MKTX · 10-Q · 2026Q2 · Full report

Income Tax Rate Changes

MARKETAXESS HOLDINGS INC · 2026-08-07 · Importance 77 · Surprise 82 · In source text

The second-quarter income tax provision decreased 18.3% to $21.4 million from $26.2 million, and the effective tax rate declined to 23.9% from 26.9%. The six-month tax provision decreased 56.0% to $47.2 million from $107.3 million. The lower second-quarter tax rate primarily reflected a benefit from remeasuring reserves for uncertain tax positions related to prior periods. The prior-year quarter included accruals for unrecognized tax benefits, creating a $4.8 million year-over-year reduction in the current-quarter tax provision.

Key facts

• Provision for income taxes for the six months ended June 30, 2026: $47,217 (thousands), a decrease of $60,108 (56.0%) versus $107,325 for the prior year period. source
• Provision for income taxes for the three months ended June 30, 2026: $21,439 (thousands), a decrease of $4,797 (18.3%) versus $26,236 for the prior year period. source
• Six months ended June 30, 2026 Effective tax rate: 24.4% source
• Six months ended June 30, 2026 Provision for income taxes: $47,217 (thousands) source
• Six months ended June 30, 2025 Provision for income taxes: $107,325 (thousands) source
• Six months ended June 30, 2025 Effective tax rate: 55.4% source
• Decrease in effective tax rate for six months ended June 30, 2026 mainly due to the reserve for unrecognized tax benefits established during first quarter of 2025 source
• Effective tax rate for the three months ended June 30, 2026: 23.9% versus 26.9% for the three months ended June 30, 2025. source

Impact estimates