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This tax, known popularly as the "mobility tax", or the "MTA tax", is intended to provide funds for the Metropolitan Transportation Authority, which transports many of the region's commuters. [8] Philadelphia has a 3.924% wage tax on residents and a 3.495% tax on non-residents for wages earned in the city as of August 2013. [9]
Philadelphia has shifted to an information technology and service-based economy. Philadelphia and the Delaware Valley are a biotechnology hub. [5] As of 2023, metropolitan Philadelphia had entered the ranks of the top five U.S. venture capital centers, facilitated by its proximity to New York City and its entrepreneurial and financial ...
Philadelphia has its own local income taxation system. Philadelphia-based employers are required to withhold the Philadelphia wage tax from the salaries of their employees. Residents of Philadelphia working for an employer are not required to file a local return as long as their Philadelphia wage tax is fully withheld by their employer.
Map of average income by location in Pennsylvania from the 2014 American Community Survey five-year estimate. Outside of the Philadelphia, Pittsburgh, and Harrisburg metropolitan areas, Pennsylvania is a relatively poorer state, especially in the northern areas and the Appalachian Mountains; only 22% of Pennsylvania places have per capita incomes higher than the national per capita income, and ...
Personal income is estimated before the deduction of personal income taxes and other personal taxes and is reported in current dollars (no adjustment is made for price changes). [2] Per Capita Personal Income (PCPI) is a more inclusive estimate of the average standard of living of residents in the U.S. than measures of per capita income.
According to University City Science Center: An Engine of Economic Growth for Greater Philadelphia, which was prepared by the Economy League of Greater Philadelphia, graduate firms that remain in the Philadelphia area produce $4.2 million in state income taxes and $22 million in Philadelphia city wage taxes every year. [8]
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A worker at the Philadelphia Navy Yard sued the city, alleging that the tax was unconstitutional. In 1943, the Pennsylvania Supreme Court in the case of Kiker v. Philadelphia ruled that the wage tax was indeed constitutional and upheld it. [6] The tax remains in place as of 2020 and is Philadelphia's largest source of tax revenue. [7]