10/20/11 -- Business Privilege Tax Reform
Public Hearing for BPT reform set for Monday, October 24th at 1 PM
Date: 10/20/11
Bill No. 110554, better known as the Business Privilege Tax (BPT) reform bill, is being brought up in a public hearing on Monday, October 24th. The primary sponsors for this bill are Councilman Green and Councilwoman Sanchez.

The legislation's two main reforms includes implementing a single sales factor apportionment which means that Philadelphia businesses would pay the high net income tax rate of 6.45% on income derived from sales only in Philadelphia. The second reform would provide an exemption from the gross receipts and net income parts of BPT for the first $100k of receipts for all businesses.

The Manufacturing Alliance of Philadelphia fully supports this bill. Philadelphia's tax code has long put manufactures and businesses at a competitive disadvantage as well as dampening economic growth. Furthermore, firms often choose to stay outside the city limits because of the onerous tax burdens Philadelphia places on its businesses.

While this bill is a step towards broader BPT reform, it will provide a serious boost to the ability of Philadelphia manufactures and businesses to compete in the region.

Contact your Councilman or the Manufacturing Alliance of Philadelphia to show your support for this bill.

Aaron Colsher, 215-948-9285 x105
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