195.21 DETERMINATION OF INCOME SUBJECT TO TAX.
   (a)   In the taxation of income which is subject to this municipal income tax, if the books and records of a taxpayer conducting a business or profession both within and without the boundaries of the city shall disclose with reasonable accuracy what portion of its net profit is attributable to that part of the business or profession conducted within the boundaries of the city, then only such portion shall be considered as having a taxable situs in the city for purposes of this tax. In the absence of such records, net profit from a business or profession conducted both within and without the boundaries of a municipal corporation shall be considered as having a taxable situs in this municipal corporation for purposes of municipal income taxation in the same proportion as the average ratio established under Ohio R.C. 718.02.
   (b)   In determining income subject to taxation, losses from the operation of a business or profession cannot be used to reduce wages from employment compensation.
(Ord. 2000-130. Passed 4-13-00.)