Philly Won't Tax Fed. Biz Grants Issued For Pandemic Aid

Philadelphia won't subject certain federal grants issued in response to the novel coronavirus to the city's business taxes, the city Department of Revenue said in guidance released Wednesday.

The city will exclude certain grants issued issued under last year's Coronavirus Aid, Relief and Economic Security Act and Consolidated Appropriations Act from its business income and receipts tax and net profits tax, the department said. Expenses paid with the grants are also eligible for deductions, according to the bulletin, which is dated Feb. 18.

--Editing by Vincent Sherry. 

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