The City of Philadelphia is decreasing its Wage Tax and Earnings Tax rates for resident and non-resident taxpayers as of July 1, 2021. Here are the new rates:
The new Wage Tax rate for residents is 3.8398%.
The Earnings Tax rate for residents is also decreasing from 3.8712% to 3.8398%.
For non-residents, the Wage and Earnings Tax rates will be 3.4481%.
Feel free to contact any member of our teamat (610) 828-1900 (PA) or (732) 341-3893 (NJ) with questions. You can contact Marty McCarthy, CPA, CCIFP, managing partner at [email protected]orRich Higgins, CPA, managing principal – New Jersey office can be contacted at [email protected]. As always, we are happy to help.
Stay safe,
Patricia J. Hills
Staff Accountant
McCarthy & Company
Disclaimer: This alert is for informational purposes only and does not constitute professional advice. Information contained in this communication is not intended or written to be used as tax advice, and cannot be used by the recipient to avoid penalties that may be imposed under the Internal Revenue Code. We strongly advise you to seek professional assistance with respect to your specific issue(s).
