(a) When the taxable income of a resident of the Village 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 fifty percent (50%) of the income tax paid on such taxable income to such other municipality, but such credit shall not exceed fifty percent (50%) of the tax assessed by this chapter. For the purposes of this section, taxable income shall include the distributive share of net profits of a resident partner or owner of an unincorporated business entity.
(Ord. 2770. Passed 11-16-94.)
(b) A claim for credit or refund under this section shall be made in such manner as the Administrator may by regulation provide. In the event such Village resident fails, neglects or refuses to file an annual return or declaration on the form furnished by or obtainable from the Administrator, he shall not be entitled to such credit or refund and shall be considered in violation of this chapter for failure to file a return.
(Ord. 2208. Passed 7-14-80.)
DISBURSEMENT OF RECEIPTS OF TAX COLLECTION