Summary
The City of Philadelphia’s business taxes, the Business Income and Receipts Tax (BIRT) and the Net Profits Tax (NPT), contributed 12.0 percent of General Fund revenues from FY16 to FY25, with BIRT accounting for more than 94 percent of business tax revenue. Although rates have steadily declined over the last decade, business taxes remain among the City’s most volatile revenue sources, with BIRT and NPT showing volatility rates of 14.1 percent and 28.6 percent respectively. From FY26 to FY30, business tax revenues are projected to decline slightly due to continued rate reductions, recent policy changes, and broader economic uncertainty.