PASSED

Enacted legislation amended Philadelphia’s business privilege tax rules by reducing certain tax rates and changing the rates used for alternative tax calculations. It affects businesses subject to the tax, including certain securities businesses, manufacturers, wholesalers, and retailers, and maintains a credit against net profits taxes based on net income tax liability.

Amending Section 19-2604 of The Philadelphia Code, relating to tax rates, credits and alternative tax computation for the business privilege tax, by reducing certain tax rates; all under certain terms and conditions.