On September 25, 2014

Shumlin tax filings show $10 million in assets

By Laura Krantz, VTDigger.org

Gov. Peter Shumlin released his 2013 tax return Friday, reporting $721,445 in gross income and total assets worth $10.3 million.

Shumlin’s 1040 IRS form shows most of his income comes from real estate he owns and rents. He reported $128,639 in wages and $349,091 in income from real estate, royalties, supplemental income and trusts.

The governor also reported earning $84,897 in dividends and $167,973 in capital gains.

Shumlin claimed his two daughters, Olivia and Rebecca, as dependents, listing himself as the head of household. Shumlin paid $120,000 in alimony to his ex-wife, Deborah Holway, last year, the return shows.

Shumlin owed $142,000 in taxes on an adjusted gross income of $601,445, the return shows. He paid $108,296 through withholding and quarterly tax payments and paid the IRS the remaining $35,087.

The governor’s campaign manager, Scott Coriell, also released a document showing Shumlin’s assets, which total $10,363,384.

They include 16 properties with a value of $3.8 million. Seven properties are in Brattleboro, four in Westminster, two in Putney and one in East Montpelier. He also listed a house, cabin and land in Cape Breton, Nova Scotia, and land on the island of Dominica.

Shumlin owns seven vehicles worth $128,300. They are a 2002 Volkswagen Passat, three Dodge trucks, a 1964 Porsche, a Grady-White boat and miscellaneous farm equipment.

The governor also has $2.2 million in investments in retirement funds, $3.3 million invested in equities/cash and $1 million in stock in Putney Student Travel, where he was co-director until he became governor.

The governor has a mortgage for various properties in Brattleboro worth $120,000.

None of the other candidates for governor — Republican Scott Milne, Libertarian Dan Feliciano, Pete Diamondstone of the Liberty Union Party, or independents Emily Peyton, Cris Ericson and Bernard Peters — have released their tax returns. Milne said he intends to release his next month.

By Laura Krantz, VTDigger.org

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