How much cash was paid for income taxes by Zoomin Groomin in 2022?
Zoomin_Groomin Franchise · 2025 FDDAnswer from 2025 FDD Document
-----| | Member Contributions | - | | Member Distributions | - | | Net Income (Loss) | (482,370) | | Equity at December 31, 2022 | $ (693,256) | | Equity at January 1, 2023 | $ (693,256) | | Member Contributions | - | | Member Distributions | - | | Net Income (Loss) | (1,117,726) | | Equity at December 31, 2023 | $ (1,810,982) | | Equity at January 1, 2024 | $ (1,810,982) | | Member Contributions | - | | Member Distributions | - | | Net Income (Loss) | (1,825,281) | | Equity at December 31, 2024 | $ (3,636,263) |
Statements of Cash Flows For The Three Years Ended December 31, 2024
| 2024 | 2023 | 2022 | |
|---|---|---|---|
| Cash Flows From Operating Activities: | |||
| Net Income (Loss) | $ (1,825,281) | $ (1,117,726) | $ (482,370) |
| Adjustments to Reconcile Net Loss to Net | |||
| Cash Provided by Operating Activities: | |||
| Depreciation & Amortization | 6,000 | 6,000 | 6,000 |
| Changes in Assets and Liabilities | |||
| (Increase) Decrease in Inventory | 7,308 | 76,872 | 128,467 |
| (Increase) Decrease in Accounts Receivable | (173,640) | (51,110) | (91,766) |
| (Increase) Decrease in Prepaid Expenses | 8 | (1,510) | (28) |
| Increase (Decrease) in Accounts Payable | (71,077) | 81,530 | 44 |
| Increase (Decrease) in Unearned Revenue | 60,000 | 40,000 | - |
| Increase (Decrease) in Deferred Revenue | 4,334,346 | 3,366,736 | 1,050,392 |
| Net Cash Provided by Operating Activities | 2,337,664 | 2,400,792 | 610,739 |
| Cash Flows From Investing Activities: | |||
| Due To Affiliates | (45,000) | (1 |
Source: Item 9 — 01. Financial Statements and Exhibits. (FDD pages 68–156)
What This Means (2025 FDD)
Based on the 2025 Zoomin Groomin Franchise Disclosure Document, there is no explicit mention of cash paid for income taxes in 2022 within the provided financial statements. The document includes the company's balance sheets, statements of operations, member's equity, and cash flows for the three years ending December 31, 2024, but it does not break down income tax payments as a separate line item in the cash flow statements.
While the cash flow statements detail various cash inflows and outflows related to operating, investing, and financing activities, there isn't a specific figure for income taxes paid. The statements do include a line for "Net Income (Loss)" for 2022, which is reported as ($482,370). Additionally, there is an "Income Tax Asset" listed on the balance sheet, but this represents an asset rather than a cash outflow for taxes paid.
Therefore, a prospective Zoomin Groomin franchisee would need to request further clarification from the franchisor regarding income tax payments. Specifically, they should ask for a detailed breakdown of cash outflows related to income taxes for the years 2022, 2023, and 2024 to gain a clearer understanding of the company's tax obligations and financial performance.