Coca-Cola Co. states it will pay $6 billion in back taxes and interest to the Internal Revenue Service while it appeals a federal tax court choice in a case dating back 17 years
ByKEN RITTER Associated Press
Coca-Cola Co. stated Friday it will pay $6 billion in back taxes and interest to the Internal Revenue Service while it appeals a last federal tax court choice in a case dating back 17 years.
The Atlanta drink giant stated it will continue to battle and thinks it will win the legal disagreement stemming from taxes and interest the IRS preserves the business owes from 2007, 2008 and2009
“The business looks forward to the chance to start the appellate procedure and, as part of that procedure, will pay the agreed-upon liability and interest,” it stated in a declaration. Coca-Cola representative Scott Leith decreased extra remark to The Associated Press.
U.S. Tax Court Judge Albert Lauber on Friday released a two-sentence choice and order ending his appearance at the case. The conflict reached court in December 2015, quickly after the business stated it alerted the IRS that it owed $3.3 bi