(a) When the taxable income of a resident of Linndale is subject to a municipal income tax in another municipality on the same income taxable under this income tax ordinance, such resident shall be allowed a credit of the amount of income tax paid on such taxable income to such other municipality, equal to 100% of the amount obtained by multiplying the lower of the tax rate of such other municipality or of Linndale by the taxable income earned in or attributable to the municipality of employment or business activity. For the purposes of this section taxable income shall include the distributive share of net profits of a resident partner or owner of an unincorporated business entity.
(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 Linndale 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 income tax ordinance for failure to file a return.
(Ord. 1971-14. Passed 12-7-71.)
(c) Claim for Credit. Any claim for credit for income taxes paid another municipality on the same income taxable hereunder, or claim for or assignment of any refund due to the credit provided for herein, must be filed with the Administrator on or before December 31 of the year following that for which such credit is claimed, provided that, in the case such claim for reciprocity refund shall have been assigned to the municipality of residence, such municipality of residence shall file a claim for refund with the Administrator on or before January 31 following. Failure to file such claim for reciprocity credit or refund, or assignment thereof, within the time prescribed herein shall render such credit, claim for refund, or assignment null and void.
(Ord. 1970- .)