North Carolina Supreme Court Debates Tribunal’s Power in Philip Morris Tax Deduction Case
Raleigh, North Carolina — In a recent session of the North Carolina Supreme Court, justices expressed skepticism regarding the authority of the state’s executive branch tribunal, specifically whether it could adjudicate constitutional challenges against statutory decisions. This case has caught significant attention due to its potential implications on state power dynamics and tax law interpretations. The controversy centers on Philip Morris USA Inc., a major tobacco company, which is disputing the state’s denial of its tax deduction claims related to loans made to an affiliate. The denial was based on current statutes, but the company … Read more