EXAMPLE:
Genoa tax due on $10,000.00 is 10,000 x .015 = $150.00
Wages were taxed by Toledo,
therefore a credit can be taken of 10,000.00 x .0075 = $75.00
TAXES DUE TO GENOA – $75.00
If the wages of 10,000 were taxed at 1%, then:
Genoa Tax | $150.00 | |
Credit of .005 | $50.00 | |
TAXES DUE GENOA | $100.00 |
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