Gov. Dayton voluntarily released his income tax return today. He reported earning Dayton earned $671,724 in 2010 – most of it from selling stocks. His tax return shows Dayton paid $99,690 in federal taxes and $50,701 thousand in state taxes.
Dayton reported selling $407,000 worth of Target Corporation stock. Dayton is an heir to the Dayton Hudson Department Store chain that eventually became Target.
Target’s executives contributed to Republican Tom Emmer, Dayton’s chief opponent in the 2010 election. Target also gave money to MN Forward, an independent group that worked to defeat Dayton.
Dayton reported about $8,100 in contributions to charity including donations to Planned Parenthood, MinnPost, Page Academy and Esalen Institute.
Dayton spent $3.9 million of his own money to win the race for governor. Unlike when he was a U.S. Senator, Dayton has said he will collect a salary as governor.
UPDATE: Dayton’s spokeswoman Katharine Tinucci made it clear that Dayton’s sale of Target stock had nothing to do with Target’s donation to MN Forward.
“He did not sell his stock for political reasons,” said Tinucci. “He sold it for money.”
Here’s the full return.