MPC · 10-Q · 2026Q2 · Full report

Income Tax Rate Changes

Marathon Petroleum Corp · 2026-08-04 · Importance 44 · Surprise 46 · From source text

The income tax provision increased to $1.44 billion in the second quarter of 2026 from $268 million in the second quarter of 2025, while six-month tax expense increased to $1.63 billion from $305 million. The second-quarter 2026 effective tax burden remained below the U.S. statutory rate because of permanent tax benefits related to net income attributable to noncontrolling interests and cross-border tax impacts, partially offset by state taxes. The six-month 2026 tax provision was also below the statutory rate for the same reasons. Other income included approximately $75 million of clean fuel production tax credits in the first six months of 2026, including $32 million related to 2025 activity after proposed February 2026 guidance clarified 45Z qualification criteria.

Key facts

• Provision for income taxes was $1,627 million for the six months ended June 30, 2026 and $305 million for the six months ended June 30, 2025. source
• Provision for income taxes was $1,444 million for the three months ended June 30, 2026 and $268 million for the three months ended June 30, 2025. source

Impact estimates