INCY · 10-Q · 2026Q3 · Full report

U.S. Tax Law Changes

INCYTE CORP · 2026-10-29 · Importance 40 · Surprise 42

The One Big Beautiful Bill Act was enacted in July 2025 and modified key provisions of the 2017 Tax Cuts and Jobs Act. The change permitting expensing of domestic research costs materially reduced Incyte’s U.S. tax liabilities in 2025 and 2026.

Key facts

• The One Big Beautiful Bill Act, enacted in July 2025, modified key provisions of the Tax Cuts and Jobs Act of 2017; the change related to expensing domestic research costs materially reduced Incyte's U.S. tax liabilities in 2025 and 2026. source