Data: Uber, Lyft Made $44M Since Becoming Legal In State
PHILADELPHIA (AP) — Tax revenue data released from the School District of Philadelphia shows ride-sharing companies Uber and Lyft have brought in more than $44 million in their first two months of legal operation in the city.
The Philadelphia Inquirer reports the district said Thursday it received nearly $358,000 in tax revenue from the July-to-September period during which the companies operated under a temporary authorization that then included a 1 percent tax per ride.
In November, Democratic Gov. Tom Wolf signed a bill that allowed ride-sharing companies to operate legally in the state. The legislation levied a 1.4 percent tax on each ride provided through the companies' apps.
The school district receives two-thirds of that. It expects the industry to generate between $2 million to $2.5 million for the city's schools annually.
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