Upwork (UPWK) Tax Rate (2017 - 2026)

Upwork's Tax Rate history runs 10 years deep, the most recent figure standing at 16.44% for Q1 2026.

• In Q1 2026, Tax Rate rose 27.0% year-over-year to 16.44%; the TTM figure through Mar 2026 stood at 25.11% (up 12813.0% YoY), while the FY2025 annual figure was 24.64%, up 16305.0% from the prior year.
• Tax Rate was 16.44% for Q1 2026 at Upwork, down from 54.08% in the prior quarter.
• In the past five years, Tax Rate ranged from a high of 54.08% in Q4 2025 to a low of 700.89% in Q4 2024.
• Historically, Tax Rate has averaged 38.61% across 5 years, with a median of 4.43% in 2023.
• The sharpest annual moves came in 2024 and 2025: Tax Rate plunged 69104 bps in 2024, then jumped 75497 bps in 2025.
• A 5-year view of Tax Rate shows it stood at 2.74% in 2022, then slumped by 259 bps to 9.84% in 2023, then tumbled by 7020 bps to 700.89% in 2024, then surged by 108 bps to 54.08% in 2025, then slumped by 70 bps to 16.44% in 2026.
• The last three Tax Rate figures came in at 16.44% (Q1 2026), 54.08% (Q4 2025), and 17.66% (Q3 2025), per Business Quant data.