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ModerateImprovement@sh.itjust.works to People Twitter@sh.itjust.works ·
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1 year ago

Coca-Cola Taxes

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Coca-Cola Taxes

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ModerateImprovement@sh.itjust.works to People Twitter@sh.itjust.works ·
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1 year ago
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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/

  • Brave Little Hitachi Wand@lemmy.world
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    1 year ago

    Fun fact, these back taxes are higher than the share value of the entire company (~$11bn market cap).

    • mynameisigglepiggle@lemmy.world
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      1 year ago

      But it’s only back taxes on profits we know about

      • Brave Little Hitachi Wand@lemmy.world
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        1 year ago

        Sure, it might be prudent to always assume any reported white collar crimes are at least one order of magnitude greater than we get to know. That said, I was really impressed with their stock ticker company description blurb where they strive to “honor God” in all their works.

        • StupidBrotherInLaw@lemmy.world
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          1 year ago

          Assuming they’re referring to the Christian God, a selfish, emotionally unstable mega toddler, their behavior would be appropriate.

    • SuspiciousCatThing@pawb.social
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      1 year ago

      Good. I hope it hurts.

    • explodicle@sh.itjust.works
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      1 year ago

      This sort of stuff is why the corporate veil needs to be abolished. If they’re not criminals, then they can buy insurance.

    • KevonLooney@lemm.ee
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      1 year ago

      Do people upvote these comments without checking anything? Does it sound reasonable for one of the largest companies in the world to be worth only $11 billion?

      The Coca-Cola Company is worth $296 billion. I don’t think they’ve been worth only $11 billion since the '80s.

      https://finance.yahoo.com/quote/KO/

      • Brave Little Hitachi Wand@lemmy.world
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        1 year ago

        I’m going to stop using this site, as it currently states a market cap of “11,091,895,682” dollars. Thanks for the correction.

        • KevonLooney@lemm.ee
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          1 year ago

          That’s a US bottling company that buys from the actual Coca-Cola Company.

          The company was formerly known as Coca-Cola Bottling Co. Consolidated and changed its name to Coca-Cola Consolidated, Inc. in January 2019.

          https://finance.yahoo.com/quote/COKE/profile/

          These bottling companies are the ones that beat people up in developing countries, not the actual manufacturer. They can be confusing.

          • Brave Little Hitachi Wand@lemmy.world
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            1 year ago

            You’ve got to be fucking kidding me.

            Well, I at least stand by my earlier point, that white collar crime is usually way worse than is ever reported.

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