A. Limitation.
1. Where a resident of village is subject to a municipal tax, on or measured by income, in another municipality either located within or without the state, he shall not pay a total municipal tax on the same income greater than the tax imposed at the higher rate.
B. Credits to residents.
Resident individuals of the village who are required to pay and do pay tax to another municipality on salaries, wages, commissions, or other compensation for work done or services performed in such other municipality or on net profits from businesses, professions, or other activities conducted in such other municipality may claim a credit of the amount of tax paid by them or on their behalf to such other municipality but only to the extent of 1.5% tax imposed by the ordinance on such compensation or net profits.
C. Method of applying for credit.
1. No credit will be given unless the taxpayer claims such on his final return or other form prescribed by the Commissioner and presents such evidence of the payment of a similar tax to another municipality, as the Commissioner may require.
2. A statement satisfactory to the Commissioner from the taxing authority of the municipality to which the taxes are paid that a village resident or his employer is paying the tax shall be considered as fulfilling the requirement of this article.