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File #: 130487    Version: 0 Name:
Type: Bill Status: ENACTED
File created: 6/6/2013 In control: Committee on Finance
On agenda: Final action: 6/20/2013
Title: Amending Chapter 19-2600 of The Philadelphia Code, entitled "Business Income and Receipts Tax," by revising the alternative receipts tax computation, under certain terms and conditions.
Sponsors: Councilmember Quiñones Sánchez
Indexes: BUSINESS INCOME AND RECEIPTS TAXES
Code sections: 19-2600 - Business Income and Reciepts Tax
Attachments: 1. CertifiedCopy13048700.pdf
Date Ver.Action ByActionResultTallyAction DetailsMeeting DetailsVideo
6/25/20130 MAYOR SIGNED   Action details Meeting details Not available
6/20/20130 CITY COUNCIL READ AND PASSEDPass16:0 Action details Meeting details Not available
6/13/20130 CITY COUNCIL ORDERED PLACED ON THIS DAY`S FIRST READING CALENDAR   Action details Meeting details Not available
6/13/20130 CITY COUNCIL SUSPEND THE RULES OF THE COUNCILPass  Action details Meeting details Not available
6/13/20130 CITY COUNCIL READ AND ORDERED PLACED ON NEXT WEEK'S SECOND READING CALENDAR   Action details Meeting details Not available
6/12/20130 Committee on Finance HEARING NOTICES SENT   Action details Meeting details Not available
6/12/20130 Committee on Finance HEARING HELD   Action details Meeting details Not available
6/12/20130 Committee on Finance REPORTED FAVORABLY, RULE SUSPENSION REQUESTED   Action details Meeting details Not available
6/6/20130 CITY COUNCIL Introduced and ReferredPass  Action details Meeting details Not available
Title
Amending Chapter 19-2600 of The Philadelphia Code, entitled "Business Income and Receipts Tax," by revising the alternative receipts tax computation, under certain terms and conditions.

Body
WHEREAS, In Bill No. 110554 (approved November 14, 2011), Council repealed the gradual reduction to zero of the gross receipts tax rate, but inadvertently failed to repeal the gradual reduction to zero of the alternative receipts tax computation; and

WHEREAS, Council now wishes to correct this oversight; now, therefore

THE COUNCIL OF THE CITY OF PHILADELPHIA HEREBY ORDAINS:

SECTION 1. Chapter 19-2600 of The Philadelphia Code is amended to read as follows:

CHAPTER 19-2600. BUSINESS INCOME AND RECEIPTS TAXES

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

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(3) Alternative Receipts Tax Computation. A manufacturer (other than a regulated industry) shall at its option be permitted to compute the gross receipts tax on manufacturing sales at the rate shown in the following chart under the column entitled "Manufacturers", multiplied by receipts from manufacturing sales after deducting the applicable cost of goods sold as determined under the rules provided by the Federal Internal Revenue Code. A wholesaler (other than a regulated industry) shall at its option be permitted to compute the gross receipts tax on wholesale sales at the rate shown under the column entitled "Wholesalers", multiplied by receipts from wholesale sales after deducting the applicable cost of goods and the applicable cost of labor. A retailer (other than a regulated industry) shall at its option be permitted to compute the gross receipts tax on retail sales at the rate shown under the column entitled "Retailers", multiplied by receipts from retail sales after deducting the applicable cost of goods and the applicable cost of labor:

Tax year(s)
Manufacturer (%)
Wholesalers (%)
Retailers (%)
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2008 [through ...

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