Preheat the oven to 375°F (190°C).
In a small bowl, combine chili powder, ground cumin, smoked paprika, garlic powder, onion powder, cayenne pepper, salt, and black pepper.
Rub the chicken breasts with olive oil and then evenly coat them with the spice mixture.
Place the seasoned chicken breasts in a baking dish and pour chicken broth around them.
Cover the dish with aluminum foil and bake for 20 to 25 minutes, or until the chicken is cooked through and reaches an internal temperature of 165°F (74°C).
Remove the chicken from the oven and let it rest for 5 minutes.
Shred the chicken using two forks and mix it with the juices in the baking dish to keep it moist.
Let the shredded chicken cool completely if preparing ahead, then store in an airtight container in the refrigerator for up to 3 days.
When ready to serve, warm the corn tortillas in a dry skillet over medium heat for about 30 seconds on each side or until pliable.
Assemble the tacos by dividing the shredded chicken evenly among the tortillas.
Top each taco with shredded lettuce, diced tomatoes, diced red onion, chopped cilantro, shredded cheddar cheese, and a dollop of sour cream.
Serve with lime wedges for squeezing over the tacos.