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File #: 180077-A    Version: Name:
Type: Bill Status: ENACTED
File created: 2/1/2018 In control: Committee on Finance
On agenda: Final action: 9/20/2018
Title: Amending Chapter 19-2600 of The Philadelphia Code, entitled 'Business Privilege Taxes,' by eliminating for new businesses the requirement to make an estimated payment when filing a return for their first tax year of business operations and allowing the estimated payment in succeeding years to be made in quarterly installments, all under certain terms and conditions.
Sponsors: Councilmember Taubenberger
Indexes: BUSINESS PRIVILEGE TAX
Code sections: 19-2600 - Business Privilege Tax, 19-2601 - Definitions
Attachments: 1. CertifiedCopy180077-A02.pdf
Date Ver.Action ByActionResultAction DetailsVideo
10/3/20182 MAYOR SIGNED  Action details Not available
9/20/20182 CITY COUNCIL READ AND PASSEDPass Action details Not available
9/13/20181 CITY COUNCIL READ  Action details Not available
9/13/20181 CITY COUNCIL RECONSIDEREDPass Action details Not available
9/13/20182 CITY COUNCIL ORDERED PLACED ON FINAL PASSAGE CALENDAR FOR NEXT MEETING.  Action details Not available
9/13/20182 CITY COUNCIL AMENDED  Action details Not available
6/14/20181 CITY COUNCIL READ AND PASSEDPass Action details Not available
6/7/20181 CITY COUNCIL ORDERED PLACED ON THIS DAY`S FIRST READING CALENDAR  Action details Not available
6/7/20181 CITY COUNCIL SUSPEND THE RULES OF THE COUNCILPass Action details Not available
6/7/20181 CITY COUNCIL READ AND ORDERED PLACED ON NEXT WEEK'S SECOND READING CALENDAR  Action details Not available
6/6/20180 Committee on Finance HEARING NOTICES SENT  Action details Not available
6/6/20180 Committee on Finance HEARING HELD  Action details Not available
6/6/20180 Committee on Finance AMENDED  Action details Not available
6/6/20181 Committee on Finance REPORTED FAVORABLY, RULE SUSPENSION REQUESTED  Action details Not available
2/1/20180 CITY COUNCIL Introduced and ReferredPass Action details Not available

Title

Amending Chapter 19-2600 of The Philadelphia Code, entitled ‘Business Privilege Taxes,’ by eliminating for new businesses the requirement to make an estimated payment when filing a return for their first tax year of business operations and allowing the estimated payment in succeeding years to be made in quarterly installments, all under certain terms and conditions.

 

Body

THE COUNCIL OF THE CITY OF PHILADELPHIA HEREBY ORDAINS:

 

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

 

CHAPTER 19-2600.  BUSINESS PRIVILEGE TAXES.

 

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§19-2610.                     Estimated Tax Payments.  The Department shall promulgate regulations to provide for estimated tax payments to be paid concurrently, with the filing of any return, and for credits to be granted on any overpayment of estimated tax [payment.] payment; provided that, in the first year that a business is required to file a return, no estimated tax payments shall be required, and in the second year that a business is required to file a return, the Department shall allow the business the option to make estimated tax payments in four installments, on a schedule and in such manner as determined by regulation.  Estimated business [privilege] income and receipts tax payments for any given Tax Year shall be calculated without taking into account any reductions in tax rates or changes to apportionment formulas required by Bill No. 110554 for such Tax Year. The Department shall also promulgate regulations to provide for transition rules.  Failure to make an estimated payment pursuant to these regulations shall subject a taxpayer to interest, penalties and costs as provided in Section 19-509.

 

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                     SECTION 2.  This Ordinance shall take effect July 1, 2019.

 

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Explanation:

 

Italics indicate new matter added.

[Brackets] indicate matter deleted.

 

 

End