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City of Philadelphia NET PROFITS TAX Form

City of Philadelphia NET PROFITS TAX Form

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hi I'm April and here's your tax fact living in the city of Philadelphia comes with some extra taxes to pay that not everyone even City residents know about did you know we're the second largest tax City in the nation so who has to pay this tax anyway if you have rental property in the city or if you're self-employed and you live or work within City Limits you have to register and pay the business privilege tax you can do this at the city website phila.gov Revenue there's no fee to pay or to register there are two components to the tax a business income and receipts tax called the BD and a net profits tax called npt first we'll talk about the ber which is comprised of two taxes one that's on gross receipts that's .1 1415 and one that's on profits which is 62% the city requires that you also make a mandatory payment for the next year's tax which is calculated by taking the tax this year and doubling it now i

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