(a) When the taxable income of a resident of the Village is subject to a municipal income tax in another municipality or Joint Economic Development District on the same income taxable under this chapter, such resident shall be allowed a credit of the amount of income tax paid on such taxable income to such other municipality or Joint Economic Development District. The credit shall be equal to 100% of the amount obtained by multiplying the lower of the tax rate of such other municipality or Joint Economic Development District, or of the Village, by the taxable income earned in or attributable to the municipality of employment or business activity.
(b) A claim for credit or refund under this section shall be made in such manner as the Administrator may by regulation provide. In the event such Village resident fails, neglects or refuses to file an annual return or declaration on the form prescribed by the Administrator, he or she shall not be entitled to such credit or refund and shall be considered in violation of this chapter for failure to file a return.
(Ord. 2007-23. Passed 6-19-07.)