 (in thousands)?
Sonesta_Simply_Suites Franchise · 2025 FDDAnswer from 2025 FDD Document
ands):
| Dece | ember 31, | |||
|---|---|---|---|---|
| 2024 | 2023 | 2022 | ||
| Total | $ (2,776) | $ | 1,581 | $ (2,749) |
For the periods during 2024, 2023, and 2022, our provisions for U.S., state, and foreign income taxes, if any
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 79)
What This Means (2025 FDD)
According to Sonesta Simply Suites's 2025 Franchise Disclosure Document, the state income tax (expense) benefit for 2023 was ($104) thousand. This figure is part of the broader disclosure of provisions for U.S., state, and foreign income taxes. The figures are presented in thousands of dollars.
For a prospective franchisee, this indicates that Sonesta Simply Suites experienced a state income tax expense benefit, which is essentially a reduction in income tax expense, during that year. This could be due to various factors such as tax credits, deductions, or changes in state tax laws.
It's important to note that this figure reflects the performance of Red Lion Hotels Corporation (RLHC), the parent company of Sonesta Simply Suites, and not necessarily the performance of an individual franchise location. Franchisees should consult with financial advisors to understand the tax implications specific to their business and location.