Company: CNLHP
Filing Date: 2025-02-14
Form Type: 10-K
Source: 0000072741-25-000007
Chunk: 355

Company: CONNECTICUT LIGHT & POWER CO
Filing Date: 2025-02-14
Form: 10-K
Item: Item 8
Chunk 355
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9)(1.0)(5.6)(8.8)(1.0)(3.7)(4.2)0.9 Investment Tax Credit Amortization— (1.7)— — (1.7)— (0.5)(1.7)— State Income Taxes, Net of Federal Impact(2.8)49.4 16.7 (10.7)42.5 14.1 (6.6)40.3 12.5 Tax Asset Valuation  Allowance/Reserve Adjustments50.8 — — 51.3 — — 44.7 — — Tax Deficiency/(Excess Stock Benefit)0.8 0.8 0.3 0.2 0.2 0.1 (0.7)(0.8)(0.3)EDIT Amortization(9.2)(20.0)(6.5)(10.5)(28.4)(6.8)(9.2)(29.2)(7.7)Other, Net6.0 (0.7)0.8 1.3 2.7 (0.9)(0.7)2.8 (0.9)Income Tax Expense$194.5 $190.6 $70.2 $170.9 $153.0 $59.0 $171.2 $140.0 $51.3 Effective Tax Rate27.5 %23.0 %24.6 %24.8 %21.9 %23.2 %24.3 %22.1 %23.0 %Eversource, CL&P, NSTAR Electric and PSNH file a consolidated federal income tax return and unitary, combined and separate state income tax returns.  These entities are also parties to a tax allocation agreement under which taxable subsidiaries do not pay any more taxes than they would have otherwise paid had they filed a separate company tax return, and subsidiaries generating tax losses, if any, are paid for their losses when utilized.

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Deferred tax assets and liabilities are recognized for the future tax effects of temporary differences between the carrying amounts and the tax basis of assets and liabilities.  The tax effect of temporary differences is accounted for in accordance with the rate-making treatment of the applicable regulatory commissions and relevant