Coca-Cola Could Face $16 Billion IRS Bill After Its Tax Court Arguments Fall Flat
KOCoca-Cola(KO) Forbes·2024-08-06 18:30

Coca-Cola must pay nearly 2.7billioninbacktaxes.Togetherwithinterest,thetotalamountdueis2.7 billion in back taxes. Together with interest, the total amount due is 6.0 billion.(Photo by Jakub Porzycki/NurPhoto via Getty Images)NurPhoto via Getty ImagesLast week, after a U.S. Tax Court judge ruled against it in a transfer pricing case, Coca-Cola said it would pay $6 billion in taxes and accrued interest—and appeal the decision. But the stakes for both the company and the Internal Revenue Service (IRS) are even higher.In its 10-Q quarterly report filed with the Securit ...