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What will be the outcome of Coca-Cola's appeal in the $6 billion tax court ruling by December 31, 2024?
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Resolution / Starting Odds
Appeal Successful • 25%
Appeal Unsuccessful • 25%
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Eleventh Circuit Court of Appeals ruling
Story
Coca-Cola to Appeal $6 Billion Tax Court Ruling in 17-Year Dispute
Aug 2, 2024, 03:17 PM
The U.S. Tax Court has ruled that The Coca-Cola Company owes $6 billion in back taxes and interest to the Internal Revenue Service (IRS). The dispute centers on Coca-Cola's accounting practices for its foreign income between 2007 and 2009. Coca-Cola plans to appeal the decision and has 90 days to file a notice of appeal. While the appeal is pending, the company will pay the agreed-upon liability and interest. The case, which dates back 17 years, will be taken to the Eleventh Circuit Court of Appeals, where Coca-Cola intends to vigorously defend its position.
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Coca-Cola wins appeal • 25%
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