READ AND PASSED

This enacted amendment corrects the tax year listed in an earlier law changing Philadelphia’s Business Income and Receipts Tax (BIRT). It applies the reduced 5.99% net-income tax rate to tax year 2022, so the reduction applies to BIRT taxes paid during the FY2023 budget cycle, rather than beginning with tax year 2023.

Amending Bill No. 210284, entitled "An Ordinance Amending Chapter 19-2600 of The Philadelphia Code, entitled 'Business Income and Receipts Taxes,' by revising certain tax rates, under certain terms and conditions," to fix a mistake in identifying the tax year to which a tax reduction applies, so that the tax reduction applies in FY2023, all under certain conditions.