Coca-Cola Says IRS Demanding $3.3B in Taxes

Coca-Cola Co. says it has received notice from the Internal Revenue Service that it owes about $3.3 billion in extra taxes, plus interest. In a securities filing, the soft drink giant said Friday that it was fighting the huge bill. Coke said the dispute relates to how it reports income from foreign licensing of manufacturing, distribution, sale, marketing and promotion of products in overseas markets. The company said it had followed the methodology for the licenses outlined in a...

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