v3.25.2
Income Taxes
 6 Months Ended
Jun. 30, 2025
Income Taxes [Line Items]  
Income Taxes INCOME TAXES
Income Tax Rates - Overall effective income tax rates for the three and six months ended June 30, which were computed by dividing income tax expense (benefit) by income before income taxes, were as follows. The effective income tax rates were different than the federal statutory rate primarily due to state income taxes, production tax credits, investment tax credits, amortization of excess deferred taxes and the effect of rate-making on property-related differences. Also impacting Alliant Energy’s and IPL’s effective income tax rates for the three and six months ended June 30, 2024 were the pre-tax non-cash charge of $60 million for IPL’s Lansing Generating Station discussed in Note 2 and the pre-tax non-cash charge of $20 million for the AROs allocated to IPL’s steam business discussed in Note 1(c). Alliant Energy’s, IPL’s and WPL’s effective income tax rates for the three and six months ended June 30, 2025 were also impacted by additional tax credits in 2025 from renewable generation and energy storage projects placed in service in 2024 and/or expected to be placed in service in 2025.
Alliant EnergyIPLWPL
Three MonthsSix Months Three MonthsSix Months Three MonthsSix Months
202520242025202420252024202520242025202420252024
Overall income tax rate(33%)(61%)(31%)(21%)(61%)220%(58%)(113%)(6%)4%(5%)5%

Deferred Tax Assets and Liabilities -
Carryforwards - At June 30, 2025, the carryforwards and expiration dates were estimated as follows (in millions):
Range of Expiration DatesAlliant EnergyIPLWPL
State net operating losses2025-2045$323$7$1
Federal tax credits2033-2045678437228
IPL [Member]  
Income Taxes [Line Items]  
Income Taxes INCOME TAXES
Income Tax Rates - Overall effective income tax rates for the three and six months ended June 30, which were computed by dividing income tax expense (benefit) by income before income taxes, were as follows. The effective income tax rates were different than the federal statutory rate primarily due to state income taxes, production tax credits, investment tax credits, amortization of excess deferred taxes and the effect of rate-making on property-related differences. Also impacting Alliant Energy’s and IPL’s effective income tax rates for the three and six months ended June 30, 2024 were the pre-tax non-cash charge of $60 million for IPL’s Lansing Generating Station discussed in Note 2 and the pre-tax non-cash charge of $20 million for the AROs allocated to IPL’s steam business discussed in Note 1(c). Alliant Energy’s, IPL’s and WPL’s effective income tax rates for the three and six months ended June 30, 2025 were also impacted by additional tax credits in 2025 from renewable generation and energy storage projects placed in service in 2024 and/or expected to be placed in service in 2025.
Alliant EnergyIPLWPL
Three MonthsSix Months Three MonthsSix Months Three MonthsSix Months
202520242025202420252024202520242025202420252024
Overall income tax rate(33%)(61%)(31%)(21%)(61%)220%(58%)(113%)(6%)4%(5%)5%

Deferred Tax Assets and Liabilities -
Carryforwards - At June 30, 2025, the carryforwards and expiration dates were estimated as follows (in millions):
Range of Expiration DatesAlliant EnergyIPLWPL
State net operating losses2025-2045$323$7$1
Federal tax credits2033-2045678437228
WPL [Member]  
Income Taxes [Line Items]  
Income Taxes INCOME TAXES
Income Tax Rates - Overall effective income tax rates for the three and six months ended June 30, which were computed by dividing income tax expense (benefit) by income before income taxes, were as follows. The effective income tax rates were different than the federal statutory rate primarily due to state income taxes, production tax credits, investment tax credits, amortization of excess deferred taxes and the effect of rate-making on property-related differences. Also impacting Alliant Energy’s and IPL’s effective income tax rates for the three and six months ended June 30, 2024 were the pre-tax non-cash charge of $60 million for IPL’s Lansing Generating Station discussed in Note 2 and the pre-tax non-cash charge of $20 million for the AROs allocated to IPL’s steam business discussed in Note 1(c). Alliant Energy’s, IPL’s and WPL’s effective income tax rates for the three and six months ended June 30, 2025 were also impacted by additional tax credits in 2025 from renewable generation and energy storage projects placed in service in 2024 and/or expected to be placed in service in 2025.
Alliant EnergyIPLWPL
Three MonthsSix Months Three MonthsSix Months Three MonthsSix Months
202520242025202420252024202520242025202420252024
Overall income tax rate(33%)(61%)(31%)(21%)(61%)220%(58%)(113%)(6%)4%(5%)5%

Deferred Tax Assets and Liabilities -
Carryforwards - At June 30, 2025, the carryforwards and expiration dates were estimated as follows (in millions):
Range of Expiration DatesAlliant EnergyIPLWPL
State net operating losses2025-2045$323$7$1
Federal tax credits2033-2045678437228