(A) Every individual taxpayer who resides in the City but receives net profits, salaries, qualifying wages, commissions or other personal service compensation for work done, or services performed or rendered outside of the City, if it is made to appear that he has paid a municipal income tax on the same income taxable under this chapter to another municipality, shall be allowed a credit of sixty percent (60%) of that part of the tax paid. The tax paid, against which the above credit shall be allowed, shall not exceed a maximum of one and two-tenths percent (1.2%) of the taxpayer's taxable income in such other municipality.
(B) The City of Louisville shall grant a credit against its tax on income to a resident of the City of Louisville who works in a joint economic development zone created under Section 715.691 or a joint economic development district created under Section 715.70, 715.71, or 715.72 of the ORC to the same extent that it grants a credit against its tax on income to its residents who are employed in another municipal corporation.
(C) If the amount of tax withheld or paid to the other municipality is less than the amount of tax required to be withheld or paid to the other municipality, then for purposes of division (A) of this section, "the income, qualifying wages, commissions, net profits or other compensation" subject to tax in the other municipality shall be limited to the amount computed by dividing the tax withheld or paid to the other municipality by the tax rate for that municipality.
(D) No credit shall be allowed for payment of school district income taxes.
(E) Intentionally left blank.
(Ord. 23-64. Passed 12-4-23.)