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CITY OF PHILADELPHIA BUSINESS PRIVILEGE TAX REGULATIONS - page 17 / 59

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Example:

"B" was engaged in business outside Philadelphia for 10 years prior to engaging in business in Philadelphia on July 1, 1985. Her tax return for the tax year 1985 must be filed on or before April 15, 1986.

D.

Persons Engaged in a Temporary, Seasonal, or Itinerant Business.

Each person engaged in a temporary, seasonal or itinerant business is required to file a tax return for each tax year within thirty (30) days of the day completing each business during any tax year.

SECTION 203. PERIOD USED IN COMPUTING TAX.

The determination or computation of net income or taxable receipts depends upon the period of time during which the taxpayer was engaged in business in Philadelphia.

  • A.

    Tax on Net Income

    • 1.

      Persons Who Commenced Engaging in Business in Philadelphia More Than One Full Year Prior to the Beginning of a Tax Year.

      • a.

        Persons Filing with the Federal Government on a Calendar Year Basis. The net income reportable shall be the net income (or loss) for the calendar year preceding the tax year.

      • b.

        Persons Filing with the Federal Government on a Fiscal Year Basis. The net income reportable shall be the net income (or loss) for the most recent twelve month fiscal year used for reporting net income (or loss) to the Federal Government, which fiscal year ends on or before December 31 of the year preceding the tax year.

In the event that the taxpayer was engaged in business in Philadelphia during the entire preceding calendar year, but commenced business in Philadelphia with a fiscal period shorter than twelve months, and did not complete a full twelve month fiscal period during the preceding calendar year, the taxpayer shall compute and report net income in accordance with the rules set forth in subsection A.2.b.

  • 2.

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

    • a.

      Persons Filing with the Federal Government on a Calendar Year Basis. The net income reportable shall be the net income (or loss) for the calendar year which is concurrent with the tax year.

    • b.

      Persons Filing with the Federal Government on a Fiscal Year Basis. The net income reportable shall be the net income (or loss) for the first full twelve month fiscal period ending within the tax year, which is used for reporting net income (or loss) to the Federal Government.

15

(Rev. 08/01)

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