(A) An individual taxpayer regardless of filing status who resides in the Municipality and who earns or receives salaries, wages, commissions, or other compensation or net profits from sales made, work done or services performed or rendered outside of the Municipality, shall be allowed a credit in the amount of municipal income tax paid on the same income (ie. on each dollar taxed), by or on behalf of that individual, if it is demonstrated that a municipal income tax has been so paid. Such credit shall be allowed only to the extent of the tax imposed by this chapter.
(B) A resident individual with income from an ownership interest in one or more pass-through entities, activities of a sole proprietor, or rental activities, after the deduction of distributable losses from other pass-through entities or business activities not utilized as a net operating loss carry-forward in any municipal taxing jurisdiction after January 1, 2018, shall be allowed a non-refundable credit for the amount so paid by the resident or on the resident's behalf in such other municipal corporation only to the extent of the tax assessed by this chapter.
(C) The credit for tax paid by a resident individual for salaries or wages earned in a non-resident municipal corporation is limited to the tax that is paid on the same income (ie. on each dollar taxed) after all allowable 2106 expenses have been deducted and shall not exceed the tax established by this chapter.
(D) Notwithstanding any other provisions inconsistent herewith, a claim for refund or credit under this section shall be made in such manner as the Tax Administrator may provide. No such claim for refund or credit shall be allowed unless made on or before the date of filing the taxpayer's final return unless such taxpayer's employer files with the Tax Administrator a list showing the tax withheld from such taxpayer's wages, salaries or commissions for other municipalities.
(E) No credit shall be given for county or school district taxes paid; only other municipal income taxes.
(Ord. 2024-02. Passed 3-14-24.)
(Ord. 2024-02. Passed 3-14-24.)