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City of Philadelphia BUSINESS INCOME & RECEIPTS TAX  Form

City of Philadelphia BUSINESS INCOME & RECEIPTS TAX Form

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greetings my name is Kyle Sully and with me is my partner Steve Blazek we're both partners at the law firm Reed Smith those of you who don't know Reed Smith is an international law firm with offices all over the world but important and relevant to those of you tuning in today Reed Smith has the largest state tax practice in the country with over 30 lawyers practicing state tax around the around the country and six offices including Philadelphia in Philadelphia Reed Smith has the largest state tax practice of any law firm in the country and that's we're gonna be talking about today the city of Philadelphia we're gonna be talking in particular about the business income and receipts tax the city of Philadelphia imposes its a whopping tax over six percent and if you couple that with the 10% tax imposed at the state level you'll see that the city and state imposed tax of 16 percent which makes it the largest tax burden of any jurisdiction in t

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