X hits on this document

PDF document

CITY OF PHILADELPHIA BUSINESS PRIVILEGE TAX REGULATIONS - page 21 / 59

162 views

0 shares

0 downloads

0 comments

21 / 59

(3)

The amount of any allowance made for goods, wares or merchandise taken by a dealer as a trade- in or as part payment for other goods, wares and merchandise in the usual and ordinary course of his business.

  • (4)

    A broker may exclude any commission paid by him to another broker on account of a contract of purchase or sale initiated, executed or cleared in conjunction with the other broker, except where either is an employee of the other. Likewise, an agent may exclude any commissions paid by him to another agent on account of purchase or sale initiated, executed or cleared in conjunction with the other agent, except where either is an employee of the other. A broker may not exclude a commission paid to an agent, and an agent may not exclude a commission paid to a broker.

  • (5)

    An attorney may exclude any fee or portion of a fee paid to another attorney where a matter has been forwarded either from or to the first attorney to or by the second

(6)

(a)

Receipts or the portion thereof attributable to any item of sale involving the bona fide delivery of goods, commodities, wares and merchandise to a location regularly maintained by the other party to the transaction outside the limits of the City of Philadelphia and not for the purpose of evading payment of the tax or any portion thereof.

    • (b)

      Receipts or that portion thereof received for any services actually performed outside the limits of the City of Philadelphia, and not for the purpose of evading payment of the tax or any portion thereof.

  • (7)

    In the case of financial businesses or a person which is described as being subject to a tax imposed pursuant to Article VII, VIII, or XV of the Tax Reform Code of 1971:

    • (a)

      The cost of securities and other intangible property and monetary metals sold, exchanged, paid at maturity or redeemed, but only to the extent of the total gross receipts from securities and other intangible property and monetary metals sold, exchanged, paid out at maturity or redeemed;

    • (b)

      Moneys or credits received in repayment of the principal amount of deposits, advances, credits, loans and other obligations;

    • (c)

      Interest received on account of deposits, advances, credits, loans and other obligations made to persons resident or having their principal place of business outside Philadelphia;

    • (d)

      Interest received on account of other deposits, advances, credits, loans and other obligations but only to the extent of interest expenses attributable to such deposits, advances, credits, loans and other obligations;

    • (e)

      Payments received on account of shares purchased by shareholders.

  • (8)

    Amount of principal received by the holder of bonds at redemption to the extent of the purchase price of the bonds, and moneys or credits received in repayment of the principal amount of deposits, advances, credits, loans and other obligations.

  • (9)

    Refunds, credits or allowances given by a seller to a purchaser on account of goods returned or defects in goods sold may be excluded from the seller's gross receipts only if the seller's receipts from the original sale of such goods are or were included in taxable receipts in the current or any previous year’s tax base. If receipts from the sale of goods were or are excluded from taxable receipts by virtue of any provision of these regulations, then any refunds, credits or allowances attributable to such sales may not be excluded from the seller's gross receipts.

19

(Rev. 08/01)

Document info
Document views162
Page views167
Page last viewedTue Dec 06 20:45:34 UTC 2016
Pages59
Paragraphs1302
Words24249

Comments