Dayton Releases Tax Returns
On Friday, Governor Mark Dayton released his 2011 federal and state tax returns, for which he had received filing extensions. Governor Dayton reported federal taxable income of $264,532. He paid $65,378 in federal income taxes, for an effective federal tax rate of 25%.
As far as state taxes go, Governor Dayton reported State of Minnesota taxable income of $336,520. He paid state income taxes of $32,426, for an effective tax rate of 9.6%.