Every individual taxpayer who resides in the Municipality, who receives net profits, qualifying wages, commissions or other compensation or other income for work done or services performed or rendered in another municipality or unincorporated area comprising a Joint Economic Development District on such net profits, qualifying wages, commissions or other compensation or other income shall be allowed a credit on the tax imposed by this chapter on the amount paid to such other municipality or Joint Economic Development District; provided, however, such credit shall only be allowable to the extent such tax is paid to another municipality or Joint Economic Development District on the income subject to the tax imposed by the chapter; and provided further that no credit shall be allowed for any overpayment of tax to another municipality or Joint Economic Development District. The credit shall not exceed the tax assessed by this chapter on such net profits, salaries, wages, commissions or other compensation or other income earned in such municipality or Joint Economic Development District where such tax is paid.
Effective January 1, 2002, the credit shall be 50% of the tax assessed by this chapter on such income earned in such other municipality or Joint Economic Development District where such tax is paid.
(Ord. 37-03. Passed 12-16-03.)