What small business owners need to know about the major changes coming to Philly’s tax code

The city has eliminated a tax break that allowed companies to exclude their first $100,000 from liability under the business income and receipts tax, or BIRT.

Philadelphia officials are reaching out to help the tens of thousands of companies that will have to start paying the city’s business tax after a legal challenge led Mayor Cherelle L. Parker’s administration to eliminate a tax break that primarily benefited smaller firms.

“Our goal is to make sure that small businesses can adjust … while also thriving,” Revenue Commissioner Kathleen McColgan said in an interview Tuesday. “We want businesses to succeed here, and we’re doing our part to make that transition.”

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