Philip Morris , once one of the biggest employers and taxpayers in Cabarrus County, is suddenly in line to get more than $11 million from the state nearly 16 years after it abruptly closed its Concord cigarette plant.
That’s all thanks to a recent N.C. Business Court case involving taxes. Specifically, export tax credits.
The dispute between the N.C. Department of Revenue and Philip Morris is over a decade old. It centered on the technical issue of whether the company could carry over millions of dollars in export tax credits to subsequent years…