Philadelphia mulling business tax change
The idea is to lessen the burden on small local firms and charge more to out of town companies.
Two Philadelphia City Council members want to change the way businesses pay their taxes in the city.
Councilman Bill Green and Councilwoman Maria Quionnes Sanchez say they want to redo the business tax structure to make out of town businesses pay their fair share while making it more attractive for businesses to set up shop in Philadelphia. Councilman Green says the tax change would bring in the same amount of revenue.
“This tax is about creating jobs and economic activity in the city of Philadelphia, and it will not be paid for by Philadelphia based businesses. It will be paid for by national businesses with over ten million dollars in revenue in the city of Philadelphia. It will grow jobs and increase rents and demand in Center City.”
Councilman Green admits he’s been arguing about the tax changes with the Nutter administration, but says it’s time to talk about the modifications in open hearings.
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