193.081 CREDIT FOR INCOME TAXED BY ANOTHER MUNICIPALITY.

   When the Municipal Taxable Income of a resident of the City of Independence is subject to a municipal income tax in another municipality on the same income taxable under this Chapter 193, such resident shall be allowed a credit equal to 100 percent of the amount obtained by multiplying the lower of the tax rate of such other municipality or of the City of Independence by the Municipal Taxable Income earned in or attributable to the municipality of employment or business activity. For purposes of this Section 193.081, taxable income includes the portion of the distributive share of the net profits of a resident owner of an unincorporated business entity, or a resident recipient of distributions from a non-resident pass-through entity, to the extent that these are included in a resident's Municipal Taxable Income in the City of Independence.

(Ord. 2015-20. Passed 9-8-15.)