Target (TGT) Tax Rate (2009 - 2026)

Target's Tax Rate history runs 18 years deep, the most recent figure standing at 24.39% for Q2 2026.

• Quarterly Tax Rate fell 64.0% year-over-year to 24.39% in Q2 2026, while the trailing twelve-month figure through May 2026 was 21.75% (down 109.0% YoY) and the FY2026 annual result came in at 22.12%, down 11.0% from the prior year.
• Tax Rate was 24.39% for Q2 2026 at Target, up from 19.61% in the prior quarter.
• Across five years, Tax Rate topped out at 25.04% in Q2 2025 and bottomed at 15.67% in Q3 2022.
• A 5-year average of 21.36% and a median of 21.7% in 2022 frame the typical range for Tax Rate.
• Annual changes were most pronounced in 2022 — Tax Rate slumped 767 bps — and 2023, when it soared 644 bps.
• Target's Tax Rate stood at 21.67% in 2022, then dropped by 1 bps to 21.38% in 2023, then advanced by 2 bps to 21.72% in 2024, then dropped by 9 bps to 19.79% in 2025, then advanced by 23 bps to 24.39% in 2026.
• Business Quant data shows TGT's Tax Rate at 24.39% in Q2 2026, 19.61% in Q1 2026, and 19.79% in Q4 2025.