Title
Amending Chapter 19-2600 of The Philadelphia Code, entitled "Business Privilege Taxes," by eliminating the prepaid structure of the tax, by clarifying the period to be used in computation of the tax, by requiring the payment of an estimated payment, by ensuring that gains from the termination of the business are subject to tax, by clarifying the treatment of calendar and fiscal taxpayers and by amending definitions of the tax, under certain terms and conditions.
Body
THE COUNCIL OF THE CITY OF PHILADELPHIA HEREBY ORDAINS:
SECTION 1. Chapter 19-2600 of The Philadelphia Code is hereby amended to read as follows:
CHAPTER 19-2600. BUSINESS PRIVILEGE TAXES.
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§19-2601. Definitions.
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Business. Carrying on or exercising for gain or profit within a city of the first class, any trade, business, including financial business as hereinafter defined, profession, vocation or commercial activity, including the partial or complete liquidation or sale of business assets, or making sales to persons within such city of the first class. "Business" shall not include the following:
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Tax Measurement Year. The fiscal or calendar year by which the person engaging in business keeps its books and records for federal tax purposes.
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§19-2606. Returns.
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(2) Time and manner of filing. Every person engaged in business is required to file a return on or before the fifteenth day of April of the year following each tax year it is in business. All returns shall be filed [at such time and] in such manner and form as is provided by the Department of Revenue.
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§19-2609. Period used in computation of tax.
(1) General Rule. Every period in which a person engages in business shall be subject to the tax hereby imposed.
(a) Receipts.-Every person subject to the payment of the tax hereby imposed shall compute its taxable receipts using the receipts received for the tax measurement year ending in the tax year...
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