Amending Chapter 19-1500 of The Philadelphia Code, entitled "Wage and Net Profits Tax," by revising certain tax rates, under certain terms and conditions.

THE COUNCIL OF THE CITY OF PHILADELPHIA HEREBY ORDAINS:

SECTION 1. Chapter 19-1500 of The Philadelphia Code is hereby amended as follows:

CHAPTER 19-1500. WAGE AND NET PROFITS TAX

§ 19-1502. Imposition of Tax.

(a) Residents. An annual tax on salaries, wages, commissions and other compensation earned by residents of Philadelphia is imposed for general revenue purposes for the following periods at the following rates:

* * *

July 1, 2019 [, and thereafter]

through June 30, 2022

2.3712%

July 1, 2022 through June 30, 2023

2.3226%

July 1, 2023 through June 30, 2024

3.7740%

July 1, 2024 through June 30, 2025

3.7254%

July 1, 2025 through June 30, 2026

3.6768%

July 1, 2026 through June 30, 2027

3.6282%

July 1, 2027 through June 30, 2028

3.5796%

July 1, 2028 through June 30, 2029

3.5310%

July 1, 2029 through June 30, 2030

3.4824%

July 1, 2030 through June 30, 2031

3.4338%

July 1, 2031 through June 30, 2032

3.3852%

July 1, 2032 through June 30, 2033

3.3366%

July 1, 2033 through June 30, 2034

3.2880%

July 1, 2034 through June 30, 2035

3.2394%

July 1, 2035 through June 30, 2036

3.1908%

July 1, 2036 through June 30, 2037

3.1422%

July 1, 2037 through June 30, 2038

3.0936%

July 1, 2038 through June 30, 2039

3.0450%

July 1, 2039 through June 30, 2040

2.9964%

July 1, 2040 through June 30, 2041

2.9478%

July 1, 2041 through June 30, 2042

2.9000%

(b) Non-Residents. An annual tax on salaries, wages, commissions and other compensation earned by non-residents of Philadelphia for work done or services performed or rendered in Philadelphia is imposed for general revenue purposes for the following periods at the following rates:

* * *

July 1, 2020 through [June 30, 2021]

June 30, 2022

3.5019%

[July 1, 2021, and thereafter]

[3.4481%]

July 1, 2022 through June 30, 2023

3.4668%

July 1, 2023 through June 30, 2024

3.4317%

July 1, 2024 through June 30, 2025

3.3966%

July 1, 2025 through June 30, 2026

3.3615%

July 1, 2026 through June 30, 2027

3.3264%

July 1, 2027 through June 30, 2028

3.2913%

July 1, 2028 through June 30, 2029

3.2562%

July 1, 2029 through June 30, 2030

3.2211%

July 1, 2030 through June 30, 2031

3.1860%

July 1, 2031 through June 30, 2032

3.1510%

July 1, 2032 through June 30, 2033

3.1159%

July 1, 2033 through June 30, 2034

3.0808%

July 1, 2034 through June 30, 2035

3.0457%

July 1, 2035 through June 30, 2036

3.0106%

July 1, 2036 through June 30, 2037

2.9755%

July 1, 2037 through June 30, 2038

2.9404%

July 1, 2038 through June 30, 2039

2.9053%

July 1, 2039 through June 30, 2040

2.8702%

July 1, 2040 through June 30, 2041

2.8351%

July 1, 2041 through June 30, 2042

2.8000%

(2) Tax On Net Profits Earned In Businesses, Professions Or Other Activities.

(a) Residents. An annual tax on the net profits earned in businesses, professions or other activities conducted by residents of Philadelphia is imposed for general revenue purposes for the following periods at the following rates:

* * *

January 1, 2019 [, and thereafter]

through December 31, 2021

2.3712%

January 1, 2022 through December 31, 2022

2.3226%

January 1, 2023 through December 31, 2023

3.7740%

January 1, 2024 through December 31, 2024

3.7254%

January 1, 2025 through December 31, 2025

3.6768%

January 1, 2026 through December 31, 2026

3.6282%

January 1, 2027 through December 31, 2027

3.5796%

January 1, 2028 through December 31, 2028

3.5310%

January 1, 2029 through December 31, 2029

3.4824%

January 1, 2030 through December 31, 2030

3.4338%

January 1, 2031 through December 31, 2031

3.3852%

January 1, 2032 through December 31, 2032

3.3366%

January 1, 2033 through December 31, 2033

3.2880%

January 1, 2034 through December 31, 2034

3.2394%

January 1, 2035 through December 31, 2035

3.1908%

January 1, 2036 through December 31, 2036

3.1422%

January 1, 2037 through December 31, 2037

3.0936%

January 1, 2038 through December 31, 2038

3.0450%

January 1, 2039 through December 31, 2039

2.9964%

January 1, 2040 through December 31, 2040

2.9478%

January 1, 2041 through December 31, 2041

2.9000%

(b) Non-Residents. An annual tax on the net profits earned in businesses, professions or other activities conducted in Philadelphia by non-residents is imposed for general revenue purposes for the following periods at the following rates:

* * *

January 1, [2021, and thereafter]

2021 through December 31, 2021

[3.4481%]

3.5019%

January 1, 2022 through December 31, 2022

3.4668%

January 1, 2023 through December 31, 2023

3.4317%

January 1, 2024 through December 31, 2024

3.3966%

January 1, 2025 through December 31, 2025

3.3615%

January 1, 2026 through December 31, 2026

3.3264%

January 1, 2027 through December 31, 2027

3.2913%

January 1, 2028 through December 31, 2028

3.2562%

January 1, 2029 through December 31, 2029

3.2211%

January 1, 2030 through December 31, 2030

3.1860%

January 1, 2031 through December 31, 2031

3.1510%

January 1, 2032 through December 31, 2032

3.1159%

January 1, 2033 through December 31, 2033

3.0808%

January 1, 2034 through December 31, 2034

3.0457%

January 1, 2035 through December 31, 2035

3.0106%

January 1, 2036 through December 31, 2036

2.9755%

January 1, 2037 through December 31, 2037

2.9404%

January 1, 2038 through December 31, 2038

2.9053%

January 1, 2039 through December 31, 2039

2.8702%

January 1, 2040 through December 31, 2040

2.8351%

January 1, 2041 through December 31, 2041

2.8000%

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Explanation:

[Brackets] indicate matter deleted.

Italics

indicate new matter added.

End