Aviation Breaking News: Boeing's South Carolina City Tax to Fall as Production Rises

wochit news
July 12, 2013 AT 2:38 PM
The day before two separate incidents made news for the wrong reasons, Boeing's South Carolina 787 Dreamliner manufacturing plant got a large tax break when the North Charleston City Council voted to slash the current top rate used to calculate annual fees for businesses earning $250 million or more in half. The state's largest private employer, Boeing pays the city 0.1 percent on gross revenue from its local plant. The new rate applies to revenue that exceeds $7.5 billion a year. For revenue between $250 million and $7.5 billion, the rate was cut to 5 percent from 10 percent.