Former Governor Terry Branstad’s campaign staff will release his 2009 tax returns this afternoon. Branstad is seeking the 2010 Republican nomination for governor, as is Bob Vander Plaats. Vander Plaats this morning released his tax data, which you may read below.
SIOUX CITY – Republican gubernatorial candidate Bob Vander Plaats released a summary of his 2009 tax returns today.
Vander Plaats is president and owner of MVP Leadership, a Sioux City Sub-S corporation specializing in executive and strategic leadership. He and his wife Darla reported wages and salaries of $59,495, a capital gain of $125, individual retirement account distributions of $674, and royalties and S corporation income of $44,094 for a total income of $104,871. Their adjusted gross income was $103,562 following a student loan interest deduction of $1,309.
The Vander Plaatses, who have four sons, reported a total of six exemptions. Their returns list $25,011 of itemized deductions and $21,900 in exemptions, resulting in a taxable income of $56,651.
They claimed education credits of $2,262 and a child tax credit of $2,000. They paid $9,536 in state and local taxes, income $4,762 in state income tax, $2,705 in real estate taxes, $1,431 in new motor vehicle taxes and $638 in personal property or other taxes. They also paid $9,758 in mortgage interest and reported $5,717 in charitable contributions.
The couple paid $9,111 to the federal government, owed $3,382 and received a federal tax refund of $5,729. They paid $4,762 in state income taxes, owed $4,175 and a state refund of $587.
About O.Kay Henderson
Kay is a founding member of the Radio Iowa network newsroom. In 1994, she became the network’s news director. She’s a featured reporter and commentator on Iowa Public Television’s “Iowa Press,” and the 2002 recipient of the Shelley Award.
Recent Comments