FAILED

This lapsed bill would have reduced Philadelphia’s business privilege tax rates on business receipts and net income, with changes beginning in tax years after January 1, 2006. It also would have lowered alternative tax rates for manufacturers, wholesalers, and retailers, with the listed rates reaching zero for tax years beginning in 2017.

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.