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 goes back over decade. It centered on the technical issue of whether the company could carry over millions of dollars in export tax credits to subsequent years…