Wednesday, July 1, 2015

Council passes major business tax overhaul

We just got confirmation from the Hall: City Council has passed two bills that completely change the way business taxes and fees work in this city.

Council passes major business tax overhaul

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Council members Maria Quiñones-Sánchez and Bill Green.
Council members Maria Quiñones-Sánchez and Bill Green.

We just got confirmation from the Hall: City Council has passed two bills that completely change the way business taxes and fees work in this city.

In short, the bills, sponsored by Council members Bill GreenMaria Quiñones-Sánchez and Jim Kenney, will relieve the business-privilege tax burden for small businesses, as well as eliminate many fees that new businesses have to pay just to get off the ground. 

But this is a big change for the city, and there's a lot more to it than that. Listen to this It's Our Money podcast for the least painful way to understand the reforms.

Also, data played a large role in these reforms. To find out what those data were, check out our story on the revenue department's analysis of the business-privilege tax as well as data from the Greater Philadelphia Hotel Association on how much Philly-based companies pay compared to out-of-towners.

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About this blog
Every year, city government spends slightly more than $4 billion. Where does all that money come from? More importantly, where does it go? Are we getting the most bang for our tax buck? “It's Our Money” is a joint project between Philadelphia Daily News and WHYY, funded by the William Penn Foundation, designed to answer these questions.

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