Company: AILIM
Filing Date: 2025-02-18
Form Type: 10-K
Source: 0001002910-25-000055
Chunk: 109

Company: Ameren Illinois Co
Filing Date: 2025-02-18
Form: 10-K
Item: Item 8
Chunk 109
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 electric generation industry are reduced by at least 75% from the annual 2022 emission rate or at the beginning of 2033, whichever is later. The law allows for transferability to an unrelated party for cash of up to 100% of certain tax credits generated after 2022. In addition, the law imposes a 15% minimum tax on adjusted financial statement income, as defined in the law, for corporations whose average annual adjusted financial statement income exceeds $1 billion for three consecutive preceding tax years effective for tax years beginning after December 31, 2022. Once a corporation exceeds this three-year average annual adjusted financial statement income threshold, it will be subject to the minimum tax for all future tax years. Additional regulations, interpretations, amendments, or technical corrections to or in connection with the IRA have been and are expected to be issued by the IRS or United States Department of Treasury, which may impact the timing of when the 15% minimum tax becomes applicable for Ameren.

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IRS Natural Gas Repairs and Maintenance GuidanceIn April 2023, the IRS issued guidance providing a safe harbor method of accounting for the capitalization or deduction of certain expenditures to maintain, repair, replace, or improve natural gas distribution and transmission property. Ameren adopted this guidance for the 2024 tax year and, as a result, during December 2024, Ameren, Ameren Missouri, and Ameren Illinois recorded increases to their “plant-related” deferred tax liabilities of $123 million, $12 million, and $111 million, respectively.The following table presents the principal reasons for the difference between the effective income tax rate and the federal statutory corporate income tax rate for the years ended December 31, 2024, 2023, and 2022:Ameren MissouriAmeren IllinoisAmeren2024Federal statutory corporate income tax rate21 %21 %21 %Increases (decreases) from:Amortization of excess deferred income taxes(a)(17)(4)(9)Amortization of deferred investment tax credit(1)— — Renewable and other tax credits(b)(24)— (9)State tax3 7 5 Depreciation differences— — (1)Effective income tax rate(18)%24 %7 %2023Federal statutory corporate income tax rate21 %21 %21 %Increases (decreases) from:Amortization of