Exelon estimates it will pay $200 million more annually under new federal tax law
The federal tax law signed yesterday by President Joe Biden will cost Exelon an estimated $200 million more annually beginning next year.
Chicago-based Exelon, parent of ComEd, disclosed the tax effect this morning in a terse Securities & Exchange Commission filing. Like more than 100 other U.S. corporations that make at least $1 billion in yearly profits, Exelon's current tax rate is below the 15% minimum of earnings that the new law requires companies to pay.
Exelon said in the filing that it would "update estimates based on guidance to be issued by the U.S. Treasury in the future."
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