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File #: 220485    Version: 0 Name:
Type: Bill Status: IN MAYOR'S OFFICE
File created: 5/26/2022 In control: Committee of the Whole
On agenda: Final action: 6/23/2022
Title: Amending Section 19-2600 of The Philadelphia Code, entitled "Business Income and Receipts Taxes," with respect to allocation and apportionment of income and receipts inside and outside of the City, all under certain terms and conditions.
Sponsors: Council President Clarke, Councilmember Parker
Indexes: BUSINESS INCOME AND RECEIPTS TAXES
Code sections: 19-2600 - Business Income and Reciepts Tax
Attachments: 1. CertifiedCopy22048500.pdf
Date Ver.Action ByActionResultTallyAction DetailsVideo
6/27/20220 MAYOR SIGNED   Action details Not available
6/23/20220 CITY COUNCIL READ AND PASSEDPass14:3 Action details Not available
6/16/20220 CITY COUNCIL SUSPEND THE RULES OF THE COUNCIL   Action details Not available
6/16/20220 CITY COUNCIL READ AND ORDERED PLACED ON NEXT WEEK'S SECOND READING CALENDAR   Action details Not available
6/16/20220 CITY COUNCIL ORDERED PLACED ON THIS DAY`S FIRST READING CALENDAR   Action details Not available
6/15/20220 Committee of the Whole HEARING NOTICES SENT   Action details Not available
6/15/20220 Committee of the Whole HEARING HELD   Action details Not available
6/15/20220 Committee of the Whole REPORTED FAVORABLY, RULE SUSPENSION REQUESTED   Action details Not available
6/14/20220 Committee of the Whole HEARING NOTICES SENT   Action details Not available
6/14/20220 Committee of the Whole HEARING HELD   Action details Not available
6/8/20220 Committee of the Whole HEARING NOTICES SENT   Action details Not available
6/8/20220 Committee of the Whole HEARING HELD   Action details Not available
6/8/20220 Committee of the Whole RECESSED   Action details Not available
5/26/20220 CITY COUNCIL     Not available Not available
Title
Amending Section 19-2600 of The Philadelphia Code, entitled "Business Income and Receipts Taxes," with respect to allocation and apportionment of income and receipts inside and outside of the City, 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 INCOME AND RECEIPTS TAXES


? 19-2601. Definitions.


* * *

Receipts. Cash, credits, property of any kind or nature, received from conducting any business or by reason of any sale made, including resales of goods, wares or merchandise taken by a dealer as a trade-in or as part payment for other goods, wares or merchandise or services rendered or commercial or business transactions, without deduction therefrom on account of the cost of property sold, materials used, labor, service or other cost, interest or discount paid or any other expense. For the purpose of determining receipts from the business of insurance, such receipts shall mean those from premiums received from risks within the city of the first class, whether by mutual or stock companies, domestic or foreign, without any deductions therefrom for any cost or expenses whatsoever; except, premiums shall not include return premiums, dividends paid or credited to policyholders, if such dividends are in the nature of an adjustment of the premiums charged, and premiums received for reinsurance. Receipts from a person engaged in the business of insurance shall also include receipts from rental real estate situated in cities of the first class, but shall not include interest, dividend and capital gain receipts. Nothing in this definition shall preclude the taxation of other nonpremium business receipts of persons engaged in the business of insurance. [For purposes of determining the source of receipts of a Software Company the Market Based Sourcing Rule shall apply in accordance with Section 4...

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