(a) When the income of a resident which is taxable under this chapter is subject to a municipal income tax in another municipality, such resident shall be allowed a credit of the amount of income tax paid on such taxable income to such other municipality, equal to sixty percent (60%) of the amount obtained by multiplying the lower of the tax rates of such other municipality or of the Village by the taxable income earned in, or attributable to, the municipality of employment or business activity.
But, in any event, such credit shall not be applied to a rate in excess of one and one-half percent (1.5%) of the taxable income earned in or attributable to the municipality of employment or business activity. For purposes of this section, taxable income shall include the distributive share of net profits of a resident partner or owner of an unincorporated business entity.
(Ord. 1985-17. Passed 6-12-85.)
(b) A refund or credit claim shall be made on a form prescribed by the Administrator.
(Ord. 1982-37. Passed 8-11-82.)
(Ord. 1982-37. Passed 8-11-82.)