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Coca-Cola may owe $3.3 billion in extra taxes

The IRS gave Coca-Cola notice with an SEC filing that the company could owe $3.3 billion in extra taxes due to an audit on foreign licensing.

Coca-Cola Post Strong Earnings

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. Coke said it followed the methodology for the licenses that had been outlined in a 1996 agreement with the IRS.

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. Coke said it followed the methodology for the licenses that had been outlined in a 1996 agreement with the IRS.