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Southwest Airlines (LUV) Tax Rate (2016 - 2026)

Southwest Airlines has reported Tax Rate over the past 18 years, most recently at 20.35% for Q1 2026.

  • Quarterly Tax Rate fell 204.0% to 20.35% in Q1 2026 from the year-ago period, while the trailing twelve-month figure was 21.52% through Mar 2026, down 93.0% year-over-year, with the annual reading at 21.67% for FY2025, 57.0% down from the prior year.
  • Tax Rate was 20.35% for Q1 2026 at Southwest Airlines, down from 20.83% in the prior quarter.
  • Over five years, Tax Rate peaked at 26.64% in Q2 2022 and troughed at 11.89% in Q4 2023.
  • The 5-year median for Tax Rate is 22.42% (2025), against an average of 21.85%.
  • Biggest five-year swings in Tax Rate: surged 1112bps in 2022 and later tumbled -1092bps in 2023.
  • Tracing LUV's Tax Rate over 5 years: stood at 22.81% in 2022, then tumbled by -48bps to 11.89% in 2023, then surged by 74bps to 20.67% in 2024, then grew by 1bps to 20.83% in 2025, then decreased by -2bps to 20.35% in 2026.
  • According to Business Quant data, Tax Rate over the past three periods came in at 20.35%, 20.83%, and 20.59% for Q1 2026, Q4 2025, and Q3 2025 respectively.