CBRE · 10-Q · 2026Q3 · Full report

Income Tax Rate Changes

CBRE GROUP, INC. · 2026-10-22 · Importance 44 · Surprise 46

CBRE’s effective tax rate increased to 22.5% for the nine months ended September 30, 2026, from 19.7% in the prior-year period. Income tax provision rose $108 million to $311 million, primarily because of higher current-year earnings and a reduction in favorable permanent book tax differences. For the third quarter, the effective rate increased to 21.4% from 18.5%, and the provision increased to $131 million from $90 million. The nine-month 2026 effective rate exceeded the 21.0% U.S. federal statutory rate primarily because of U.S. state taxes and permanent book tax differences.

Key facts

• CBRE’s effective tax rate increased to 21.4% for the three months ended September 30, 2026, from 18.5% for the three months ended September 30, 2025. source
• CBRE’s effective tax rate increased to 22.5% for the first nine months of 2026 from 19.7% in the prior-year period. source
• CBRE stated that the 2026 impacts of the One Big Beautiful Bill Act were insignificant based on its current operations. source
• CBRE expects the impact of Pillar Two top-up taxes to be insignificant for 2026. source
• CBRE said the 2026 impacts of the One Big Beautiful Bill Act are insignificant based on its current operations. source
• CBRE’s effective tax rate increased to 21.4% for the three months ended September 30, 2026, from 18.5% for the comparable 2025 period. source
• CBRE’s effective tax rate increased to 22.5% for the nine months ended September 30, 2026, from 19.7% for the comparable 2025 period. source
• CBRE’s third-quarter income tax provision was $131 million, versus $90 million in the prior-year quarter; the $41 million increase primarily reflected higher earnings and fewer favorable permanent book tax differences. source