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Dayton, Thompson release tax returns; Johnson to soon follow

Posted by: Rachel E. Stassen-Berger under Minnesota campaigns, Minnesota governor, Gov. Mark Dayton, Democrats, Republicans Updated: November 12, 2013 - 6:19 PM

Updated

Gov. Mark Dayton had $343,234 in income last year, with his earnings from capital gains and dividends from  exceeding his income from his state salary of $116,125 from the state.

The Democratic governor earned $92,381 from a family trust, more than doubling what he had received from the Bruce Dayton trust the year before, and $130,291 from capital gains. In 2011, he earned $190,998 from capital gains. He gave $1,000 in to charity, according to the return.

The scion to the Dayton department store fortune, who successfully pushed to increase taxes on upper income Minnesotans this year, paid $64,157 in federal income and $24,990 in state taxes. The governor's office said that his combined effective tax rate was 29.75 percent last year.

If next year Dayton brings in the taxable income he did in 2012, he would have to pay the higher state income tax rate the Legislature passed and he signed into law in 2013.

Dayton has released his tax returns every year since 2010.

Several of the Republicans running against Dayton have also made agreements to release their tax returns.

As of Tuesday afternoon, only Republican Dave Thompson had released his return to the Star Tribune.

According to Thompson's return, he and his wife earned $198,322 last year. The state senator from Lakeville said his family brought in income from his senate salary, Twin Cities Power LLC, Thompson's legal work and his wife's teaching income.

According to his federal return his family gave $20,465 to charity.

Thompson paid about $40,000 in total taxes last year.

The Star Tribune on Tuesday also requested tax return details from Republicans Jeff Johnson, Scott Honour and Kurt Zellers, who are running for governor, and will update this post if it receives those returns.

Republican gubernatorial candidate Jeff Johnson said late Tuesday that he would release his returns, minus information about his wife's income, to the Star Tribune quickly.

Dayton's tax return:

2012 MBD Fed State Returns Pw by Rachel E. Stassen-Berger

Thompson's tax return:

Thompson by Rachel E. Stassen-Berger

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