Currently, this tax is one percent (1%) tax on "Taxable" income which is shared evenly between the Municipality and Franklin Regional School District.
Effective Jan. 1, 2022, the EIT will increase to one and two-tenths percent (1.2%). Of this total, one percent (1%) will be collected by the Municipality. The school district's share of the taxes will not change.
Ordinance No. 1038-21: Revised EIT Ordinance