(a) (1) Every individual taxpayer who resides in the City and who receives net profits, salaries, qualifying wages, commissions, rents or other personal service compensation for work done or services performed or rendered outside the City, if it is established with supporting documentation that said income is subject to Municipal income tax in another municipality and that said tax has been paid to that other municipality on the same income taxable under this chapter to another municipality, shall be allowed a credit against the tax imposed by this chapter of the amount so paid by him or in his behalf to such other municipality. The credit shall be only be for Municipal income tax paid the other municipality, and shall not exceed the full tax at the other municipality's tax rate. If the other municipality has a higher tax rate than the City, the credit shall not exceed the tax calculated at the City’s tax rate.
(2) If, for any tax year beginning on and after January 1, 2016, a resident taxpayer's net profit income taxable to another municipality for which credit is being taken is greater than the income taxable to the City, the credit shall not exceed 100 percent of the net profit income taxable to the City.
(b) The City shall grant a credit against its tax on income to a resident of the City who works in a joint economic development zone created under Ohio R.C. 715.691 or a joint economic development district created under Ohio R.C. 715.70, 715.71, or 715.72 to the same extent that it grants a credit against its tax on income to its residents who are employed in another municipal corporation.
(c) No credit shall be allowed for payment of school district income taxes.
(Ord. 151-2015. Passed 12-7-15.)