CHICAGO (Oct. 17, 2017) — Gov. Bruce Rauner 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.
The Governor released his full tax return at the end of the day, on Tuesday, but in an email to the media, his office relased this summary of his returns.
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