This version of the form is not currently in use and is provided for reference only. Download this version of the document for the current year.
Net Profits Tax is a legal document that was released by the Department of Revenue - City of Philadelphia, Pennsylvania - a government authority operating within Pennsylvania. The form may be used strictly within City of Philadelphia.
Q: What is the Net Profits Tax?
A: The Net Profits Tax is a tax imposed by the City of Philadelphia in Pennsylvania.
Q: Who is subject to the Net Profits Tax?
A: All businesses that operate in Philadelphia and generate net profits are subject to the tax.
Q: How is the Net Profits Tax calculated?
A: The tax is calculated based on a percentage of a business's net profits.
Q: What is the current Net Profits Tax rate in Philadelphia?
A: The current tax rate for the Net Profits Tax in Philadelphia is 6.45%.
Q: Is there a minimum threshold for the Net Profits Tax?
A: Yes, businesses with net profits less than $100,000 are exempt from the tax.
Q: When is the Net Profits Tax return due?
A: The Net Profits Tax return is generally due by April 15th of each year.
Q: Can I deduct expenses from my net profits before calculating the tax?
A: Yes, businesses can deduct allowable expenses from their net profits before calculating the tax.
Q: Are there any credits or exemptions available for the Net Profits Tax?
A: Yes, there are various credits and exemptions available for certain businesses and industries.
Q: Who do I contact for more information about the Net Profits Tax in Philadelphia?
A: For more information about the Net Profits Tax, you can contact the Department of Revenue of the City of Philadelphia.
Form Details:
Download a fillable version of the form by clicking the link below or browse more documents and templates provided by the Department of Revenue - City of Philadelphia, Pennsylvania.