MADISON GAS & ELECTRIC CO
For the period ended Mar 31, 2026. Filed May 5, 2026.
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Mar 31, 2026 · Filed May 5, 2026
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4. Taxes
nergy and MGE.
Effective Tax Rate.
The effective income tax rates for the period, computed by dividing income tax expense by income before taxes, were as follows:
| MGE Energy · MGE | ||||||||
|---|---|---|---|---|---|---|---|---|
| Three Months Ended March 31, · 2026 · 2025 · 2026 · 2025 | ||||||||
| Effective income tax rate | 10.8 | % | 13.1 | % | 9.2 | % | 11.8 | % |
The effective tax rates were different than the federal statutory rate primarily due to state income taxes, net of the related federal tax benefit, federal production tax credits (PTC) and investment tax credits (ITC), the amortization of excess deferred taxes, and the impact of non-taxable income related to the equity portion of Allowance for Funds Used During Construction (AFUDC), net of depreciation. For both MGE Energy and MGE, the decrease in the effective tax rate compared to the prior year period was driven primarily by additional federal tax credits associated with renewable generation and energy storage projects, as well as increased non-taxable income related to the equity portion of AFUDC on projects under construction.
Pensi
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