Target (TGT) Tax Rate (2009 - 2026)

Target has reported Tax Rate for 18 years, with the latest figure at 24.39% in Q2 2026.

• For the quarter ending Q2 2026, Tax Rate fell 64.0% year-over-year to 24.39%; the trailing twelve-month figure through May 2026 stood at 21.75% (down 109.0% YoY), and the FY2026 full-year result was 22.12%, down 11.0% from the prior year.
• Tax Rate for Q2 2026 stood at 24.39%, up from 19.61% in the prior quarter.
• The five-year high for Tax Rate was 25.04% in Q2 2025, with the low at 15.67% in Q3 2022.
• Historically, Tax Rate has averaged 21.34% across 5 years, with a median of 21.7% in 2022.
• Annual changes were most pronounced in 2022 — Tax Rate tumbled 767 bps — and 2024, when it surged 657 bps.
• Target's Tax Rate stood at 21.67% in 2022, then decreased by 1 bps to 21.38% in 2023, then rose by 2 bps to 21.72% in 2024, then decreased by 9 bps to 19.79% in 2025, then rose by 23 bps to 24.39% in 2026.
• The last three Tax Rate figures came in at 24.39% (Q2 2026), 19.61% (Q1 2026), and 19.79% (Q4 2025), per Business Quant data.