Company: SOJE
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0000092122-25-000076
Chunk: 236

Company: SOUTHERN CO
Filing Date: 2025-07-31
Form: 10-Q
Item: Item 8
Chunk 236
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 tax rate was 21.1% for the six months ended June 30, 2025 compared to 18.5% for the corresponding period in 2024. The effective tax rate increase was primarily due to charges to a valuation allowance on certain state tax credit carryforwards at Georgia Power, the recognition of certain state tax positions 

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    Table of Contents                                Index to Financial StatementsNOTES TO THE CONDENSED FINANCIAL STATEMENTS (Continued)(UNAUDITED)

from amended returns in the second quarter 2024 at Georgia Power, and a decrease in the flowback of certain excess deferred income taxes at Alabama Power, partially offset by increases in the flowback of excess state deferred income taxes and in the generation of advanced nuclear PTCs at Georgia Power.Alabama PowerAlabama Power's effective tax rate was 23.0% for the six months ended June 30, 2025 compared to 21.0% for the corresponding period in 2024. The effective tax rate increase was primarily due to a decrease in the flowback of certain excess deferred income taxes.Georgia PowerGeorgia Power's effective tax rate was 21.7% for the six months ended June 30, 2025 compared to 18.4% for the corresponding period in 2024. The effective tax rate increase was primarily due to charges to a valuation allowance on certain state tax credit carryforwards and the recognition of certain state tax positions from amended returns in the second quarter 2024, partially offset by increases in the flowback of excess state deferred income taxes and in the generation of advanced nuclear PTCs.Mississippi PowerMississippi Power's effective tax rate was 22.8% for the six months ended June 30, 2025 compared to 18.4% for the corresponding period in 2024. The effective tax rate increase was primarily due to a decrease in the flowback of certain excess deferred income taxes.Southern PowerSouthern Power's effective tax benefit rate was (7.0)% for the six months ended June 30, 2025 compared to (0.8)% for the corresponding period in 2024. The effective tax rate decrease was primarily due to a change in pre-tax earnings attributable to Southern Power, including the impact of accelerated depreciation related to wind repowering projects and changes in tax rates resulting from tax legislation enacted by the State of Georgia in the second quarters of 2024 and 2025. See Note (K