Meta Platforms took Q3 charge of $15.93B for alternative minimum tax

The company said, “We expect a significant reduction in our U.S. federal cash tax payments for the remainder of 2025 and future years due to the implementation of the One Big Beautiful Bill Act. However, the implementation also led to the recognition of a valuation allowance against our U.S. federal deferred tax assets, reflecting the impact of the U.S. Corporate Alternative Minimum Tax. As a result, the third quarter 2025 provision for income taxes includes a one-time, non-cash income tax charge of $15.93 billion. Excluding this one-time tax charge, our third quarter 2025: Effective tax rate would have decreased by 73 percentage points to 14%, compared to the reported effective tax rate of 87%. Net income would have increased by $15.93 billion to $18.64 billion, compared to the reported net income of $2.71 billion. Diluted EPS would have increased by $6.20 to $7.25, compared to the reported diluted EPS of $1.05.”