Montana Outsider, Washington Insider: Is Sheehy’s Company Dodging Taxes?
FOR IMMEDIATE RELEASE
Wednesday, November 29, 2023
CONTACT
rehm@mtdems.org
Sheehy’s company has done business in the Cayman Islands, a known “tax haven”
Helena, MT – While hardworking Montanans pay their fair share of taxes, multimillionaire Tim Sheehy may be maneuvering to avoid paying his. Sheehy’s company, Bridger Aerospace, has done business in the Cayman Islands and Delaware, both known for enabling companies to lower their tax bill.
Montana Outsider, Washington Insider: Is Tim Sheehy playing by different rules to fatten his wallet?
BACKGROUND: Sheehy merged his company, Bridger Aerospace, with a shell company in the Cayman Islands when the company went public. The Cayman Islands is a known “tax haven for wealthy individuals.”
In 2023, Sheehy brought Bridger Aerospace public by merging with “Jack Creek Investment Corp., a ‘blank check company’ incorporated in the Cayman Islands."
The Cayman Islands are a “tax haven” where companies can “avoid paying income, capital gains, or corporate taxes.”
Bridger Aerospace is incorporated in Delaware, and “corporations registered in Delaware can have their headquarters elsewhere in the U.S. and are exempt from state corporate income tax, and are drawn to the state due to their corporate secrecy laws.”
When pressed for answers, Sheehy’s campaign did not return requests to comment.
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