(A) Income tax that has been deposited with Newton Falls, but should have been deposited with another municipality, is allowable by Newton Falls as a refund but is subject to the three-year limitation on refunds.
(B) Income tax that was deposited with another municipality but should have been deposited with Newton Falls is subject to recovery by Newton Falls. If Newton Falls' tax on that income is imposed after the time period allowed for a refund of the tax or withholding paid to the other municipality, Newton Falls shall allow a nonrefundable credit against the tax or withholding Newton Falls claims is due with respect to such income or wages, equal to the tax or withholding paid to the first municipality with respect to such income or wages.
(C) If Newton Falls' tax rate is less than the tax rate in the other municipality, then the nonrefundable credit shall be calculated using Newton Falls' tax rate. However, if Newton Falls' tax rate is greater than the tax rate in the other municipality, the tax due in excess of the nonrefundable credit is to be paid to Newton Falls, along with any penalty and interest that accrued during the period of nonpayment.
(D) Nothing in this section permits any credit carryforward.
(Ord. 2015-14. Passed 11-16-15.)