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Table of Contents Anthropic, PBC Notes to Consolidated Financial Statements (Continued) The components of the provision for income taxes were as follows (in millions): Current: Federal State Foreign Total current provision for income taxes Deferred: Federal State Foreign Total deferred provision for (benefit from) income taxes Year Ended December 31, 2024 2025 2023 $ — $ — $ — 2 2 — — — — — 4 4 — — (3) (3) Total provision for income taxes $ 2 $ 1 $ The following is a reconciliation of the statutory federal income tax rate to the Company’s effective tax rate: — — 17 17 — — 3 3 20 U.S. Federal statutory tax rate State and local income taxes, net of Federal income tax effect Foreign tax effects Research and development credits Changes in valuation allowances Mark to market Other Provision for income taxes Pre-tax book income U.S. Federal statutory tax rate State and local income taxes, net of Federal income tax effect(1) Foreign tax effects Tax credits Changes in valuation allowances Nontaxable or nondeductible items Mark to market Other nondeductible expenses (no item >5%) Changes in unrecognized tax benefits Other Provision for income taxes Year Ended December 31, 2023 2024 21.0 % 3.6 % (0.1)% 1.4 % (9.4)% (16.2)% (0.4)% (0.1)% 21.0 % 2.4 % — % 2.2 % (12.2)% (13.6)% 0.2 % — % Year Ended December 31, 2025 Amount Percent $ (41,945) (8,808) (47) 34 (404) 1,870 7,192 5 165 13 20 $ 21.0 % 0.1 % (0.1)% 1.0 % (4.5)% (17.1)% — % (0.4)% — % — % ______________ (1) State taxes in California made up the majority (greater than 50%) of the tax effect in this category. F-54
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