Skip to main content
Back to search resultsBill 180607

Amending Chapter 19-2600 of The Philadelphia Code, entitled "Business Income and Receipts Taxes," by revising certain tax rates, under certain terms and conditions.

View file history View official file on Legistar →

File details

Status
LAPSED
Type
Bill
Introduced
June 7, 2018
Sponsors
CGCouncilmember Gym

Full Bill

THE COUNCIL OF THE CITY OF PHILADELPHIA HEREBY ORDAINS:

SECTION 1. Chapter 19-2600 of The Philadelphia Code is amended to read as follows:

CHAPTER 19-2600. BUSINESS INCOME AND RECEIPTS TAXES.

* * *

§19-2604. Tax Rates, Credits, and Alternative Tax Computation.

(1)

Every business shall pay an annual tax on each dollar of annual receipts at the millage rate shown in the second column of the following chart (“Receipts rate in mills”), and an annual tax on net income at the percentage rate shown in the third column (“Net income rate %“), except that a regulated industry shall only pay an annual tax on each dollar of annual receipts at the millage rate shown in the second column, and in an amount not to exceed the percentage of net income shown in the third column:

Tax year(s)

Receipts rate in mills

Net income rate %

***

***

***

2008 through 2013

1.415 mills

6.45%

2014

1.415 mills

6.43%

2015

1.415 mills

6.41%

2016

1.415 mills

6.39%

2017

1.415 mills

6.35%

2018

and thereafter

1.415 mills

6.30%

[2019

1.415 mills

6.25%]

[2020

1.415 mills

6.20%]

[2021

1.415 mills

6.15%]

[2022

1.415 mills

6.10%]

[2023 and thereafter

1.415 mills

6.00%]

* * *

___________________________________

Explanation:

[Brackets] indicate matter deleted.

Italics

indicate new matter added.

End

Timeline

File history

A file can move through several public steps, including introduction, hearings, amendments, votes and final action. This timeline puts those events in date order, groups routine entries from the same day, and attaches published member votes to the action they record.