(a) Residents. When the taxable income of a resident of the City is subject to a municipal income tax in another municipality on the same income taxable under this chapter, such resident shall be allowed a credit of the amount of income tax paid on such taxable income to such other municipality, equal to one hundred percent (100%) of the amount charged by multiplying the lower of the tax rate of such other municipality or of the City by the taxable income earned or attributable to the municipality of employment or business activity. However, such credit shall not exceed one and one-half percent (1.50%) of the taxable income earned in or attributable to the municipality of employment or business activity. For purposes of this section, taxable income shall include the distributive share of net profits of a resident partner or owner of an unincorporated business activity.
(Ord. 22-94. Approved by Voters 5-3-94; Ord. 114-01. Approved by Voters 11-6-01; Res. R-27-07. Approved by Voters 11-6-07.)
(b) Nonresidents. When a nonresident of the City is subject to the tax imposed by this chapter and is also subject to tax on the same income in the municipality of his or her residence, he or she shall not be allowed any credit or claim of refund, nor will the City acknowledge or allow any claim for refund of any portion of such tax so levied.
(c) Filing for Credits. The credits provided for in subsection (a) hereof will not be allowed unless the same are claimed in a timely return or in a form acceptable to, and filed with, the Administrator. If a taxpayer fails, neglects or refuses to file such timely return or form, he or she shall not be entitled to such credit and shall be liable for the full amount of tax assessed by this chapter, together with such interest and penalties, both civil and criminal, as are prescribed in this chapter.
(Ord. 53-82. Passed 8-16-82.)