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CITY OF PHILADELPHIA BUSINESS PRIVILEGE TAX REGULATIONS - page 23 / 59

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(14)

Receipts by a corporation which is a member of an affiliated group from other members of the same affiliated group.

Illustration: A parent corporation owns: 80% of all classes of voting and nonvoting stock of "A" corporation. 55% of all classes of voting and nonvoting stock of "B" corporation. 60% of all classes of voting and nonvoting stock of “C" corporation. 85% of all classes of voting and nonvoting stock of "D” corporation. Corporation "A” owns 30% of the voting and nonvoting stock of "B" corporation.

Corporation "B" owns none of the voting and nonvoting stock of the affiliated group.

(15)

Corporation "C" owns none of the voting and nonvoting stock of the affiliated group.

Corporation "D” owns 25% of the voting and nonvoting stock of “C" corporation.

Receipts by any one of the five affiliated corporations from one or more of the other four affiliated corporations are excludable from gross receipts.

  • (a)

    Dividends, interest and royalties received by one corporation from a corporation of the same affiliated group.

  • (b)

    Dividends, interest and royalties received by a corporation or a partnership from a corporation of which the receiving corporation or partnership owns at least twenty (20%) percent of the voting power of all classes of stock and at least twenty (20%) percent of each class of non-voting stock.

Illustration:

On January 2, 2000, “A” Corporation and “B” partnership each owned 25% of the voting and non-voting stock of ‘H’ corporation. On that date, ‘H’ corporation declared a cash dividend. The amount of such dividend, which A Corporation and B partnership received, is excludable from gross receipts.

  • (16)

    Receipts by dealers from sales to other dealers in the same line, where the dealer transfers title or possession at the same price for which he acquired the goods, wares or merchandise.

  • (17)

    Commissions and similar charges received by persons registered under the Pennsylvania Securities Act of 1972, on account of transactions effected for persons resident or having their principal place of business outside Philadelphia.

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(Rev. 08/01)

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