READ AND PASSED

The enacted ordinance reduces the tax and fee burden on Philadelphia businesses. It eliminates the fee for a business privilege license and gives qualifying new businesses a zero percent business privilege tax rate for their first two years, along with waivers for certain licenses, registrations, and zoning fees. To receive and keep these benefits, new businesses must apply and meet employee requirements, including having three qualifying full-time employees after 12 months and six after 18 months.

Amending The Philadelphia Code, principally Title 19, entitled "Finance, Taxes and Collections," and such other provisions as may be appropriate, to reduce the tax burden on existing and new businesses; and to eliminate, waive, or reduce certain fees and permit charges, all for the purpose of generating growth in existing businesses, the birth of new businesses, and the creation of jobs; all under certain terms and conditions.