Title
Amending Chapter 19-2600 of The Philadelphia Code, entitled "Business Privilege
Taxes," by creating the "Philadelphia
Internship
Tax Credit," under certain terms and conditions.
Body
THE COUNCIL OF THE CITY OF PHILADELPHIA HEREBY ORDAINS:
SECTION 1. Title 19 of The Philadelphia Code is hereby amended to read as follows:
TITLE 19. FINANCE,
TAXES AND COLLECTIONS.
* * *
CHAPTER 19-2600. BUSINESS PRIVILEGE
TAXES.
* * *
ยง19-2604.
Tax Rates,
Credits, and Alternative
Tax Computation.
* * *
(10) Philadelphia
Internship
Tax Credit.
(a) Definitions. For purposes of this Section, the following definitions shall apply:
(i) Department. The Department of Revenue.
(ii) Educational institution. A secondary school or a post-secondary school.
(iii)
Intern. A person who is provided an
internship.
(iv)
Internship. A supervised work experience provided to a student enrolled in an educational institution.
(v) Post-secondary school. A vocational or technical institution, or an institution of higher learning (including community college).
(b) Philadelphia
Internship
Tax Credit. For
tax years 2012 and 2013, a business may claim a
credit against business privilege
tax liability in an amount equal to the lesser of $600 or 40 percent of the compensation paid to an
intern employed by the business, as follows:
(i) No more than 750
internships and 100 businesses per calendar year shall be eligible for the
tax credit, to be determined on a "first come-first served" basis;
(ii) The
intern must be paid a minimum of $8.00 per hour.
(c) Limitation on availability of the
tax credit. To ensure that regular employees are not displaced by
interns:
(i) A business shall not be entitled to the
tax credit if, at the end of the
tax year with respect to which the business claims this
tax credit, the business has fewer paid employees (other than
interns) in the office or plant...
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