Exelon sees new IRA law resulting in $200M annually in taxes
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Exelon (NASDAQ:EXC) disclosed Wednesday it estimates the Inflation Reduction Act could result in an increase in cash taxes of ~$200M/year starting in 2023.
The company previously estimated the enactment of the IRA, which implements a new 15% corporate minimum tax based on net income, would raise its cash taxes by $300M/year.
Exelon (EXC) said it is continuing to assess the IRA's impacts on its financial statements and will update estimates based on guidance to be issued by the U.S. Treasury.
Exelon's (EXC) Constellation spinoff delivered real value, but the stock "now looks fairly valued at best," Gary Gambino writes in a bearish analysis published recently on Seeking Alpha.