BRK-B · 10-Q · 2026Q3 · Full report

State Income Tax Rate Changes

BERKSHIRE HATHAWAY INC · 2026-11-09 · Importance 38 · Surprise 48

BNSF’s income tax expense rose $288 million, or 24.1%, in the first nine months of 2026 compared with 2025. Berkshire attributed the increase primarily to higher pre-tax earnings and the impacts of changes in enacted state income tax rates. The filing does not quantify the portion attributable specifically to those rate changes.

Key facts

• BNSF income tax expense increased $74 million (16.0%) in the third quarter and $288 million (24.1%) in the first nine months of 2026, partly due to changes in enacted state income tax rates. source
• Duracell determined in Q3 2025 that certain U.S.-manufactured battery product components qualified for refundable advanced manufacturing production income tax credits beginning in tax year 2023, and recorded eligible credits for 2023, 2024 and the first nine months of 2025 in Q3 2025. source