READ AND PASSED

This enacted ordinance expands Philadelphia tax relief for new businesses certified as sustainable. It sets both the business income and receipts tax and the net profits tax at zero for the first three years of eligibility, effective for tax years beginning January 1, 2018, provided the business meets employee requirements; it also makes technical corrections and allows possible tax waivers or reductions in certain circumstances beyond the business’s control.

Amending Chapter 19-4200 of The Philadelphia Code, entitled "New Sustainable Businesses," to expand the tax relief offered to such businesses, and to make technical corrections, all under certain terms and conditions.