ADBE · 10-Q · 2026Q3 · Full report
U.S. Tax Law Changes
ADOBE INC. · 2026-09-22 · Importance 40 · Surprise 42 · In source text
The One Big Beautiful Bill Act, enacted in the United States on July 4, 2025, restores immediate expensing of domestic research and development costs. It also modifies certain international tax provisions effective for Adobe beginning in fiscal 2026 and fiscal 2027. Adobe anticipates that the changes will reduce effective rates for cash taxes paid in fiscal 2026 and beyond. The OECD’s 15% global minimum-tax framework currently has no material impact on Adobe’s effective tax rates or cash taxes paid.
Key facts
- On July 4, 2025, the One Big Beautiful Bill Act (2025 U.S. Tax Act) was enacted; we anticipate a reduction to our effective rates for cash taxes paid for fiscal 2026 and beyond due to restored immediate expensing of domestic R&D costs and modifications to certain international provisions. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| cash | positive | probable | — | On July 4, 2025, the One Big Beautiful Bill Act (2025 U.S. Tax Act) was enacted; we anticipate a reduction to our effective rates for cash… |
| net_income | positive | probable | — | On July 4, 2025, the One Big Beautiful Bill Act (2025 U.S. Tax Act) was enacted; we anticipate a reduction to our effective rates for cash… |