Coca-Cola Co. says it will pay $6 billion in back taxes and interest to the Internal Revenue Service while it appeals a federal tax court decision in a case dating back 17 years.

Coca-Cola Co. said Friday it will pay $6 billion in back taxes and interest to the Internal Revenue Service while it appeals a final federal tax court decision in a case dating back 17 years.

The Atlanta beverage giant said it will continue to fight and believes it will win the legal dispute stemming from taxes and interest the IRS maintains the company owes from 2007, 2008 and 2009.

U.S. Tax Court Judge Albert Lauber on Friday issued a two-sentence decision and order ending his look at the case. The dispute reached court in December 2015, shortly after the company said it notified the IRS that it owed $3.3 billion more in federal taxes and interest for those three years.

  • BigMacHole@lemm.ee
    821·
    3 months ago

    I’m a Fiscally Responsible Republican and this is HORRIBLE and SAD for Coca Cola! They should be able to KEEP that 6BILLION dollars! We should instead Tax HOMELESS PEOPLE and SINGLE MOTHERS instead!

    UNRELATED to this but THANK YOU REPUBLICANS for BLOCKING Child Tax Credits and Free School Lunches for Starving Children. We just DON’T have it in the Budget!