Maria for Mayor | Accomplishments | Small Business

Maria's Accomplishments

Small Business

YOUR SMALL BUSINESS ADVOCATE

Maria Quiñones Sánchez chaired Council’s Appropriations and Education Committees, co-chaired Council’s Special Committee on Poverty Reduction & Prevention, and served on the Philadelphia Tax Reform Working Group.

As your small business advocate, Maria has fought to make Philadelphia a better place to start, run, and grow a business. Her legislative agenda stimulated economic activity, promoted job growth, and ensured Philadelphia businesses compete on a level playing field.

COVID-19 PANDEMIC RELIEF AND RECOVERY

From the earliest days of the COVID-19 pandemic, Maria worked to protect small businesses and essential workers and to support the economic recovery of our neighborhood commercial corridors. She cut the red tape and championed policy changes to safely reopen our economy and send direct assistance to families and small businesses.

Maria led the Small Business Working Group and successfully advocated for protections and resources for the business community including:

$20 million in small business relief

Deferral of the refuse tax for the hospitality industry

Establishing a small business preference for over 10 million in local aid funds

Maria led a successful effort, in partnership with the City Solicitor, Planning Department, ZBA, and industry stake- holders to re open critical city offices so that developments could access the necessary permitting from Streets, Water, and other departments to move projects forward.

As Appropriations Chair, Maria ensured accountability and transparency for $85 million in emergency funding and worked to close the projected $750 million budget gap in FY21.

As a member of the Philadelphia Tax Reform Working Group, Maria advocated for tax reform to reduce the burden on small and neighborhood-based businesses and support further reforms to help neighborhoodsustaining businesses grow and create jobs, including wage and business tax reductions in the FY23 budget

HISTORIC BUSINESS INCOME AND RECEIPTS TAX (BIRT) TAX REFORM

Maria authored transformative tax reform legislation to dramatically lower the tax burden on small businesses to boost local manufacturing.

Maria’s Business Tax Reform exempted small businesses on the first $100,000 of their business income and receipts tax (BIRT) liability, waived their licensing fees, and reduced their liability on sales made outside the city.

Now at full implementation, more than 73,000 of the city’s nearly 100,000 neighborhood-based businesses are fully exempt from BIRT liability.

Single Sales Factor (Manufacturing Tax Reform)

From the earliest days of the COVID-19 pandemic, Maria worked to protect small businesses and essential workers and to support the economic recovery of our neighborhood commercial corridors. She cut the red tape and championed policy changes to safely reopen our economy and send direct assistance to families and small businesses.

As part of Bill No. 110554, Maria reformed the business tax liability structure for manufacturing, representing almost 70% in tax savings for this sector and enabling our local manufacturing businesses to better compete in the global economy.

Waiving Business Privilege License

Bill No. 110548-A reduced the tax burden on existing and new businesses by eliminating the fee for the issuance of the business privilege license for any business in the City of Philadelphia.

Use and Occupancy Tax: Use and Occupancy Tax

Reform shielded small businesses from a massive tax increase due to the Actual Value Initiative (AVI), by entitling 69% of percent of Philadelphia businesses including 8,271 small “Mom and Pop” businesses, to a $2,000 tax exemption.

BECOMING THE BCORP CAPITAL OF THE WORLD

In February 2016, Maria authored legislation (Bill No. 160132-A & 160133) to incentivize the growth and development of BCorps in the City of Philadelphia. BCorps create family-sustaining jobs, provide significant opportunities for women and minority participation and ownership, and contribute substantially to local charitable organizations.

Expanding the Sustainable Business Tax Credit

Doubled the value of the credit from $4,000 to $8,000.

Applied the credit against the recipient’s full BIRT liability, rather than just gross receipts liability

Expanded eligibility by lifting the cap on eligible BCorps and modernized the definition of “Sustainable Business.”

Creating a “Jump Start” Program for New BCorps

Established a 3-year exemption from BIRT liability for new sustainable businesses (qualifying new businesses were previously entitled to a 2-year exemption, as well as waiver of certain licensing fees).