Gov. Mark Dayton had $343,234 in income last year, with his earnings from capital gains and dividends exceeding the income from his state salary of $116,125.
Dayton received $92,381 from a family trust, more than double what he received from the Bruce Dayton trust the year before. He also earned $130,291 from capital gains, down from the $190,998 he received in 2011. According to his tax return, Dayton donated $1,000 to charity.
For 2012, Dayton 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. Dayton, whose family grew wealthy from its eponymous chain of department stories, successfully pushed to increase state income taxes on the highest earners this year.
Under the new law, single filers would pay 9.85 percent on taxable earnings above $150,001. If his 2012 taxable income held steady, Dayton would pay $32,000 in state taxes for 2013 — a $7,000 increase.
Dayton has released his tax returns every year since 2010.
Several of the Republicans running against Dayton previously agreed 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 Republican gubernatorial candidates Jeff Johnson, Scott Honour and Kurt Zellers. Johnson said he planned to release his late Tuesday night. □