Talen Energy Corp
For the period ended Jun 30, 2025. Filed Aug 7, 2025.
View on SEC.govAbout this filing
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.
Jun 30, 2025 · Filed Aug 7, 2025
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4. Income Taxes
- Income Taxes
Effective Tax Rate Reconciliations
The reconciliations of the effective tax rate for the periods were:
| Three Months Ended June 30, | Six Months Ended June 30, | |||
|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | |
| Income (loss) before income taxes | $97 | $570 | $(90) | $958 |
| Income tax benefit (expense) | (25) | (112) | 27 | (181) |
| Effective tax rate | 25.8% | 19.6% | 30.0% | 18.9% |
| Federal income tax statutory tax rate | 21% | 21% | 21% | 21% |
| Income tax benefit (expense) computed at the federal income tax statutory tax rate | $(20) | $(120) | $19 | $(201) |
| Income tax increase (decrease) due to: | ||||
| NDT taxes | (12) | (4) | (10) | (15) |
| State income taxes, net of federal benefit | (2) | (17) | 3 | (29) |
| Other permanent differences | 9 | 6 | 15 | 12 |
| Change in valuation allowance | — | 14 | — | 34 |
| Nuclear PTC | — | 9 | — | 18 |
| Income tax benefit (expense) | $(25) | $(112) | $27 | $(181) |
One Big Beautiful Bill Act
On July 4, 2025, the One Big Beautiful Bill Act (the “OBBB”) was signed into law. The OBBB, among other things, makes key elements of the Tax Cuts and Jobs Act permanent, including 100% bonus depreciation, domestic research cost expensing, and the business interest expense limitation. The Company is in the process of evaluating the financial effects of the OBBB to its income tax provision.
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