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City. The amount of the credit shall not exceed the tax liability arising under <br />this chapter with respect to the sale of those products. <br />E. Credit for persons that manufacture products in the City using ingredients <br />they extract. Persons taxable under the manufacturing classification with <br />respect to manufacturing products in this City shall be allowed a credit against <br />those taxes for any eligible gross receipts tax paid with respect to extracting <br />the ingredients of the products manufactured in the City. The amount of the <br />credit shall not exceed the tax liability arising under this chapter with respect <br />to the manufacturing of those products. <br />F. Credit for persons that sell within the City products that they print, or publish <br />and print Persons taxable i nder the retailing or wholesaling classification <br />ur-r <br />with respect to selling products in this City shall be allowed a credit against <br />those taxes for any eligible gross receipts taxes pairs with respect to the <br />printing, or the printing and publishing, of the products sold within the City. <br />.075 Deductions to prevent multiple taxation of manufacturing activities and prior <br />to January 1, 2008, transactions involving more than one city with an eligible <br />gross receipts tax. <br />A. Amounts subject to an eligible gross receipts tax in another city that also <br />maintains nexus over the same activity. For taxes due prior to January 1, <br />2008, a taxpayer that is subject to an eligible gross receipts tax on the same <br />activity in more than one jurisdiction may be entitled to a deduction as follows: <br />1. A taxpayer that has paid an eligible gross receipts tax, with respect to a <br />sale of goods or services, to a jurisdiction in which the goods are <br />delivered or the services are provided may deduct an amount equal to <br />the gross receipts used to measure that tax from the measure of the tax <br />owed to the City. <br />2. Notwithstanding the above, a person that is subject to an eligible gross <br />receipts tax in more than one jurisdiction on the gross income derived <br />from intangibles such as royalties, trademarks, patents, or goodwill shall <br />assign those gross receipts to the jurisdiction where the person is <br />domiciled (its headquarters is located). <br />3. A taxpayer that has paid an eligible gross receipts tax on the privilege of <br />accepting or executing a contract with another city may deduct an <br />amount equal to the contract price used to measure the tax due to the <br />other city from the measure of the tax owed to the City. <br />B Person manufacturing products within and without. A person manufacturing <br />products within the City using products manufactured by the same person <br />outside the City may deduct from the measure of the manufacturing tax the <br />value of products manufactured outside the City and included in the measure <br />of an eligible gross receipts tax paid to the other jurisdiction with respect to <br />manufacturing such products. <br />24 Draft B&O Ordinance <br />Page 16 of 23 <br />