Gov. Mark Dayton returned Thursday to his prior practice of releasing his income tax returns, with last year’s form showing about $384,000 in earnings and about $105,000 in state and federal tax payments.
As a candidate in 2010 and throughout his first term, Dayton routinely released his tax information. He had yet to do so in a second and final term, but took the step as part of a coordinated effort by Democratic presidential candidate Hillary Clinton to draw attention to such disclosures and Republican rival Donald Trump’s reluctance to release his returns.
“Given that my candidate for president has released her tax returns, I have continued my long-standing practice of releasing my tax returns as well,” Dayton said in a written statement. “As a candidate for president, Mr. Trump has no excuse for not releasing his tax returns. The people of Minnesota and the nation should know how their public leaders earn a living.”
Dayton earned more than $380,000 in both 2014 and 2015. As governor, he makes $127,629 after successive raises the past two years. The bulk of his income came from investments, including capital gains and dividends from accounts established by his late father, Bruce Dayton.
Last year, Dayton paid $73,000 in federal taxes and nearly $33,000 in state taxes, an effective tax rate of 30 percent. Investment earnings are taxed at a lower rate than other income.
Dayton has previously drawn scrutiny for his level of charitable giving. In releasing his returns, he said he made $10,000 in contributions last year but didn’t report them to his tax preparer to claim as itemized deductions. He didn’t disclose the charities that received his gifts.