Gov. Rick Snyder and his wife, Sue, had just over $400,000 in income in 2015 and made charitable contributions of about $95,000, according to their personal federal income tax return, released to the Free Press.
Snyder itemized $373,749 in deductions, leaving a taxable income of just under $25,000. He paid an alternative minimum tax — imposed to make sure wealthy individuals with large deductions still pay some federal income tax — of $26,338, plus $4,851 in taxes on net investment income, for a total federal income tax bill of $31,189. Snyder had an effective tax rate of just under 8%.
Snyder's income and charitable giving numbers for 2015 are close to those reported in 2014, when the Snyders had income of just under $423,000 and gave about $104,000 to charity.
The normal deadline for filing personal income taxes is April 15, but Snyder has always released his return in the fall, having exercised his option to seek a filing deadline extension.
Most of Snyder's 2015 income — $260,751 — came in the form of dividends from investments, the return shows.
Snyder, a Republican, is a former venture capitalist and computer company executive. Though Snyder can accurately be described as a millionaire based on his investment holdings, his annual family income has not topped $1 million since 2011, his first year as Michigan governor, according to past tax returns.
Snyder reported receiving just under $108,000 in wage and salary income in 2015, presumably from his salary as governor.
Michigan's governor receives a salary of $159,300, according to the latest report from the State Officers Compensation Commission. It wasn't clear Monday why Snyder's reported wage and salary income was below that amount. Snyder pledged to take a $1 salary during his first year in office, in 2011. But officials say he has accepted his salary in subsequent years, while stepping up his charitable contributions.
Snyder, in 2015, also reported receiving $32,484 from sources such as rental income, royalties, partnerships and other companies, and trusts.
He reported a $3,000 loss in 2015, under capital gains income.
Snyder acknowledged the lead contamination of Flint's drinking water — a massive public health crisis that in many ways was expected to preoccupy the rest of his time as governor — around Oct. 1, 2015. A Snyder spokesman was not able to say Monday how much of the $94,959 Snyder gave to charity last year was Flint-related.
The Snyders reported income of about $395,000 in 2013, $626,000 in 2012, and $1.9 million in 2011, Snyder's first year as governor.