(A) To provide funds for the general fund for general municipal operations, projected capital requirements and the establishment of adequate reserves for the normal operations of the village, there is levied, subject to any exemptions the village may enact that are permitted for qualified municipal corporations under R.C. § 718.01(A)(1)(b)(ii), an annual tax on the income of every person residing in the village. The tax shall be measured by municipal taxable income, as that term is defined in R.C. § 718.01(A).
(B) The tax is levied in accordance with, and shall be interpreted consistent with, the limitations specified in Chapter 718 of the Ohio Revised Code, and this chapter hereby incorporates the provisions of Chapter 718 of the Ohio Revised Code. To the extent a conflict exists between a provision in this chapter and a provision in Chapter 718 of the Ohio Revised Code, the provision in Chapter 718 of the Ohio Revised Code shall apply and control.
(Ord. 07-15, passed 12-14-15)