What the state and local tax men giveth can they take away?
Facebook, which received millions in tax breaks to build a huge data center in Western North Carolina, is now involved in a growing property tax dispute in Oregon.
The Associated Press reports that the promise of lucrative tax breaks helped persuade Facebook to build a data center in one of Oregon’s most economically depressed counties.
Now, the state and the social media giant are in a dispute over how much Facebook may owe in property taxes, and the social networking giant fears it could be taxed on intangible assets like the value of its powerful brand.
Facebook has said the state’s action has the potential to rewrite an economic development deal it cut with Crook County, but nobody seems to know for sure whether the company is overreacting or it’s truly facing a tax surprise.
After a public kerfuffle last week, Facebook and state officials have tightened their lips. They say they’re researching the complicated tax laws involved and won’t have more to say until they wade through them.
Facebook recently announced plans to build additional facilities in North Carolina as well as a data center in Sweden near the Arctic Circle.
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