(A) Limitation on amount paid. Every individual taxpayer who resides in the Municipality and who receives income, qualifying wages, commissions, or other compensation or net profits from sales made, work done, or services performed or rendered outside of the Municipality, if it be made to appear that he has paid a municipal income tax on such income, taxable under this ordinance, to another municipality, shall be allowed a credit for such tax paid to the other municipality, against the tax imposed by this ordinance in an amount not to exceed 100% of the income and/or earnings taxes paid and owed to another municipality.
(B) Resident homeowners. Residents who own or have an equity interest into the real estate that the resident is domiciled and pay real estate taxes shall be allowed an exemption to be given as credit equal to 0.12% per annum. The resident’s dependent shall also receive the credit equal to 0.12% per annum.
(C) Credits and limitations thereof. Notwithstanding the provisions contained in this § 182.081, or any other provisions inconsistent herewith, a claim for refund or credit under this section shall be made in such manner as the Tax Administrator may by regulation provide.
(1) Resident individual.
(a) An individual taxpayer who resides in the municipality, and earns qualifying wages for work done or services performed or rendered in any municipal corporation, shall be allowed a credit in the amount of municipal income tax paid by or on behalf of that individual if it is demonstrated that a municipal income tax has been so paid. Total credit shall be allowed only to the extent of the tax assessed by this chapter,
(b) A resident individual with income from an ownership interest in one or more pass-through entities, activities of a sole proprietor, or rental activities, after the deduction of distributable losses from other pass-through entities or business activities not utilized as a net operating loss carryforward in any municipal taxing jurisdiction after January 1, 2018, shall be allowed a non-refundable credit for the amount so paid by or on behalf of the resident individual in such other municipal corporation only to the extent of the tax assessed by this chapter.
(c) The credit for tax paid by a resident individual for salaries or wages earned in a non-resident municipal corporation is limited to the tax that is paid after all allowable 2106 expenses have been deducted and shall not exceed the tax established by this chapter.
(d) No credit shall be given for any county or school district income tax.
(2) Non-resident individual.
(a) Every individual taxpayer who is a non-resident of the municipality who earned qualifying wages for work done or services performed or rendered in the municipality, shall be allowed a credit for the amount so paid if it is demonstrated that a municipal income tax has been paid by or on behalf of that individual. Such credit shall be applied only to the extent of the tax assessed by this chapter.
(b) A non-resident individual with ownership interest in one or more pass-through entities taxed at the entity level shall not report said income or losses on a non-resident individual annual return and shall not be allowed any credit for taxes paid on their behalf by the pass- through entity to any municipal corporation.
(c) No credit shall be given to a non-resident individual for any county or school district income tax.
(Ord. 2015-110, passed 11-9-2015)