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Philadelphia Use and Occupancy License
Hello BP! I presently have 3 rental properties in Philadelphia, PA. I purchased my first property 2.5 years ago and the other 2 were purchased just in the last 6 months. I do have a Use and Occupancy licence for my first property but I am unsure if I need to file for additional licenses for every investment property I acquire. Can I just include all rental income from all properties under the Use and Occupancy license I already have? Or do I need to have a unique Use and Occupancy license for each property I buy? I would love to hear from some local accountants on this matter but all input is welcomed. Thank you!
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Not sure what kind of real estate this is or what kind of entity you use, but you probably need a Commercial Activity License and a BIRT / NPT Tax ID. You can sign up here (http://www.phila.gov/li/Pages/Business.aspx) U&O taxes are for commercial rentals. This is a good link that gets thrown around here every so often.
http://brownstonere.com/blog/landlord_guide