A. A Resident individual who receives Salaries, Wages, Commissions and Other Compensation for work done, services performed, or Business transacted outside the City, or is an Owner of a Pass-Through Entity that has paid a municipal income tax to another municipal corporation in this State and does not conduct business in the City, upon production of satisfactory evidence that such individual has paid an income tax to another municipality, to a Joint Economic Development District or to a Joint Economic Development Zone or that such Pass-Through Entity has paid an income tax to another municipal corporation in this State may claim a credit for the amount of tax paid to such other municipal corporation, Joint Economic Development District or Joint Economic Development Zone, as applicable, equal to the lesser of the following amounts:
1. The amount of tax, if any, paid by a resident individual or the Pass-Through Entity to another municipal corporation in this State, apportioned ratably according to the ownership interest of the Taxpayer in proportion to the total ownership interests of the Pass-Through Entity; or
2. The amount of tax that would be imposed on the resident individual or on the Pass-Through Entity by the City if the Pass-Through Entity conducted business in the City, apportioned ratably according to the ownership interest of the Taxpayer in proportion to the ownership interests of all Owners of the Pass-Through Entity.
(Ord. 100-15. Passed 11-23-15.)