AAPL · 10-K · 2026A · Full report

Income Tax Rate Changes

Apple Inc. · 2026-11-03 · Importance null · Surprise 48

Apple’s fiscal 2026 income tax provision increased to $27.062 billion from $20.719 billion in 2025. The effective tax rate increased to 17.0% from 15.6%, a rise of 1.4 percentage points. The higher rate primarily reflected a higher effective tax rate on foreign earnings, U.S. Treasury foreign-currency-loss regulations issued in December 2024, and tax effects from foreign-currency revaluations in first-quarter 2025 related to the State Aid Decision; changes in valuation allowance partly offset these factors.

Key facts

• Apple’s effective tax rate was 17.0% in 2026, compared with 15.6% in 2025 and 24.1% in 2024. source
• Apple’s 2026 effective tax rate was higher than in 2025 primarily due to a higher effective tax rate on foreign earnings, U.S. Treasury foreign currency loss regulations issued in December 2024, and first-quarter 2025 foreign currency revaluations related to the State Aid Decision, partly offset by valuation allowance changes. source