Billionaire Gov. J.B. Pritzker and wife M.K. reported $18.5 million in state taxable income last year, the most they’ve earned since 2017.
Gov. J.B. Pritzker and wife M.K. reported $18.5 million in state taxable income last year, more than three times what they reported in 2020 and the most they’ve earned since 2017, according to tax returns released Friday.
“Some trusts are required to give distributions every year and in some years they did better, some years they did worse,” Pritzker campaign spokeswoman Eliza Glezer said when asked about the fluctuations in income. Much of Pritzker’s wealth is held in domestic and offshore trusts, many of which were set up in the Bahamas by his grandfather. Trusts benefiting the governor paid $14.6 million in state taxes and $68.6 million in federal taxes last year, according to his campaign.
“Your tax return actually doesn’t tell people what you have an ownership interest in and so on. ... I’m revealing vastly more in my statement of economic interest than is required,” he said. The Better Government Association has documented some overlap between investments held in the trusts and companies with state contracts.
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