Coca-Cola Redux: The Problematic Absence of Comparables

Authors

• Reuven S. Avi-Yonah, University of Michigan Law SchoolFollow

Document Type

Article

Publication Date

8-2026

Abstract

On June 25 a three-judge panel of the Eleventh Circuit Court of Appeals heard oral arguments in Coca-Cola v. Commissioner. It is very hard to predict outcomes from oral arguments, but two of the judges asked questions that suggested they were open to accepting the taxpayer’s “bait and switch” argument. They also seemed receptive to the treaty argument. Interestingly, there was less focus on the taxpayer’s marketing intangibles argument, which I regard as the better one.

Comments

Reprinted with the permission of Tax Analysts.

Recommended Citation

Avi-Yonah, Reuven S. "Coca-Cola Redux: The Problematic Absence of Comparables." Tax Notes International 123, no. 6 (2026): 951-957.