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Tax Regulation Changes
Proposed:
The Department of Revenue held hearings on Friday, February 13, 2009 on a regulation amendment that clarifies that unrelated business activities of nonprofit entities are subject to the Business Privilege Tax. The second regulation change removes an exclusion from Business Privilege Taxes for Deemed Real Estate Investment Trusts.
The Department is now reviewing the transcripts from the hearing and will be preparing a report that either affirms or modifies the proposed amendments. The reports will be posted here when completed. Completed reports will also be submitted to the Department of Records.
If you have questions or need additional information, please contact Marisa Waxman at Marisa.Waxman@Phila.Gov
Non-Profit Regulation Amendment
New Regulation:
The 2010 Philadelphia Tax Amnesty regulations became effective on April 5, 2010.
On December 28, 2009 an amendment that removes an exclusion from Business Privilege Taxes for Deemed Real Estate Investment Trusts became effective.
Business Privilege & Net Profits Tax Amendment
Deemed REIT Commissioner Report
Deemed REIT Regulation Amendment
Deemed REIT Hearing Transcript
All questions or comments concerning this website should be directed to
Mrs. Toni Curtis-Ford at (215) 686-6628 or toni.curtis-ford@phila.gov
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