Effective on and after July 1, 2013, there is a credit against the income tax imposed by Section 880.031 of not more than one-half of one percent for residents of London who also pay municipal tax in another municipality. This credit shall only apply to income tax in excess of the one percent income tax levied by Section 880.03 and shall not apply to income tax levied by Section 880.03. This credit shall not exceed the difference between the actual amount of income tax paid to another municipality and the one percent imposed by Section 880.03.
(Ord. 130-12. Passed 5-3-12; Ord. 138-15. Passed 6-18-15.)