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Updated almost 2 years ago,
Net Profits Tax Return
I am in the process of doing my taxes and was able to register on the new tax center website. My rental properties do not earn over 100k/year so I was able to file the BIRT easily, but I'm confused regarding the NPT tax portions. The worksheets asks so many questions, most do not seem to apply. The ones that do apply are:
Rented Property (at 8 times the net annual rental) ______________
Total average value of Property used within Philadelphia and everywhere, respectively __________
I just own one investment rental property in Philadelphia...why does it want to know "everywhere" I don't get it. Isn't there an easier way to complete.
I just want to multiply my net profit by 3.4481% (nonresidents) write them a check and go on with my life. Is there an easier way to do this?