Vander Plaats, Branstad release 2009 income tax summaries

By Charlotte Eby

Des Moines Bureau

DES MOINES – Two GOP candidates for governor released  2009 tax return summaries Monday, detailing their incomes and tax bills.

Former Gov. Terry Branstad and his wife, Christine, paid $85,981 in federal taxes last year and $16,435 in state taxes. 

Total adjusted gross income was nearly $397,000 for the Branstads in 2009.

The Branstads reported just over $276,000 in salary from Des Moines University in 2009. Terry Branstad retired as president of the medical school before launching his comeback run for governor.           

Another $51,838 in income came from an Iowa Public Employees' Retirement System pension; $50,838 from rental real estate and partnerships. Branstad and Associates, LC, earned $21,586 from fees for serving on various corporate boards.

The Branstads reported $41,178 in gifts to charity last year, or more than 10 percent of their income.

Recipients included Sacred Heart Catholic Church in Boone, Boone County Hospital Association, Christ the King Catholic Church in Des Moines, Blank Park Zoo, Dowling Catholic High School in West Des Moines, Des Moines University and Living History Farms.

Meanwhile, GOP gubernatorial candidate Bob Vander Plaats and his wife, Darla, reported total income of nearly $105,000 for 2009, paying $3,382 in federal income taxes and $4,175 in Iowa income taxes.

Vander Plaats is the president and owner of MVP Leadership, a Sub-S corporation based in Sioux City that specializes in executive and strategic leadership.

The couple reported $44,094 in royalties and S corporation income, along with $59,495 in wages and salaries for Darla Vander Plaats last year. Also reported was a capital gain of $125 and  individual retirement account distributions of $674.

The couple, who have four sons, reported $25,011 in itemized deductions and $21,900 in exemptions, with a total taxable income of $56,651.

They claimed education credits of $2,262 and a child tax credit of $2,000.

The couple reported making $5,717 in charitable contributions last year. Mortgage interest paid by the couple totaled $9,758 last year, and real estate taxes totaled $2,705.