PNC FINANCIAL SERVICES GROUP INC
For the period ended Dec 31, 2023. Filed Feb 21, 2024.
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FY2023 · Filed Feb 21, 2024
PNC$231.300.0%Stored close · as of Nov 10, 2026
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Reconciliation of Statutory and Effective Tax Rates
A reconciliation between the statutory and effective tax rates follows:
Table 103: Reconciliation of Statutory and Effective Tax Rates
| Year ended December 31 | 2023 | 2022 | 2021 |
|---|---|---|---|
| Statutory tax rate | 21.0% | 21.0% | 21.0% |
| Increases (decreases) resulting from: | |||
| State taxes net of federal benefit | 2.9 | 2.7 | 2.6 |
| Tax-exempt interest | (1.7) | (1.2) | (0.9) |
| Life insurance | (0.9) | (0.8) | (0.8) |
| Tax credits | (5.2) | (3.2) | (4.4) |
| Other | 0.1 | (0.3) | 0.6 |
| Effective tax rate | 16.2% | 18.2% | 18.1% |
The PNC Financial Services Group, Inc. –2023 Form 10-K 165
The net operating loss carryforwards at December 31, 2023 and 2022 follow:
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