Illinois Governor Bruce Rauner Releases His Tax Returns
I don't know which of these two things would be less fun--going to Wrigley Field last night to see the Cubs lose game 3 of the NLCS to the Dodgers, or releasing your tax returns for the world to see and/or judge. Yesterday, Governor Bruce Rauner did both.
Tuesday, Governor Rauner released his 2016 federal and state 1040s, reflecting income and tax rates, while detailing the Rauner family’s charitable and community giving last year.
In 2016, the Rauners paid more than $22.9 million in federal and state taxes on federal taxable income of $73 million and state taxable income of $91 million. Their federal effective tax rate on income was 26.59 percent. In addition, the Rauners and their family foundation made charitable contributions totaling more than $6.6 million.
Here's the 2016 tax summary from Governor Rauner's office:
- Total Income on Federal Return: $90,707,917
- Adjusted Gross Income on Federal Return: $90,441,458
- Taxable Income on Federal Return: $73,347,568
- Federal Income Taxes Paid: $19,504,022
- Federal Effective Tax Rate on Taxable Income: 26.6 percent
- Federal Effective Tax Rate on Adjusted Gross Income: 21.5 percent
- Illinois Taxable Income on State Return: $91,354,858
- Illinois Income Taxes Paid: $3,248,605