PASSED

This lapsed bill would have amended Philadelphia’s business privilege tax by reducing certain tax rates on business receipts and net income. It also proposed lower rates under the alternative tax calculation for manufacturers, wholesalers, and retailers, beginning with tax years on or after January 1, 2006.

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.