TAXES. ------> BIRT & NPT after the sale of property in Philadelphia

[Pat Hamilton]

I just sold a nightmare property in Philadelphia and I'm bathing all my paperwork to figure out my taxes for next year.  I'm trying to do it on my own, without a CPA...Does this look right? 



PURCHASE PRICE IN 2020: $50,000

SALES PRICE IN 2023: $275,000

EXPENSES (payments to contractors and closing costs etc): $150,000

PROFIT: $75,000
BIRT TAX RATE SAYS: 1.415mills

on gross receipts, and 5.81% on taxable net income

.001415 X $275,000 = $389.13

.0581 x $75,000 = $4357.50

total is $4746.63

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NPT Tax 3.44% of net profits (after paying BIRT)
$75,000 - 4746.63 = 70,253.37
70,253.37 x .0344 = $2,416.72

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So, I am paying $2416.72 + $4357.50 = $6,774.22
Does this look right? Also, I think I have to file a Pennsylvania tax return, in addition to my New Jersey tax return (I live in NJ). I think it's about 3%, is that right? Plus of course the federal tax return. I think I'm in the 15% bracket.