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Friday, April 19, 2024

Illinois Governor releases tax returns

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Governor Bruce Rauner

CHICAGO (Oct. 17, 2017) — Gov. Bruce Rauner today 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.

Rauner 2016 Tax Summary

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

Note: Gov. Rauner’s 2016 tax returns were attached to this press release, but the 4-page document will not be posted here.

Report submitted by Elizabeth Tomev for the Office of the Governor Bruce Rauner.

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