Issue

Statutory construction—purpose and legislative intent—export credit allowed in a tax year—summary judgment improper

Summary

In a complex business case requiring the interpretation of N.C.G.S. § 105-130.45 (repealed effective 1 January 2018) regarding a taxpayer's yearly limit of $6,000,000 of export credit–a tax credit based on the number of cigarettes manufactured in the state for export in a given year–the trial court erred in allowing summary judgment in favor of the Department of Revenue, whose position was that the provision capped the export credit that could be generated in any tax year. Construing the pertinent language of the statute, the Supreme Court held that the $6,000,000 cap applied only to the amount of export credit that could be claimed in any tax year and did not limit a taxpayer's ability to generate credit in excess of that amount in any tax year, to carry forward as otherwise provided.

Summary from the North Carolina Reports digest (official subject index). Read the opinion →