New York – Coca-Cola says it was notified by the IRS that it owes $3.3 billion more in federal taxes, as well as interest, for 2007 to 2009.
Subscribe to our Daily Roundup Email
The Atlanta-based company says in a regulatory filing Friday that it believe the assessments are without merit and plans to pursue “all administrative and judicial remedies necessary to resolve the matter.”
The maker of Sprite, Dasani, Powerade and other drinks says the disagreement is over how much of the money it makes from licensing products overseas should be considered be considered taxable income in the U.S.
Coca-Cola Co. says it was notified that a recommendation has been made to the IRS’s chief counsel that the matter be designated for litigation.
lol pay it you got enough, after confusing and lying to the public about diet products being worse then reg coke prod, i have no pity on you guys
Nebuch! And we just learned that the IRS is no longer taking checks in amounts greater the $99 million! The sorry people at Coca-Cola are going to have to cut 34 separate checks.
If companies don’t want to pay taxes in the country they sell products, they should be banned from selling the product in that country. Very simple, to me anyway.