(A) Credit for tax paid to another municipality or to a joint economic development district.
(1) Where a resident of Tipp City is subject to a municipal income tax in another municipality or in a joint economic development district, they shall not pay a total municipal income tax on the same income greater than the tax imposed at a higher rate.
(2) Every taxpayer who resides in the city but receives net profits, salaries, wages, other compensation, and other income from a resident or nonresident business entity or association of which they are a partner or owner, for work done or services performed or rendered outside of the city, if it is made to appear that they or such business entity has paid a municipal or a joint economic development district income tax on or with respect to the same income taxable under this subchapter to another municipality or to a joint economic development district, shall be allowed a credit against the tax imposed by this subchapter in the amount so paid by them, in their behalf, or by such business entity, to the other municipality or to a joint economic development district. In no event, however, shall any municipal income tax or any joint economic development district income tax to the extent paid to another municipality or to a 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, the credit shall not exceed the tax assessed by this subchapter on income earned in such other municipality or municipalities or joint economic development district(s) where the tax is paid.
(3) A claim for refund or credit under this section shall be made in such a manner as the Tax Administrator may, by regulation, provide.
(B) Requirements for joint economic development districts. Specific provisions of this subchapter may be modified as they apply to joint economic development districts if the modifications are passed by Council in an ordinance which either specifically approves a joint economic development district contract or specifically amends this subchapter.
(Ord. 4-13, passed 2-4-2013)