Resident individuals of the Village who are required to pay and do pay tax to another municipality on salaries, wages, commissions and other compensation for work done or services performed outside the Village or net profits from businesses, professions or other activities conducted outside the Village, may claim a credit of the amount of the tax paid by them or on their behalf to such other municipality. The credit shall not exceed one percent (1%) on such income earned in such other municipality where such tax is paid and, if the municipality is at a rate lower than one percent (1%), the credit shall not exceed the amount paid to that municipality at that municipality's tax rate. For the purpose of this section taxable income shall include the distributive share of net profits of a resident partner's or owner's of an unincorporated business entity. A return must be filed for the purpose of claiming such credit or allowance, together with such evidence of the payment of similar tax to the municipality in which such resident has a source of income as the Tax Clerk may require.
(Ord. 2018-01. Passed 2-19-18.)