PASSED

This enacted bill revised Philadelphia’s business privilege tax rates on business receipts and net income. It set the receipts tax rate and optional alternative rates for manufacturers, wholesalers, and retailers to decrease over time, reaching zero in 2022 and later years, while setting the net income tax rate at 6 percent.

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