Title
Amending Title 19 of The Philadelphia Code, entitled, "Finance, Taxes and Collections," by providing for an expanded tax credit for employment of veterans; all 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 INCOME AND RECEIPTS TAXES.
* * *
§ 19-2601. Definitions.
§ 19-2604. Tax Rates, Credits, and Alternative Tax Computation.
§ 19-2604. Tax Rates, Credits, and Alternative Tax Computation.
* * *
(13) Credit for Employment of Returning Veterans of the Armed Forces.
(a) Definitions. In this subsection, the following definitions shall apply:
(.1) Qualifying Employee. A Veteran who:
* * *
(C) Is hired between July 1, 2012, and [June 30, 2014] June 30, 2020, inclusive.
* * *
(.4) Veteran. A person who has received an honorable discharge from any branch of the United States Armed Forces or the United States Army National Guard, United States Army Reserve, United States Marine Corps Forces Reserve, United States Navy Reserve, United States Air National Guard, United States Air Force Reserve, or United States Coast Guard Reserve; who has served a minimum of six months in active full-time duty within ten years prior to their hiring; and who has met the requirements under the Vow to Hire Heroes Act of 2011 as part of the federal Work Opportunity Tax Credit (WOTC).
(b) Calculation of Tax Credits.
* * *
(.2) The tax credit provided for in subsection (.1), above, shall be in the amount of [$2,000] $5,000 multiplied by the percentage of the tax year that the Qualifying Full-time...
Click here for full text