READ AND PASSED

This enacted measure amended Philadelphia’s Business Privilege Tax rules for businesses subject to the tax. It excluded an increasing amount of taxable receipts beginning in 2014, changed definitions and tax rates for receipts and net income, and created a tax credit related to how businesses apportion income beginning in tax year 2013.

Amending Chapter 19-2600 of The Philadelphia Code, entitled "Business Privilege Taxes," by providing certain exclusions, modifying certain definitions, and revising certain tax rates, all under certain terms and conditions.