(a) Commencing January 1, 2018 and expiring December 31, 2018, when the taxable income of a resident of the Village of Newburgh Heights is subject to a municipal income tax in another municipality on the same income taxable under this chapter, such resident shall be allowed a credit of the amount of income tax paid on such taxable income to such other municipality, equal to thirty percent (30%) of the amount obtained by multiplying the lower of the tax rate of such other municipality OR the tax rate of one percent (1%) by the taxable income earned in or attributable to the municipality of employment or business activity. For the purpose of this section, taxable income shall include the distributive share of net profits of a resident partner or owner of an unincorporated business entity.
(b) Commencing January 1, 2019, when the taxable income of a resident of the Village of Newburgh Heights is subject to a municipal income tax in another municipality on the same income taxable under this chapter, such resident shall be allowed a credit of the amount of income tax paid on such taxable income to such other municipality, equal to seventy-five percent (75%) of the amount obtained by multiplying the lower of the tax rate of such other municipality OR the tax rate of one percent (1%) by the taxable income earned in or attributable to the municipality of employment or business activity. For the purpose of this section, taxable income shall include the distributive share of net profits of a resident partner or owner of an unincorporated business entity.
(c) A claim for credit under this section shall be made in such manner as the Administrator may by regulation provide. In the event such Village of Newburgh Heights resident fails, neglects or refuses to file an annual return or declaration on the form prescribed by the Administrator, he/she shall not be entitled to such credit and shall be considered in violation of this chapter for failure to file a return.
(d) The Village of Newburgh Heights shall grant a credit against its tax on income to a resident of the Village of Newburgh Heights who works in a joint economic development zone created under Ohio R.C. Section 715.691 or a joint economic development district created under Ohio R.C. Section 715.70, 715.71, or 715.72 to the same extent that it grants a credit against its tax on income to its residents who are employed in another municipal corporation.
(e) 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 divisions (a) and (b) of this section, "the same income taxable under this chapter" 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.
(Ord. 2018-52. Passed 9-4-18.)