What Curry Up Now reports to the IRS and why it matters to you

Curry Up Now is a fast-casual Indian restaurant chain that files tax returns like any other business. If you own a franchise location, work there, or are researching how restaurant chains report their finances, understanding what forms they file and what those forms reveal can help you make decisions about your own tax situation or business structure.

The chain files corporate tax returns (Form 1120 or 1120-S depending on structure), employment tax forms for staff wages, and state-level filings in each state where it operates. These documents show revenue, operating costs, payroll, and profit — information that matters if you are considering franchise ownership, comparing restaurant business models, or understanding how multi-location chains handle tax compliance.

Key Takeaways

  • Curry Up Now files federal corporate tax returns and state filings in each location where it operates, which are public records you can request from the IRS or state revenue departments.
  • If you own a Curry Up Now franchise, you file your own separate tax return and report your franchise income on Schedule C (sole proprietor) or Form 1120-S (S-corp), not on the chain's return.
  • The chain reports payroll taxes (Form 941) quarterly for all employees across all locations, and each location must also file state employment tax returns.
  • Restaurant chains typically report cost of goods sold, labor costs, rent, and utilities as major deductions, which you can use to estimate expenses if you are considering franchise ownership.

Corporate tax returns Curry Up Now files

Curry Up Now files a federal corporate income tax return each year. The form depends on how the company is structured: if it is a C corporation, it files Form 1120; if it is an S corporation or LLC taxed as an S corp, it files Form 1120-S. The return shows total revenue from all locations, cost of goods sold (food, packaging, delivery costs), operating expenses, and taxable income.

This return is filed with the IRS and is generally not public, but you can request it under certain circumstances. If you are considering buying a franchise, the franchisor may provide Item 19 of the Franchise Disclosure Document (FDD), which shows average unit volumes and costs for existing franchisees — this is often more useful than the corporate return because it shows what individual locations actually earn.

Curry Up Now also files state corporate tax returns in California (where it is headquartered) and in any other state where it has locations or significant business activity. These filings vary by state but typically require reporting of revenue and tax liability. Some states make these filings public; others do not.

Employment tax forms and payroll reporting

Curry Up Now files Form 941 (Employer's Quarterly Federal Tax Return) four times per year to report wages paid to all employees, federal income tax withheld, and Social Security and Medicare taxes. This form covers every location and every employee on the payroll.

The chain also files Form 940 (Employer's Annual Federal Unemployment Tax Return) once per year to report federal unemployment insurance tax (FUTA) owed on wages. Additionally, Curry Up Now files state unemployment insurance returns in each state where it has employees, because unemployment tax rates and wage bases vary by state.

If you work at a Curry Up Now location, you receive a W-2 from the company (or from the franchisee if it is a franchise location) showing your wages, withholdings, and taxes paid. If you own a franchise location, you are responsible for filing these same forms for your own employees — the corporate chain does not file them for you.

What franchise owners report separately

If you own a Curry Up Now franchise, you do not report your income on the corporate return. Instead, you file your own business tax return showing your franchise's revenue and expenses. The form you use depends on your business structure: Schedule C (Form 1040) if you are a sole proprietor, Form 1120-S if you are an S corporation, or Form 1065 if you are a partnership.

Your return shows revenue from your location, minus cost of goods sold (food purchases, packaging, delivery costs), labor (wages and payroll taxes for your employees), rent, utilities, royalties paid to Curry Up Now, marketing fees, and other operating expenses. The profit or loss flows to your personal tax return (Schedule C) or is divided among owners (S corp or partnership).

You are also responsible for filing your own employment tax forms (Form 941 and Form 940) for your employees, even though you operate under the Curry Up Now brand. The corporate chain does not file these for you.

State and local tax filings

Curry Up Now files sales tax returns in California and any other state with a sales tax where it operates. The return shows total sales, taxable sales, and sales tax collected from customers. Sales tax is held in trust and remitted to the state — it is not income to the business.

In California, the chain also files a Seller's Permit process (Form BOE-400-A) with the Department of Tax and Fee Administration. This permit is required to collect and report sales tax. If Curry Up Now operates in other states, it files similar permits and returns with those states' revenue departments.

Franchise locations may file their own sales tax returns depending on state law and how the franchise agreement is structured. Some states require the franchisee to file; others allow the franchisor to file on behalf of all locations. You should confirm this with your accountant and the franchisor before opening a location.

Deductions and expenses restaurants typically claim

Curry Up Now and its franchisees deduct the major costs of running a restaurant. Cost of goods sold (COGS) includes all food purchases, packaging, and delivery costs — typically 28 to 35 percent of revenue for fast-casual restaurants. Labor costs (wages, payroll taxes, benefits) usually run 25 to 35 percent of revenue.

Other common deductions include rent or mortgage on the location, utilities (electric, gas, water), insurance (liability, property, workers' compensation), equipment maintenance and repairs, credit card processing fees, point-of-sale system costs, and marketing. Depreciation on equipment and leasehold improvements is also deducted over time using Form 4562.

Royalties paid to Curry Up Now (typically 5 to 7 percent of revenue for franchisees) are deducted as a business expense. Franchise fees paid upfront are capitalized and depreciated over the life of the franchise agreement, not deducted all at once.

How to find Curry Up Now's public tax information

Curry Up Now's federal corporate tax return (Form 1120 or 1120-S) is not automatically public, but you can request it from the IRS under certain circumstances. If the company is a nonprofit (which it is not), the return would be public. If you are a shareholder, creditor, or have a legal interest, you may be able to request it.

California corporate filings are available through the California Secretary of State's website. You can search for Curry Up Now by name and view the company's articles of incorporation, annual reports, and registered agent information. These documents do not show tax returns but do show the company's legal structure and status.

If you are considering buying a franchise, request the Franchise Disclosure Document (FDD) from Curry Up Now. Item 19 of the FDD shows average unit volumes, costs, and profitability for existing franchisees — this is far more useful than corporate tax returns for understanding what you might earn.

Frequently Asked Questions

Do I have to file taxes separately if I own a Curry Up Now franchise?

Yes. You file your own business tax return (Schedule C, Form 1120-S, or Form 1065) showing your franchise's revenue and expenses. The corporate chain's tax return does not include your location's income. You are also responsible for your own payroll taxes, sales tax returns, and state filings.

What is the difference between the corporate return and what franchisees report?

The corporate return shows the company's overall revenue and expenses across all company-owned locations and corporate operations. Franchisee returns show only that individual location's revenue and expenses. If Curry Up Now has both company-owned and franchise locations, the corporate return includes only the company-owned ones.

Can I see Curry Up Now's tax return before buying a franchise?

The corporate return is not public. However, the Franchise Disclosure Document (FDD) includes Item 19, which shows average revenue, costs, and profit for existing franchisees. This is more useful than the corporate return because it shows what individual locations actually earn.

What happens if a Curry Up Now location does not file taxes?

The franchisee (or corporate location manager) is responsible for filing. Failure to file results in penalties, interest, and potential criminal charges. The IRS can also assess taxes based on estimated income if no return is filed. The franchisor is not liable for the franchisee's tax compliance.

Are Curry Up Now's sales tax filings public?

Sales tax returns are generally not public. However, if the company is audited, the state revenue department may investigate sales tax compliance. If you own a franchise, you file your own sales tax return separately from the corporate chain.