Bill 130487
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.
Introduced by
From the floor
Passages in the official transcripts that cite this file number. Every quote links to its exact place in the record.
“…y be appropriate, to reduce the net profits tax burden on certain existing and new businesses"; and Bill No. 130487, entitled "An ordinance amending Chapter 19-2600 of The Philadelphia Code, entitled 'Business Income and Receipts Tax,' by revising the alternative receipts tax computation"; and Bill No. 130324, entitled "An ordinance amending Chapter 2-200 of The Philadelphia Code, entitled 'Recording of Deeds," and C…”
Chief Clerk · Stated Meeting, June 20, 2013 · Jun 20, 2013 · official transcript, this passage
“…ity sources for the bonds in connection with issuance of the bonds, and certain other actions"; and Bill No. 130487, entitled "An ordinance amending Chapter 19-2600 of The Philadelphia Code, entitled 'Business Income and Receipts Tax,' by revising the alternative receipts tax computation," respectfully reports it has considered the same and returns the attached bills to Council with a favorable”
Chief Clerk · Stated Meeting, June 13, 2013 · Jun 13, 2013 · official transcript, this passage
Status timeline
- Jun 6, 2013Introduced and Referred · CITY COUNCIL
Recorded result: Pass
A motion was made by Councilmember Quiñones Sánchez that this matter be Introduced and Referred to the Committee on Finance. The motion carried unanimously.
- Jun 12, 2013HEARING NOTICES SENT · Committee on Finance
- Jun 12, 2013HEARING HELD · Committee on Finance
- Jun 12, 2013REPORTED FAVORABLY, RULE SUSPENSION REQUESTED · Committee on Finance
- Jun 13, 2013ORDERED PLACED ON THIS DAY`S FIRST READING CALENDAR · CITY COUNCIL
- Jun 13, 2013SUSPEND THE RULES OF THE COUNCIL · CITY COUNCIL
Recorded result: Pass
A motion was made by Councilmember Green that this matter be SUSPEND THE RULES OF THE COUNCIL. The motion carried unanimously.
- Jun 13, 2013READ AND ORDERED PLACED ON NEXT WEEK'S SECOND READING CALENDAR · CITY COUNCIL
- Jun 20, 2013READ AND PASSED · CITY COUNCIL
Recorded result: Pass
A motion was made that this matter be READ AND PASSED. The motion carried by the following vote:
- Jun 25, 2013SIGNED · MAYOR
Official documents
Documents open on the City of Philadelphia’s legislative site.
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..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 * * * § 19-2604. Tax Rates, Credits, and Alternative Tax Computation. * * * (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 (%) * * * * * * * * * * * * 2008 [through 2013] and thereafter 2.34 % 3.29 % 0.78 % [2014 2.19 % 3.08 % 0.73 %] [2015 2.07 % 2.91 % 0.69 %] [2016 1.82 % 2.56 % 0.61 %] [2017 1.65 % 2.33 % 0.55 %] [2018 1.40 % 1.98 % 0.47 %] [2019 1.24 % 1.75 % 0.41 %] [2020 0.83 % 1.17 % 0.27 %] [2021 0.43% 0.59% 0.14%] [2022 and thereafter 0.0% 0.0% 0.0%] * * * ___________________________________ Explanation: [Brackets] indicate matter deleted. Italics indicate new matter added. ..End