City of Philadelphia Department of Revenue Announces Wage Tax Reduction for July 1, 2016

clothespin-statue-philadelphia

Philadelphia Landmark:
The Famous and Quirky 45 Foot Steel Clothes Pin Created by Sculptor Claes Oldenburg Across from City Hall

 

The City of Philadelphia has reduced the City Wage Tax rate effective July 1, 2016.

  • The new Wage Tax rate for residents of Philadelphia is 3.9004% (.039004).
  • The new Wage Tax rate for non-residents of Philadelphia who are subject to the Philadelphia City Wage Tax is 3.4741% (.034741).

What does this mean to you?

Any paycheck that you issue with a pay date after June 30, 2016 must have Philadelphia City Wage Tax withheld at the new rate.

Important Reminder To Employers: Even if you have no physical presence in Philadelphia, you must still withhold and remit Philadelphia wage tax on any employees who live in Philadelphia.



La Ciudad de Filadelfia ha reducido la tasa de impuestos sobre salarios efectivo el 1 de Julio de 2016.

  • La nueva tasa de impuesto sobre el salario para los residentes de Filadelfia es 3.9004% (.039004).
  • La nueva tasa de impuesto sobre el salario de empleados que no son residentes de Filadelfia, pero que están sujetos al impuesto es 3.4741% (.034741).

¿Qué significa esto para usted?

Cualquier cheque de pago que se emite con una fecha de pago despues del 30 de Junio, del año 2016, debe tener el impuesto de la Ciudad de Filadelfia sobre salarios retenido en la nueva tarifa.

 

I hope this article has been of value to my readers.  If you do not want to miss future tax and estate alerts simply complete FREE TAX AND ESTATE UPDATES: JUST ENTER YOUR EMAIL ADDRESS found at the upper right hand column of this website. Your email will only be used to send you notice of new tax and estate articles and will not be used for any other purpose and it will not be shared with any other parties.

Copyright © 2016 – Steven J. Fromm & Associates, P.C., 1420 Walnut Street, Suite 300, Philadelphia, PA 19102. All rights reserved.

Disclosure and Disclaimer:  This article has been prepared and published for informational purposes only and is not offered, nor should be construed, as legal advice. For more information, please see the firm’s full disclaimer.

 

Save

Advertisements

4 responses to “City of Philadelphia Department of Revenue Announces Wage Tax Reduction for July 1, 2016

  1. I actually added your blog to my favorites and will look forward for more updates. Great job, Keep it up. First of all let me tell you, You have a got a great blog. I am interested in looking for more of such topics and would like to have further information. Hope to see the next blog soon.
    Foreign company registration in India

    Like

  2. I actually added your blog to my favorites and will look forward for more updates. Great job, Keep it up. First of all let me tell you, You have got a great blog. I am interested in looking for more of such topics and would like to have further information. Hope to see the next blog soon.

    Like

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s