Boeing to Reap Tax Benefits for Years With $5 Billion Max Charge

Boeing Co. took an almost $5 billion hit to its bottom line in the second quarter over the grounding and delayed deliveries of its 737 Max planes—but tax benefits created by the charge will help the company for years to come.

Thanks to a revision to the tax code made by the 2017 tax overhaul, Boeing can carry losses from the 737 Max debacle forward to offset future taxes indefinitely, tax professionals said. Before the law’s changes to tax code Section 172, it would have faced a 20-year deadline.

While it reported the charge on its ...