Coca-Cola Says Disagrees With Actions Of IRS And Latest Decision By U.S. Tax Court

(RTTNews) - Coca-Cola Co. (KO) said it disagreed with the actions of the Internal Revenue Service or IRS and the latest decision by the U.S. Tax Court.

Although the company has a different perspective on the court's interpretation of the facts and law in this case, the company is content to progress toward the conclusion of the Tax Court case, allowing the company to proceed with an appeal where it can present its arguments and staunchly uphold the company's stance, Coca-Cola said in a statement.

This includes the company's belief that it is unconstitutional to face retroactive tax liability based on the IRS' use of a calculation methodology that was different from what was long agreed upon and approved in audits for more than a decade.