A billionaire heir to the Hyatt hotel fortune, the governor and Illinois first lady M.K. Pritzker reported $5,143,972 in adjusted gross income last year. Of that, $2,201,946 was taxable.
Gov. J.B. Pritzker and Illinois first lady M.K. Pritzker reported earning a little over $5.1 million in adjusted gross income last year — but after deductions only a little over $2.2 million of it was taxable.
That’s according to partial 2020 state and federal tax returns released Friday by the first-term governor’s campaign staff.
A billionaire heir to the Hyatt hotel fortune, the governor and his wife reported $5,143,972 in adjusted gross income last year. Of that, $2,201,946 of it was taxable. On their Illinois tax returns, the Pritzkers listed their total income after accounting for federally tax-exempt interest as $5,190,528.
The Pritzkers paid nearly $760,000 in taxes in 2020 — $230,643 to Illinois and $529,104 in federal taxes, according to documents released by Pritzker’s campaign.
The governor’s net worth is $3.6 billion, according to Forbes. The business magazine ranks Pritzker number 318 on its list of 400 wealthiest Americans for 2021.
Pritzker’s campaign said trusts benefiting Pritzker paid $16.3 million in Illinois taxes and $69.6 million in federal taxes in 2020. The governor and his wife reported making $2.8 million in personal charitable donations last year, his campaign said.
Pritzker’s taxable income has dropped since he’s entered public life.
In 2017, Pritzker reported nearly $34. 5 million in taxable income and paid $15.6 million in taxes — $14.8 million to the federal government and $811,816 to the state — at a rate of 36.2%.
from Chicago Sun-Times - All https://ift.tt/3BLr0tK
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