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CITY OF PHILADELPHIA BUSINESS PRIVILEGE TAX REGULATIONS - page 16 / 59

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RETURNS

SECTION 201. WHO MUST FILE A RETURN.

Every individual, partnership, association, and corporation, and every receiver, trustee, assignee and other person acting in a fiduciary capacity, whether appointed by a court or otherwise, and any combination of persons, carrying on or engaging in any trade, business, profession, vocation or any manufacturing, commercial, service, financial, insurance or utility business or activity in Philadelphia or attributable to Philadelphia, must file a Business Privilege Tax return on the prescribed form available from the Department of Revenue.

The method shall reflect the gain (or loss) resulting from the activity of a business, profession or enterprise which occurs during the usual operations; inclusive of the sale, exchange or disposition of assets of an ongoing or terminated entity. Transactions must be identifiable, necessary and reasonable to the business, after allowance for applicable costs.

SECTION 202. DUE DATES FOR FILING RETURNS.

A.

Except as provided in subsections B, C and D, each person engaged in business is required to file a Business Privilege Tax Return on or before the 15th day of April of each tax year.

B

Persons Who Commenced Engaging in Business in Philadelphia During the Calendar Year Preceding the Tax Year.

Each person who commences engaging in business during the calendar year preceding the tax year is required to file a tax return for that tax year on or before April 15 of the year following the tax year.

Example:

"C" started in business April 15, 1984. Her tax return for the tax year 1985 must be filed on or before April 15, 1986.

Example:

"D" was engaged in business outside Philadelphia before opening a branch office in Philadelphia on September 1, 1985. Its tax return for the privilege year 1986 must be filed on or before April 15, 1987.

C.

Persons Who Commenced Engaging in Business in Philadelphia During the Current Tax Year.

Each person who commences engaging in business at any time during a tax year is required to file a tax return for that tax year on or before April 15th of the year following the tax year.

Example:

"A" started in business February 1, 1985. His tax return for the tax year 1985 must be filed on or before April 15, 1986.

14

(Rev. 08/01)

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