North Carolina Supreme Court Reverses State’s Tax Win On Tobacco Export Credits

( December 18, 2024, 11:03 AM EST) -- RALEIGH, N.C. — The North Carolina Supreme Court reversed a lower court’s grant of summary judgment against Philip Morris USA Inc. (PM) and in favor of the state’s Department of Revenue on a dispute over how much credit generated on tobacco exports PM is entitled to carry forward in future tax years....