DOJ Urges Coca-Cola Court Against Relying on 3M Tax Dispute Win

The Eleventh Circuit shouldn’t use 3M Co.'s recent tax case victory to give Coca-Cola Co. a win in the company’s transfer pricing dispute with the IRS, the Department of Justice argued for the tax agency in a new filing.

Coca-Cola has argued in filings with the court and financial disclosures that 3M’s October win in the US Court of Appeals for the Eighth Circuit bolsters its case against the IRS.

The beverage giant had to pay $6 billion in unpaid tax plus interest after losing in US Tax Court and could be on the hook for an additional $14 billion ...