(a) Credit for tax paid to another municipality.
(1) Residents. When a resident is subject to and has paid a municipal income tax in another municipality, such resident may claim a credit against the tax imposed by this chapter in an amount equal to the lesser of the following amounts:
A. The amount of such tax paid to such other municipality;
B. The municipal tax imposed by this chapter on such income;
1. In no case shall the credit exceed the tax computed under this chapter on the residents' taxable income that is also subject to tax in another municipality.
(2) A resident owner of a pass-through entity that does not conduct business in the municipality and that has paid an income tax in another taxing municipality may claim a credit equal to the lesser of the following amounts:
A. The resident owner's propor-tionate share of the amount, if any, of income tax paid by the pass-through entity to another taxing municipality;
B. The resident owner's propor-tionate share of the amount of municipal income tax that would be imposed on the pass-through entity if the pass-through entity conducted business in the municipality.
1. In no case shall the credit exceed the tax computed under this chapter on the resident owner's propor- tionate share of income.
(3) A claim for a refund or credit under this section shall be made in such a manner as the Administrator may, by regulation, provide.
(4) As used in this section, the term "municipality" shall include municipal corporations (whether cities or villages), counties or joint economic development districts.
(Ord. 15-49. Passed 11- 17-15.)