(a) When the taxable income of a resident of the City 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 the amount of income tax paid on such taxable income to such other municipality, equal to one hundred percent (100%) of the amount obtained by multiplying the lower of the tax rate of such other municipality or of the City of Garfield Heights by the taxable income earned or attributable to the municipality of employment or business activity, but, in any event, such credit shall not be applied to a rate in excess of two percent (2%) of the taxable income earned in or attributable to the municipality of employment or business activity. For the purpose of this section, taxable income shall include the distributive share of net profits of a resident partner or of an unincorporated business entity.
The amount of tax credit shall be reviewed by the Finance Committee of Council from time to time and such Committee shall make its recommendations as to future tax credits to Council at least semiannually. Council shall be empowered to raise the tax credit by amendment hereto, however any decrease in the tax credit shall be submitted to a vote of the electorate at any election in accordance with the laws of the State and Charter of the City.
(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 City resident fails, neglects or refuses to file an annual return or declaration on the form prescribed by the Administrator, he shall not be entitled to such credit or refund and shall be considered in violation of this title for failure to file a return.
(c) The effective date of this section shall be January 1, 1988.
(Ord. 32-1987. Passed 6-8-87.)
DISBURSEMENT OF RECEIPTS OF TAX COLLECTION