D.C. Mun. Regs. tit. 9, r. 9-114

Current through Register Vol. 71, No. 36, September 6, 2024

Rule 9-114 - CREDITS FOR INDIVIDUAL INCOME TAX PAID TO OTHER JURISDICTIONS AND CAMPAIGN CONTRIBUTIONS

114.1

Any resident claiming credit on his or her individual income tax return, Form D-40, for income tax required to be paid for the taxable year to another state, territory or possession of the United States, or political subdivision thereof on income attributable thereto, shall submit with Form D-40 the following information:

(a) A copy of the income tax return required to be filed with the other state, territory or political subdivision; and

(b) If requested, proof of payment of the income tax paid.

114.2

Treatment of the credit as it relates to income from intangible property (dividends, interest, etc.) shall be afforded as follows:

(a) Credit shall not be allowed for income tax paid to another jurisdiction on income from intangible property whose source is in the District;

(b) If the taxpayer is domiciled in the District but required to pay a tax to another jurisdiction on income from intangible property derived from sources within that jurisdiction, the credit shall be allowed; and

(c) A statutory resident of the District domiciled outside the District and who is required to pay a tax to his or her state of domicile on income from intangible property from jurisdictions other than the District shall be allowed a credit.

114.3

For the purpose of establishing the amount of the political campaign contribution credit to be allowed under the Act, any individual claiming the credit shall submit the information on a form prescribed by the Deputy Chief Financial Officer.

114.4

The political campaign contribution credit shall not exceed the amount of any individual's District income tax liability.

D.C. Mun. Regs. tit. 9, r. 9-114

Commissioners' Order 56-1431 effective July 24, 1956, 16 DCRR § 305.8; as amended by Regulation No. 74-43 effective December 27, 1974: by Final Rulemaking published at 30 DCR 1255, 1256 (March 18, 1983), and by Final Rulemaking published at 30 DCR 1922, 1923 (April 29, 1983), designating §§ 114.2 and 114.3 as 114.3 and 114.4 respectively