Sarah and Todd Palin release income tax returns

Written By Sun-Times Wire Posted: 10/03/2008, 05:36pm

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MCCAIN: Palins Release Tax Returns And Financial Disclosure

All – Please see below.

Palins Release Tax Returns And Financial Disclosure

For Immediate Release

ARLINGTON, VA — Today, the McCain-Palin campaign released Governor and Todd Palin’s tax returns for 2006 and 2007. The Palins’ tax returns show that they paid $36,682 in federal taxes for 2006 and 2007. In the past two years, Governor and Todd Palin have contributed $8,205 to charitable causes. Below please find summary information about the Palins’ 2006 and 2007 tax returns.

The McCain-Palin campaign also released Governor and Todd Palin’s Public Financial Disclosure Report.

To view the relevant documents, please see: http://www.johnmccain.com/palinfinancial

SUMMARY OF TAX RETURNS

Taxes Paid:

For 2006, the Palins paid $11,944 (LINE 63) in total taxes on gross income of $127,869 (LINE 37), which is a 9.3% tax rate.

For 2007, the Palins paid $24,738 (LINE 63) in total taxes on gross income of $166,080 (LINE 37), which is a 14.9% tax rate.

Charitable Contributions:

2006

In 2006, Sarah and Todd Palin donated $4,250 to charity in cash/check donations and $630 in non-cash/check donations, for a total of $4,880. This is 3.3% of their adjusted gross income.

2007

In 2007, Sarah and Todd Palin donated $2,500 to charity in cash/check donations and $825 in non-cash/check donations, for a total of $3,325. This is 1.5% of their adjusted gross income.

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