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How Randy Boyd's company avoided paying millions in taxes using a 'double Irish' loophole

Dave Boucher, The Tennessean • Updated Jul 2, 2018 at 3:15 PM

A business founded by a Tennessee Republican gubernatorial candidate avoided paying millions in U.S. and international taxes thanks to a controversial corporate structure with a funny name.

The private company, Radio Systems Corporation, deployed a tax technique generally known as a "double Irish," according to two experts.

Used in the past by massive corporations such as Apple, Facebook and Microsoft, the structure creates something of a corporate shell game that allows businesses to avoid paying U.S. taxes — in some cases millions or even billions of dollars.

At the same time Radio Systems avoided paying some U.S. taxes, company founder and GOP gubernatorial contender Randy Boyd served Tennessee in a role designed to bring business and tax revenue into the state.

To read more about Boyd’s company, visit our partners at The Tennessean. 

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