Candidates for governor release 2009 tax returns

DES MOINES – Gov. Chet Culver and two GOP candidates for governor released 2009 tax return records or summaries Friday detailing their incomes and tax bills.

Culver and wife, Mari, reported a total income of $126,745in 2009. That included $117,668 in wage and salary income, along with a $7,500 capital gain from stock in the law firm where Mari Culver, a lawyer, works part-time.

The Culvers paid $13,905 in federal taxes and $334 in state taxes for 2009, according to the returns provided by the Culver campaign. The Culvers claimed four exemptions and $18,246 in deductions. Records show the

Culvers reported $2,749 in gifts to charity last year.

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

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 in October before launching his comeback run for governor.

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

Branstad campaign manager Jeff Boeyink said the candidate felt he should release a detailed summary of his 2009 tax return.

“Gov. Branstad has talked a lot about transparency in this campaign, and it was his opinion that when you're running for the office of governor, you need to hold yourself to a little higher standard when it comes to issues such as your personal tax return,” Boeyink said.

Copies of the multi-page return were made available for reporters to view at a briefing at campaign headquarters, although members of the media could not leave with copies.

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.

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.

The Vander Plaatses reported making $5,717 in charitable contributions last year.

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

Mortgage interest paid by the couple totaled $9,758 last year, and real estate taxes totaled $2,705.