(a) Except as provided in division (b) of this section, if tax or withholding is paid to another municipal corporation on income or wages, and if the City imposes or assesses a tax on that income or wages after the time period allowed for a refund of the tax or withholding paid to the first municipal corporation, the City shall allow a nonrefundable credit, against the tax or withholding that is due with respect to such income or wages, equal to the tax or withholding paid to the first municipal corporation with respect to such income or wages.
(1) If the tax rate in the City is less than the tax rate in the other municipal corporation, then the credit described in division (a) of this section shall be calculated using the tax rate in effect in the City.
(2) If the tax rate in the City is greater than the tax rate in the other municipal corporation, the tax due in excess of the credit afforded is to be paid to the City, along with any penalty and interest accruing thereto during the period of nonpayment.
(b) Nothing in this section permits any credit carry-forward.
(Ord. 216-15. Passed 10-5-15.)