Business income & receipts & net income tax Philadelphia
1 Reply
Mayer M.
Investor from Cherry Hill, New Jersey
posted over 1 year ago
Hi everyone,
Trying to wrap my head around the Philadelphia business income and receipts tax and net profit tax.
If I have an entity that is for rentals what tax am I liable for?
And if I have an entity for flips what tax am I liable for?
All my entries are LLCs. It’s my understanding that that makes a difference for the Philadelphia tax.
Thank you,
Mayer
Adam Zell
Rental Property Investor from Philadelphia, PA
replied over 1 year ago
For rentals, you're responsible for all 3. I think that's also the case for flips but I don't have any personal experience with that.