Taxes (Tables)

6 Months Ended

Jun. 30, 2018

The consolidated income tax provision differs from the amount computed by applying the statutory federal income tax rate to income before income taxes, as follows:

	MGE Energy		MGE
Three Months Ended June 30,	2018	2017	2018	2017
Statutory federal income tax rate	21.0 %	35.0 %	21.0 %	35.0 %
State income taxes, net of federal benefit	6.3 %	5.2 %	6.2 %	5.1 %
Amortized investment tax credits	(0.1)%	(0.3)%	(0.1)%	(0.4)%
Credit for electricity from wind energy	(0.4)%	(1.5)%	(0.4)%	(1.6)%
Domestic manufacturing deduction	-%	(1.9)%	-%	(2.0)%
AFUDC equity, net	(1.1)%	(0.3)%	(1.1)%	(0.3)%
Amortization of utility excess deferred tax - tax reform^(a)	(1.9)%	-%	(1.9)%	(0.1)%
Other, net, individually insignificant	0.3 %	(0.2)%	0.2 %	(0.2)%
Effective income tax rate	24.1 %	36.0 %	23.9 %	35.5 %

	MGE Energy		MGE
Six Months Ended June 30,	2018	2017	2018	2017
Statutory federal income tax rate	21.0 %	35.0 %	21.0 %	35.0 %
State income taxes, net of federal benefit	6.3 %	5.2 %	6.2 %	5.1 %
Amortized investment tax credits	(0.1)%	(0.3)%	(0.1)%	(0.4)%
Credit for electricity from wind energy	(0.3)%	(1.4)%	(0.3)%	(1.6)%
Domestic manufacturing deduction	-%	(1.7)%	-%	(1.8)%
AFUDC equity, net	(0.9)%	(0.3)%	(1.0)%	(0.3)%
Amortization of utility excess deferred tax - tax reform^(a)	(1.9)%	-%	(2.1)%	-%
Other, net, individually insignificant	-%	(0.1)%	-%	(0.1)%
Effective income tax rate	24.1 %	36.4 %	23.7 %	35.9 %

(a) Included are impacts of the Tax Act for the regulated utility for excess deferred taxes recognized using a normalization method of accounting.