(A) Every individual taxpayer domiciled in the City of Toledo who is required to and does pay, or has acknowledged liability for, a municipal tax to another municipality on or measured by the same income, qualifying wages, commissions, net profits or other compensation taxable under this Chapter may claim a nonrefundable credit upon satisfactory evidence of the tax paid to the other municipality. Subject to division (C) of this Section, the credit shall not exceed the tax due the City of Toledo under this Chapter, or the tax due the municipality, whichever is less.
(B) The City of Toledo shall grant a credit against its tax on income to a resident of the City of Toledo who works in a joint economic development zone created under Section 715.70, 715.71, or 715.72 of the ORC to the same extent that it grants a credit against its tax on income to its residents who are employed in another municipal corporation.
(C) If the amount of tax withheld or paid to the other municipality is less than the amount of tax required to be withheld or paid to the other municipality, then for purposes of division (A) of this section, "the income, qualifying wages, commissions, net profits or other compensation" subject to tax in the other municipality shall be limited to the amount computed by dividing the tax withheld or paid to the other municipality by the tax rate for that municipality.
(D) The Commissioner of Taxation, 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 Toledo residents, or for the purpose of verifying any claims for credit for taxes paid to the Municipality by residents of such other taxing jurisdictions, and may enter into agreements for such purpose.
(Ord. 354-16. Passed 9-27-16.)