![]() April will be cooler and drier than normal, while May will be warmer and rainier. The snowiest periods will be in early to mid-January, late January, and late February. The coldest periods will be in early December, early and late January, and most of February. Winter temperatures will be below normal, while precipitation and snowfall will be above normal. ** PSD Codes can be found here for the requisite forms.Enter Your Location Annual Weather Summary The Mercantile Tax is based on total retail and wholesale sales from the business. The Mercantile Tax is paid by merchants with businesses in Lower Gwynedd Township. 20 Act 42 defines a base of operations as “an actual, physical and permanent place of business from which a taxpayer manages, directs and controls its business activities at that location.”21 Additionally, Act 42 provides that a taxpayer can be credited in its home jurisdiction (i.e., the location of the base of operations) for the gross receipts tax paid to a jurisdiction pursuant to the 15 day rule. Act 42 amended Section 301.1 of the Local Tax Enabling Act to specify that the business privilege tax may be levied on a business if it conducts transactions in the levying jurisdiction for all or part of fifteen (15) or more calendar days within a year or if the business is operated through a base of operations in the levying jurisdiction. In order to address the aforementioned conflicting case law as well as ambiguity in the law, the General Assembly enacted Act 42 of 2014. Under Act 42 of 2014 a Business that conduct activities for all or part of 15 or more calendar days within a year is subject to the Business Privilege Tax. The BPT is based on one mil (1 mil) of gross receipts. ![]() The Business Privilege Tax is paid by business owners and professionals with offices based in Lower Gwynedd Township. Any individual making less than $12,000 in a calendar year can file for an exemption with your employer. This tax is usually collected by payroll withholding and remitted to the Tax Administrator. The Local Services Tax was enacted in 2011 and is paid by everyone working in the Township. For instance, with a millage rate of 1.493 mills, and a $300,000 assessed value of a home the tax rate would be: To calculate a property tax the formula is always (Mill Rate X Assessed Value). One mill is equal to one-tenth (1/10) of a penny or 1/1000 of a dollar. Property Taxes are expressed in terms of mills per dollar of assessed value. The following is the millage rate and breakdown for the 2023 Fiscal Year: General Purpose The Board of Supervisors approves the real estate millage rate for the Township as part of the annual budget approval process (usually in early December). The collection of the EIT generates 53% of the revenues received by the Township. This tax is distributed evenly between the Township and Wissahickon School District, each receiving 0.5%. Earned Income Tax (EIT)*Īn Earned Income Tax (EIT) of 1% on gross earnings for individuals and net profits for businesses is imposed on everyone living or working in Lower Gwynedd Township. The following is a list and brief explanation of the taxes enacted by Lower Gwynedd Township. This revenue is used towards police protection, fire protection, street repair and maintenance, parks maintenance and capital improvement projects along with many other services throughout the township to ensure the highest quality of safety for our residents and visitors. For Lower Gwynedd Township 80% of the total revenues come from taxes.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |