Nutter signs 2 bills lessening Phila. business taxes

Jeff Blumenthal
Reporter - Philadelphia Business Journal

Philadelphia Mayor Michael Nutter has signed two pieces of legislation to ease the business tax burden.

One bill sponsored by City Councilwoman Maria Quiñones-Sánchez and Councilman Bill Green has three components: a phased in exclusion of the first $100,000 in gross receipts from the business privilege tax (BPT) and a proportionate share of the net income from BPT; a change in the net income portion of the BPT from being based on the amount of sales, property and payroll a company has in Philadelphia to the sales the company has in Philadelphia. This reform is commonly called the single sales factor apportionment.

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"I ran for office four years ago and I am running today because I love this City... My campaign theme in 2007 and still today - 'beholden to none, accountable to all' - reflects my commitment to be a strong, independent voice for all Philadelphians." - Bill Green