Tax-break review could affect N.C.
Tuesday, February 28th, 2006
By Chris Fitzsimon
Justices examining ruling that incentives violate Constitution
KERRY HALL
Khall@charlotteobserver.com
The state’s ability to use tax credits to lure new companies will be at stake this week when the U.S. Supreme Court hears arguments over whether such economic incentives are constitutional.
The high court’s ruling ultimately could impact N.C. projects, such as the Dell computer plant in Forsyth County, which received roughly $242 million in state tax breaks.
The case stems from an Ohio court case, known as DaimlerChrysler v. Cuno, where a Cincinnati federal appeals court struck down Ohio’s use of investment tax breaks saying they "hinder free trade among the states."
Ohio had given the automaker $281 million in tax credits in exchange for creating thousands of jobs and investing $1.2 billion in a Jeep plant. The assembly plant opened in 2001 and has about 3,800 workers. (more…)
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