House votes to change tax law for data center
RALEIGH (AP) — The North Carolina House has tentatively approved changing the state's corporate tax laws to make them more attractive to billion-dollar investments.
The House voted 81-31 Tuesday in favor of a bill changed last week to push companies to counties where unemployment is high. A final House vote is scheduled Wednesday.
While the law makes no reference to a specific business, The Associated Press reported last week that the company targeted by state business recruiters is Apple Inc., which is considering a $1 billion data center.
The tax changes would alter how corporate income taxes are calculated by giving breaks to companies with large shares of their property in North Carolina but a relatively small share of U.S. sales in the state.
Another Senate vote would be needed due to House changes.
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