(A) Where a resident of the City of Richwood is subject to a municipal income tax in another municipality, he or she shall not pay a total municipal income tax on the same income greater than the tax imposed at the highest rate.
(B) Every individual taxpayer who resides in the City but receives net profits, salaries, income, wages, commissions, other personal service compensation or a distributive share of net profits from a resident or nonresident unincorporated business entity or association of which he is a partner or owner, for work done or services performed or rendered outside the City, if it is made to appear that he (or she) 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, shall be allowed a credit against the tax imposed by this chapter in the amount so paid by him or her, in his or her behalf, or by such business entity, to the other municipality; provided however, that the credit allowed hereunder shall not exceed one and three quarters percent (1.75%) of the taxable income. In no event, however, shall any municipal income tax to the extent paid to another municipality and allowed as a credit hereunder be deductible in computing the net profit of such taxpayer or such business entity.
(C) A claim for refund or credit under this section shall be made in such manner as the Administrator may by regulation provide.
(D) No credit shall be given unless the taxpayer claims such credit on his final tax return or other form prescribed by the Tax Administrator, and presents such evidence as W-2 form(s) of the payment of a similar tax to another municipality, as the Administrator may require.
(E) The Administrator, or any duly authorized agent or employee, may exchange information with the Administrator or his authorized agent or employees of other taxing jurisdictions for the purpose of verifying any claim for credit by the City of Richwood residents, or for the purpose of verifying any claims for credit for taxes paid to the City of Richwood by residents of such other taxing jurisdictions, and may enter into agreements for such purpose.
(Ord. 09-04-15. Passed 11-9-15.)