MADISON GAS & ELECTRIC CO
For the period ended Sep 30, 2026. Filed Nov 4, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2026 · Filed Nov 4, 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 | ||||||||
|---|---|---|---|---|---|---|---|---|
| Effective income tax rate · 2026 · 2025 · 2026 · 2025 | ||||||||
| Three Months Ended September 30, | 14.3 | % | 14.9 | % | 11.4 | % | 13.6 | % |
| Nine Months Ended September 30, | 12.4 | % | 13.2 | % | 10.3 | % | 11.7 | % |
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 for the nine months ended September 30, 2026, 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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