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.
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.