When the taxable income of a resident of the City of Medina is subject to a municipal income tax in another municipality on the same income taxable under this chapter, effective January 1, 2004, such resident shall be allowed a credit of the amount of income tax paid on such taxable income to such other municipality, equal to twenty-five percent (25%) of the City of Medina income tax in excess of 0.50 percent. For the purposes of this section, “taxable income” includes the distributive share of net profits of a resident partner or owner of an unincorporated business entity. (Ord. 114-03. Passed 7-28-03.)