THE COUNCIL OF THE CITY OF PHILADELPHIA HEREBY ORDAINS:
SECTION 1. Chapter 19-2600 of The Philadelphia Code is hereby amended to read as follows:
CHAPTER 19-2600. BUSINESS INCOME AND RECEIPTS TAXES.
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§ 19-2604. Tax Rates, Credits, and Alternative Tax Computation.
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(11) Philadelphia Internship Tax Credit.
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(b) Philadelphia Internship Tax Credit. For tax years 2012 [and 2013]
through 2014
, a business may claim a credit against business income and receipts tax liability in an amount equal to the lesser of $600 or 40 percent of the compensation paid to an intern employed by the business, as follows:
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Explanation:
[Brackets] indicate matter deleted.
Italics
indicate new matter added.
End