City of Philadelphia - File #: 220485

• File #: 220485
• Version: 0
• Type: Bill
• Status: ENACTED
• File created: 5/26/2022
• In control: Committee of the Whole
• 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

Date	Ver.	Action By	Action	Result	Tally
6/27/2022	0	MAYOR	SIGNED
6/23/2022	0	CITY COUNCIL	READ AND PASSED	Pass	14:3
6/16/2022	0	CITY COUNCIL	SUSPEND THE RULES OF THE COUNCIL
6/16/2022	0	CITY COUNCIL	READ AND ORDERED PLACED ON NEXT WEEK'S SECOND READING CALENDAR
6/16/2022	0	CITY COUNCIL	ORDERED PLACED ON THIS DAY`S FIRST READING CALENDAR
6/15/2022	0	Committee of the Whole	HEARING NOTICES SENT
6/15/2022	0	Committee of the Whole	HEARING HELD
6/15/2022	0	Committee of the Whole	REPORTED FAVORABLY, RULE SUSPENSION REQUESTED
6/14/2022	0	Committee of the Whole	HEARING NOTICES SENT
6/14/2022	0	Committee of the Whole	HEARING HELD
6/8/2022	0	Committee of the Whole	HEARING NOTICES SENT
6/8/2022	0	Committee of the Whole	HEARING HELD
6/8/2022	0	Committee of the Whole	RECESSED
5/26/2022	0	CITY COUNCIL

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...