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Coca-Cola Taxes (sh.itjust.works)

submitted 3 months ago* (last edited 3 months ago) by ModerateImprovement@sh.itjust.works to c/whitepeopletwitter@sh.itjust.works

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https://mastodon.social/@MEActNOW/112956139620337300

News: https://www.forbes.com/sites/kellyphillipserb/2024/08/06/coca-cola-could-face-16-billion-irs-bill-after-its-tax-court-arguments-fall-flat/

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[-] someguy3@lemmy.world 14 points 3 months ago

But the IRS will come after meeee! /s

[-] todd_bonzalez@lemm.ee 14 points 3 months ago

In a Securities and Exchange Commission filing in 2015, Coca-Cola said it had been following the same method to calculate its taxable U.S. income from foreign affiliates for nearly 30 years.

So as tax laws changed, Coca-Cola just kept doing the same thing. Just go ahead and admit to fraud, I guess. Interesting strategy.

[-] frezik@midwest.social 7 points 3 months ago

What, do you expect the Coca-Cola corporation to hire accountants and lawyers to keep track of changes in tax law?

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[-] dudinax@programming.dev 12 points 3 months ago

Is this part of the pay off to Biden's IRS funding increase?

[-] acockworkorange@mander.xyz 10 points 3 months ago

Shorting their stock in 3, 2, …

[-] jjjalljs@ttrpg.network 8 points 3 months ago

Nail them to the wall.

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[-] DarkCloud@lemmy.world 5 points 3 months ago

They'll pay up... Pay up to the wealth defense industry.

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this post was submitted on 14 Aug 2024

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