ST. PAUL, MN – Governor Mark Dayton released his 2013 tax returns today.
Governor Dayton reported Total Income in 2013 of $352,601 from his Governor’s salary, dividends, and capital gains. His Federal Taxable Income for 2013 was $315,346, on which he paid federal taxes of $76,008 and state taxes of $29,932. His effective tax rate was 30.05%.
(Note: The effective tax rate is lower than published federal and state income tax rates, because income from dividends and capital gains is taxed at a lower federal rate than earned income. Governor Dayton opposed that differential tax treatment of different sources of income, when he was a U.S. Senator.)