(a) If any provision, sentence, clause, section or part of this chapter is found to be unconstitutional, illegal or invalid, such unconstitutionality, illegality or invalidity shall affect only that particular sentence, clause, section or part of this chapter and shall not affect or impair any of the remaining provisions, sentences, clauses, sections or other parts of this chapter. It is hereby declared to be the intention of Council that this chapter would have been adopted had such unconstitutional, illegal or invalid provision, sentence, clause, section or part thereof had not been included herein.
(b) This chapter, all subsequent tax ordinances and all preceding tax ordinances, including all amendments thereto, shall continue to be effective insofar as the collection of taxes levied thereunder until all said taxes and all penalties and interest thereon are fully paid, and any and all suits and prosecutions for the collection of said taxes, penalties and interest, or for the punishment or violation of said ordinances shall have been fully terminated.
(c) The intention of the Council of the Village of New London is that this Chapter 181 of the Codified Ordinances shall be in full compliance with the provisions and express limitations of Revised Code Chapter 718; the Village of New London is levying this income tax in accordance with the limitations specified in Revised Code Chapter 718, and Revised Code Chapter 718 is hereby incorporated herein by reference as if fully rewritten. In the event of a clear conflict between this Chapter and Revised Code Chapter 718, the provisions of the Revised Code shall be followed.
(d) The tax levied under this Chapter 181 is an annual tax on the income of every person residing in or earning or receiving income in the Village and the tax shall be measured by "municipal taxable income, as defined in Revised Code Section 718.011(A)(1).
(e) The rate of the tax is as specified in Section 181.02.
(f) A reciprocity credit is allowed as specified in Section 181.04.
(g) The purpose of this tax is as specified in Section 181.09.
(h) Election to be Subject to ORC 718.80 to 718.95.
(1) The Village hereby adopts and incorporates herein by reference Sections 718.80 to 718.95 of the ORC for tax years beginning on or after January 1, 2018.
(2) A taxpayer, as defined below may elect to be subject to Sections 718.80 to 718.95 of the ORC in lieu of the provisions of this Ordinance.
(3) “Taxpayer” has the same meaning as in Section 718.01 of the ORC, except that “taxpayer” does not include natural persons or entities subject to the tax imposed under Chapter 5745 of the ORC. “Taxpayer” may include receivers, assignees, or trustees in bankruptcy when such persons are required to assume the role of a taxpayer.
(Ord. 2023-22. Passed 11-13-23.)