Source: Travis Fain, WRAL, 5/15/19

Cigarette maker Reynolds American would get a $4 million tax cut from language added Wednesday to a broader tax bill moving through the Senate. The change would protect Reynolds, and potentially other businesses with complex holding company structures, from some double taxation baked into the state's franchise tax, Sen. Paul Newton, R-Cabarrus, said. "We never intended for the franchise tax to happen twice," Newton said.

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