READ AND PASSED

The enacted ordinance provides qualifying new businesses with a zero percent rate for certain business taxes and the net profits tax during their first two years. It also waives fees for specified city licenses, registrations, and zoning and planning services, while those businesses must still obtain any required licenses and meet other requirements.

Amending Chapter 19-3801 of The Philadelphia Code, entitled "Finance, Taxes and Collections," and such other provisions as may be appropriate, to reduce the net profits tax burden on certain existing and new businesses, 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.