Philadelphia looking to collect obscure tax to help schools
by thenotebook on Oct 03 2013 Posted in Latest news
by Tom MacDonald for NewsWorks
Philadelphia City Council is investigating ways to do a better job of collecting a virtually unknown tax.
The School Income Tax is nearly 4 percent on unearned income from Philadelphia residents — for example, stock dividends, casino winnings, and rental income.
Councilwoman Blondell Reynolds Brown says that it brings in nearly $28 million a year but that $5 million goes uncollected.