(a) Credit for Tax Paid to Other Municipality. Every individual taxpayer domiciled in the City of Xenia 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 one hundred percent (100%) of the amount obtained by multiplying the income, qualifying wages, commissions, net profits or other compensation subject to tax in the other municipality by the lower of the tax rate in such other municipality or the rate of one and one-half percent (1.5%).
(b) Credit for Tax Paid to a JEDD. The City shall grant a credit against its tax on income to a resident of the City who works in a joint economic development zone created under ORC 715.691 or a joint economic development district (JEDD) created under ORC 715.70, 715.71 or 715.72 to the same extent that it grants a credit against its tax on income to residents who are employed in another municipality, with the exception of the Xenia Township - City of Xenia JEDD-1 tax. Credit for taxes paid to the Xenia Township - City of Xenia JEDD-1 shall not exceed two and one-quarter percent (2.25%) of the income taxed by the Xenia Township - City of Xenia JEDD-1.
(Source: ORC 718.16)
(c) Limitation. 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 the 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.
(Ord. 15-33. Adopted 07/23/15; Ord. 2018-08. Adopted 02/22/18; Ord. 2020-10. Adopted 04/23/20)