Coca-Cola to Pay $6 Billion in Back Taxes

Tax Court Completes Legal Process

ATLANTA, November 9, 2023 -- BUSINESS WIRE -- On November 7, 2023, the Tax Court issued a supplemental opinion in The Coca-Cola Company v. Commissioner, T.C. Memo. 2023-121, completing the next step in the legal process.

The Tax Court's decision follows a trial that took place in February 2023. In its opinion, the Tax Court largely rejected The Coca-Cola Company's arguments and held that the company was liable for the majority of the taxes and interest at issue.

The Coca-Cola Company has stated that it intends to appeal the Tax Court's decision.

Conclusion

The Tax Court's decision is a significant development in the ongoing dispute between The Coca-Cola Company and the United States Internal Revenue Service. The company's decision to appeal the decision means that the legal battle is likely to continue for some time.