Tax Court Determines $2.7 Billion Deficiency Against Coca-Cola

THE COCA-COLA COMPANY AND SUBSIDIARIES,
Petitioner,
v.
COMMISSIONER OF INTERNAL REVENUE,
Respondent.

UNITED STATES TAX COURT

Judge Albert G. Lauber

DECISION

Pursuant to the opinions of the Court filed December 14, 2017; November 18, 2020; and November 8, 2023, it is

ORDERED AND DECIDED: That there are deficiencies in income tax due from petitioner for the 2007, 2008, and 2009 taxable years in the amounts of $930,822,089; $865,202,130; and $932,972,594, respectively.

(Signed) Albert G. Lauber
Judge

Entered:

* * * * *

Entered and Served 08/02/24

The parties stipulate that the foregoing decision is in accordance with the opinions of the Court and respondent's computation and that the Court may enter this decision, without prejudice to the right of either party to contest the correctness of the decision.

The parties further stipulate that interest will be assessed as provided by law on the deficiencies due from petitioner.

It is further stipulated that, effective upon the entry of this decision by the Court, petitioner waives the restrictions contained in I.R.C. §6213(a) prohibiting assessment and collection of the deficiencies plus statutory interest until the decision of the Tax Court becomes final.

MARJORIE A. ROLLINSON
Chief Counsel
Internal Revenue Service

SANFORD W. STARK
Counsel for Petitioner
Gibson, Dunn & Crutcher LLP
Tax Court Bar No. SS0902

Date: July 31, 2024

By: HEATHER L. LAMPERT
Special Trial Attorney
(Strategic Litigation)
Tax Court Bar No. LH0357

Date: July 31, 2024