Branstad, Hatch release tax returns to public Wednesday - KWWL - Eastern Iowa Breaking News, Weather, Closings

Branstad, Hatch release tax returns to public Wednesday

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Gov. Terry Branstad Gov. Terry Branstad
DES MOINES (AP) -

Gov. Terry Branstad earned $234,907 and is paying $28,298 in federal taxes for 2013.

The governor and his wife, Chris, are paying $6,235 in state taxes.

By releasing his tax returns Wednesday, Branstad continued a practice he's done annually as governor.

Branstad's governor salary totaled just over $127,000. He also earned more than $54,000 from the state's retirement pension fund from earlier service as governor, lieutenant governor and legislator.

Additional income of $22,000 is from capital gains earned on business investments. He also received $35,000 from an IRA following an uncle's death.

Branstad contributed more than $40,000 to charities.

He paid an effective tax rate of 12 percent.

His Democratic opponent, Sen. Jack Hatch, released documents Tuesday showing income of $468,591 from real estate development businesses and his state salary.

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