City of Philadelphia - File #: 060090

• File #: 060090
• Version: 0
• Type: Bill
• Status: LAPSED
• File created: 2/9/2006
• In control: Committee of the Whole
• Title: Amending Section 19-2604 of The Philadelphia Code, relating to tax rates, credits and alternative tax computation for the business privilege tax, by reducing certain tax rates, under certain terms and conditions.
• Sponsors: Councilmember Nutter
• Indexes: BUSINESS PRIVILEGE TAX
• Code sections: 19-2604 - Tax Rates, Credits, and Alternative Computation

Date	Ver.	Action By	Action	Result	Tally
9/14/2006	0	CITY COUNCIL	WITHDRAWN
5/4/2006	0	Committee of the Whole	HEARING HELD
5/4/2006	0	Committee of the Whole	REPORTED FAVORABLY, RULE SUSPENSION REQUESTED
5/4/2006	0	CITY COUNCIL	ORDERED PLACED ON THIS DAY`S FIRST READING CALENDAR
5/4/2006	0	CITY COUNCIL	SUSPEND THE RULES OF THE COUNCIL	Pass
5/4/2006	0	CITY COUNCIL	ORDERED PLACED ON NEXT WEEK`S SECOND READING CALENDAR
4/27/2006	0	Committee of the Whole	HEARING HELD
4/27/2006	0	Committee of the Whole	RECESSED
4/19/2006	0	Committee of the Whole	HEARING HELD
4/19/2006	0	Committee of the Whole	RECESSED
4/6/2006	0	Committee of the Whole	HEARING HELD
4/6/2006	0	Committee of the Whole	RECESSED
4/5/2006	0	Committee of the Whole	HEARING HELD
4/5/2006	0	Committee of the Whole	RECESSED
4/4/2006	0	Committee of the Whole	HEARING HELD
4/4/2006	0	Committee of the Whole	RECESSED
3/29/2006	0	Committee of the Whole	HEARING HELD
3/29/2006	0	Committee of the Whole	RECESSED
3/28/2006	0	Committee of the Whole	HEARING HELD
3/28/2006	0	Committee of the Whole	RECESSED
3/22/2006	0	Committee of the Whole	HEARING HELD
3/22/2006	0	Committee of the Whole	RECESSED
3/21/2006	0	Committee of the Whole	HEARING HELD
3/21/2006	0	Committee of the Whole	RECESSED
3/15/2006	0	Committee of the Whole	HEARING HELD
3/15/2006	0	Committee of the Whole	RECESSED
3/14/2006	0	Committee of the Whole	HEARING HELD
3/14/2006	0	Committee of the Whole	RECESSED
3/8/2006	0	Committee of the Whole	RECESSED
3/8/2006	0	Committee of the Whole	HEARING HELD
3/7/2006	0	Committee of the Whole	HEARING HELD
3/7/2006	0	Committee of the Whole	RECESSED
3/1/2006	0	Committee of the Whole	HEARING HELD
3/1/2006	0	Committee of the Whole	RECESSED
2/27/2006	0	Committee of the Whole	HEARING NOTICES SENT
2/27/2006	0	Committee of the Whole	HEARING HELD
2/27/2006	0	Committee of the Whole	RECESSED
2/9/2006	0	CITY COUNCIL	Referred
2/9/2006	0	CITY COUNCIL	Introduced	Pass

Title

Amending Section 19-2604 of The Philadelphia Code, relating to tax rates, credits and alternative tax computation for the business privilege tax, by reducing certain tax rates, under certain terms and conditions.

Body

THE COUNCIL OF THE CITY OF PHILADELPHIA HEREBY ORDAINS:

SECTION 1.      Section 19-2604 of The Philadelphia Code is amended to read as follows:

§19-2604.            Tax Rates, Credits, and Alternative Tax Computation.

      (1)      Every business shall pay an annual tax on each dollar of annual receipts at the millage rate shown in the second column of the following chart (“Receipts rate in mills”), and an annual tax on net income at the percentage rate shown in the third column (“Net income rate %”), except that a regulated industry shall only pay an annual tax on each dollar of annual receipts at the millage rate shown in the second column, and in an amount not to exceed the percentage of net income shown in the third column:

Tax year(s)	Receipts rate in mills	Net income rate %
*     *     *	*     *     *	*     *     *
2005	1.90 mills	6.50%
2006	1.75 mills	[6.50] 6.48%
2007	1.625 mills	[6.50] 6.46%
2008 [and thereafter]	1.50 mills	[6.50] 6.44%
2009	1.5 mills	6.42%
2010 and thereafter	1.5 mills	6.40%

*            *            *

_____________________________________

Explanation:

[Brackets] indicate matter deleted.

Italics indicate new matter added.

2