U.S. Tax Court Places $6B Tax Liability on Coca-Cola (KO)

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Go back to U.S. Tax Court Places $6B Tax Liability on Coca-Cola (KO)

U.S. Tax Court Enters Decision in Ongoing Dispute Between The Coca-Cola Company and the U.S. Internal Revenue Service

August 2, 2024 9:25 AM EDT

Coca-Cola to Move Forward with Appeal

ATLANTA--(BUSINESS WIRE)-- The U.S. Tax Court today completed the next step in the legal process by entering a decision in the ongoing tax case between The Coca-Cola Company and the U.S. Internal Revenue Service. The decision reflects a liability of approximately $2.7 billion. With applicable interest, the total amount is anticipated to be approximately $6.0 billion.

Coca-Cola strongly believes the IRS and the Tax Court misinterpreted and misapplied the applicable regulations involved in the case and will vigorously defend its position on... More