Nasdaq (NDAQ) Tax Rate (2009 - 2026)

Nasdaq has disclosed Tax Rate across 18 years of filings, most recently posting 23.34% for Q1 2026.

• Tax Rate for Q1 2026 came in at 23.34%, up 428.0% year-over-year; the trailing twelve-month figure through Mar 2026 was 18.08% (down 329.0% YoY), and the FY2025 annual result was 16.69%, down 636.0% from the prior year.
• Tax Rate came in at 23.34% for Q1 2026 at Nasdaq, up from 10.69% in the prior quarter.
• In the past five years, Tax Rate ranged from a high of 34.9% in Q2 2024 to a low of 10.69% in Q4 2025.
• The 5-year median for Tax Rate is 23.04% (2022), against an average of 22.29%.
• Across the five-year window, Tax Rate jumped 1413 bps in 2024 and plunged 1738 bps in 2025, its largest moves.
• Nasdaq's Tax Rate stood at 25.47% in 2022, then grew by 16 bps to 29.5% in 2023, then plunged by 35 bps to 19.13% in 2024, then tumbled by 44 bps to 10.69% in 2025, then jumped by 118 bps to 23.34% in 2026.
• The last three Tax Rate figures came in at 23.34% (Q1 2026), 10.69% (Q4 2025), and 20.04% (Q3 2025), per Business Quant data.