CITY OF PHILADELPHIA BUSINESS PRIVILEGE TAX REGULATIONS
SECTION 101. DEFINITIONS.
The following words and phrases, when used in these Regulations, have the meanings ascribed to them in this section, except where the contents clearly indicate another or a different meaning.
"Affiliated group." One or more chains of corporations connected through stock ownership with a common parent corporation if:
Stock possessing at least eighty (80%) percent of the voting power of all classes of stock and at least eighty (80%) percent of each class of the nonvoting stock of each corporation, except the common parent corporation, is owned directly by one or more of the other corporations.
The common parent corporation owns directly stock possessing at least eighty (80%) percent of the voting power of all classes of stock and at least eighty (80%) percent of each class of the nonvoting stock of at least one of the other corporations. As used in this definition, "stock" does not include non-voting stock which is limited and preferred as to dividends.
"Allocation." The assignment of nonbusiness income (or losses) within or without the City of Philadelphia.
"Apportionment." The process of assigning receipts or business income (or losses) within and without the City of Philadelphia by the use of a formula containing one or more apportionment factors.
"Business." Carrying on or exercising for gain or profit within Philadelphia any trade, business, including financial business as hereinafter defined, profession, vocation or commercial activity or making sales to persons within the City of Philadelphia. "Business" shall not include the following:
Those activities conducted by a nonprofit corporation or association organized for religious, charitable or educational purposes, if such activities are directly related to its religious, charitable or educational purposes.
The business of any political subdivision, or of any authority created and organized under and pursuant to law of this Commonwealth.
The specific business conducted by any public utility operating under the laws, rules and regulations administered by the Pennsylvania Public Utility Commission or conducted by a business subject to the jurisdiction of the Interstate Commerce Commission of furnishing or supplying service or services at the rates specified in its tariffs.
The business of any insurance company, association or exchange, or any fraternal, benefit or beneficial society of any other state under the laws of which insurance companies, 1