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File #: 040608    Version: Name:
Type: Bill Status: LAPSED
File created: 5/27/2004 In control: Committee of the Whole
On agenda: Final action: 7/1/2004
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; all under certain terms and conditions.
Sponsors: Councilmember Nutter, Councilmember Tasco, Councilmember DiCicco, Councilmember Kenney, Councilmember Goode, Councilmember Krajewski, Councilmember O'Neill, Councilmember Kelly, Councilmember Rizzo, Council President Verna
Code sections: 19-2604 - Tax Rates, Credits, and Alternative Computation
Attachments: 1. Bill No. 04060801, As Amended.pdf
Date Ver.Action ByActionResultTallyAction DetailsMeeting DetailsVideo
7/1/20041 MAYOR VETOED   Action details Meeting details Not available
7/1/20041 CITY COUNCIL RECONSIDERED   Action details Meeting details Not available
7/1/20041 CITY COUNCIL FAILEDPass11:6 Action details Meeting details Not available
6/21/20041 CITY COUNCIL READ   Action details Meeting details Not available
6/21/20041 CITY COUNCIL PASSEDPass11:6 Action details Meeting details Not available
6/10/20040 Committee of the Whole HEARING NOTICES SENT   Action details Meeting details Not available
6/10/20040 Committee of the Whole HEARING HELD   Action details Meeting details Not available
6/10/20040 Committee of the Whole HEARING HELD   Action details Meeting details Not available
6/10/20040 Committee of the Whole AMENDED   Action details Meeting details Not available
6/10/20041 Committee of the Whole REPORTED FAVORABLY, RULE SUSPENSION REQUESTED   Action details Meeting details Not available
6/10/20041 CITY COUNCIL ORDERED PLACED ON THIS DAY`S FIRST READING CALENDAR   Action details Meeting details Not available
6/10/20041 CITY COUNCIL SUSPEND THE RULES OF THE COUNCILPass  Action details Meeting details Not available
6/10/20041 CITY COUNCIL ORDERED PLACED ON NEXT WEEK`S SECOND READING CALENDAR   Action details Meeting details Not available
6/8/20040 Committee of the Whole HEARING HELD   Action details Meeting details Not available
6/8/20040 Committee of the Whole RECESSED   Action details Meeting details Not available
6/7/20040 Committee of the Whole HEARING NOTICES SENT   Action details Meeting details Not available
6/7/20040 Committee of the Whole RECESSED   Action details Meeting details Not available
6/7/20040 Committee of the Whole HEARING HELD   Action details Meeting details Not available
5/27/20040 CITY COUNCIL Referred   Action details Meeting details Not available
5/27/20040 CITY COUNCIL IntroducedPass  Action details Meeting details Not available
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; all 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 hereby 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 %
* * *
2002
2.40 mills
6.50%
2003
2.30 mills
6.50%
2004
2.10 mills
6.50%
2005
1.90 mills
6.50%
2006
1.75 mills
[6.50%] 6.10%
2007
1.625 mills
[6.50%] 5.65%
2008 [and thereafter]
1.50 mills
[6.50%] 5.20%
2009
1.30 mills
4.65%
2010
1.137 mills
4.07%
2011
0.974 mills
3.49%
2012
0.811 mills
2.91%
2013
0.648 mills
2.33%
2014
0.485 mills
1.75%
2015
0.322 mills
1.17%
2016
0.159 mills
0.59%
2017 and thereafter
0.0 mills
0.0%

(2) The annual tax to be paid by any person registered under the Act of December 5, 1972 (P.L. 1280, No. 284), known as the Pennsylvania Securities Act of 1972, shall in no event be less than the sum of: (a) the millage rate shown in the second column of the following chart ("Rate 1 in mills"), multiplied by the person's taxable receipts without regard to the exclusion from receipts as defined in paragraph (8) of the definition of "receipts" in §19-2601; plu...

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