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Philadelphia net profits tax

2023 City of Philadelphia NET PROFITS TAX-2026

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The document outlines the 2023 Net Profits Tax (NPT) for individuals and entities operating in Philadelphia, detailing eligibility criteria, tax rates, due dates, and required forms. It specifies that corporations are exempt from this tax and provides instructions for calculating taxable income, credits, and payments. The due date for filing is April 15, 2024, with various worksheets included for residents and non-residents to determine their tax obligations.

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Click ‘Get Form’ to open the 2023 City of Philadelphia NET PROFITS TAX in the editor.
Begin by selecting your entity classification (Individual, Partnership, Estate, Trust) and fill in your Business Name, SSN, and contact details.
Indicate if any checkboxes apply (Address Change, Amended Return, Final Return) and provide necessary details.
Proceed to calculate your Pro Rata Resident taxable income/loss. Enter values from Worksheets A and B as instructed for Lines 1 through 11.
Complete the tax due calculations by following the prompts for Lines 12 through 20. Ensure you enter any credits or payments accurately.
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What is the net profit tax rate in Philadelphia 2025?

For 2025, NPT rates are 3.74% for residents and 3.43% for non-residents. The resident rate used to be 3.75%, the non-resident rate was 3.44%. The NPT is a tax paid by unincorporated entities on their net profits earned from trades, businesses, professions, and other for-profit activities in Philadelphia.

What is the Philadelphia business income and receipts tax?

Tax rates, penalties, fees The current rates for the Business Income Receipts Tax (BIRT) are 1.415 mills ($1.415 per $1,000) on gross receipts, and 5.99% on taxable net income. The BIRT is based on both gross receipts and net income. Both parts must be ﬁled.

Who pays Philadelphia net profit tax?

Who pays the tax. The Net Profits Tax (NPT) is imposed on the net profits from the operation of a trade, business, profession, enterprise, or other activity by: Philadelphia residents, even if their business is conducted outside of Philadelphia. Non-residents who conduct business in Philadelphia.

What is the net profit tax rate in Philadelphia?

The Net Profits Tax is imposed on the net profits of a business conducted by a Philadelphia resident, and on non-residents who conduct business in the City. The tax rates for 2025 are reduced from 3.75% to 3.74% for residents and from 3.44% to 3.43% for nonresidents.

What is the city earnings tax in Philadelphia?

How much is it? Effective dateResident rateNon-resident rate July 1, 2025 3.74% 3.43% July 1, 2024 3.75% 3.44% July 1, 2023 3.75% 3.44% July 1, 2022 3.79% 3.44%1 more row

philadelphia net profits tax form

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What percentage of profit is taxed?

A capital gains tax is imposed on the sale of an asset. The long-term capital gains tax rates for the 2025 tax year are 0%, 15%, or 20% of the profit, depending on the income of the filer.