(a) When a resident of the Village is subject to a municipal income tax in another municipality or Joint Economic Development District he shall not pay a total municipal income tax on the same income greater than the tax imposed at the higher rate.
(b) Every individual taxpayer who resides in the Village but receives net profits, income, salaries, qualifying wages, commissions, other personal service compensation, or a distributive share of net profits from a resident or nonresident unincorporated business entity of which he is a partner or owner, for work done, or services performed or rendered outside of the Village, if it appears that he or such business entity has paid a municipal income tax on or with respect to the same income taxable under this Chapter to another municipality or Joint Economic Development District, shall be allowed a credit against the tax imposed by this Chapter in the amount so paid by him, in his behalf or by such business entity, to such other municipality or Joint Economic Development District. In no event, however, shall any such municipal income tax or Joint Economic Development District income tax to the extent paid to another municipality or Joint Economic Development District and allowed as a credit hereunder be deductible in computing the net profit of such taxpayer or such business entity. In addition, such credit shall not exceed the tax assessed by this Chapter on such income earned in such other municipality or municipalities or Joint Economic Development Districts where such tax is paid.
(c) In the event a Village resident is entitled to credit for taxes paid another municipality or Joint Economic Development District, such Village resident is required to file a return or form in such manner as the Administrator prescribes.
(Ord. 72-2015. Passed 11-17-15.)