California Gov. Gavin Newsum and his wife earned $ 1.7 million in 2019 in their first year as governor, about half a million dollars more than they had earned a year earlier, according to tax returns released by his campaign. published on Monday. state taxes. Their profits come mainly from Newsom’s wine and restaurant business, which he blindly trusts when he becomes governor. The return does not name each individual business, which makes it impossible to understand who has won and lost money. Reports show that Newsoms has donated about $ 100,000 to charity, four times what they gave the previous year, or about 6% of their revenue. Newsom, a Democrat facing elections to recall later this year, has pledged to release his tax returns every year he was elected in 201
California Gov. Gavin Newsum and his wife earned $ 1.7 million in 2019 in his first year as governor, about half a million dollars more than they had earned a year earlier, according to tax returns released by his campaign in Monday.
Newsoms paid about $ 712,000 in federal and state taxes. Their profits come mainly from Newsom’s wine and restaurant business, which he blindly trusts when he becomes governor. The return does not name each individual business, which makes it impossible to understand who has won and lost money. Reports show that Newsoms has donated about $ 100,000 to charity, four times what they gave the previous year, or about 6% of their income.
Newsom, a Democrat facing elections later this year, is committed to filing its tax returns every year he is elected in 2018. His rivals may also be forced to file their tax returns under the Newsom law, signed in 2019, requiring governor candidates to publicly announce their last five years of returns, although it is not clear how the law applies to recalls.
Newsoms usually receive an extension and file their declarations in October, campaign spokesman Nathan Click said. This means that they have not yet submitted their declarations for 2020, which will show how the family coped financially during the pandemic, when the Newsom administration set rules that stopped business and placed significant restrictions on restaurants and wineries.
Newsom has made $ 175,000 as governor, compared to his $ 151,000 salary as a lieutenant-governor, a job he has held for eight years. Jennifer Sibel Newsom, a documentary filmmaker, has made about $ 151,000 through her nonprofit, Representation, which studies gender representation in the media. She also earned about $ 50,000 through her production company Girls Club Entertainment and over $ 1,000 in residual payments from previous acting positions.
But most of the couple’s revenue – an additional $ 1.3 million – comes from passive sources, up from $ 775,000 in 2018. Newsom owns The PlumpJack Group, which includes a range of wineries and restaurants that are now managed by his sister and cousin. He placed them in a blind trust run by a family friend after he was elected, and the names of the individual farms are protected in tax returns. The couple has several other trusts and businesses.
Newsom has made an additional $ 39,000 for a children’s book that writes about dyslexia, a condition he had since childhood that can make it difficult to read. Newsoms earned $ 146 gross revenue from other counties through the blind trust of Siebel Newsom, although the earnings show they had no financial accounts or trusts in foreign countries.
The couple has four young children, and in 2019 the family moved into a home in a suburb of Sacramento. They lost nearly $ 250,000 after renting out their previous home in Marin County. Newsoms put the home up for sale for nearly $ 6 million in 2019, but is still renting it out, Click said. Newsum made $ 79,000 from the sale of a property in Napa, which is co-owned by his sister and father. They earned $ 3,000 on a Hawaiian property.
They paid about $ 69,000 in taxes for employees at their home. Click can’t immediately tell how many people work in the family.
Newsom’s campaign gave reporters about an hour to review tax returns on Monday, and reporters could not take pictures. The 2019 law, which requires applicants to release their declarations, says the secretary of state must publish edited versions of the declarations online for the public to see. Applicants must submit their declarations at least 98 days before the primary.
There is no primary in the recall election and Newsom is technically not a candidate. The secretary of state did not answer questions Monday about how he plans to enforce the law in the recall.
An election date has not yet been set. If the recall continues as expected, voters will be asked two questions: Should Newsom be removed from office and, if so, who will replace it? He cannot be a candidate nominated for the second question.
None of his Republican rivals’ campaigns immediately answered questions about when they would return.
Anthony Ramirez, a spokesman for businessman John Cox, said the campaign was reviewing the requirements of the new law. Cox ran against Newsom in 2018 and released only the front page of his tax returns.
Celebrity campaign Caitlin Jenner said the campaign would meet all the requirements for the election.
Former San Diego Mayor Kevin Folconer made his comeback during his first mayoral campaign, but the campaign did not immediately answer questions about whether and when it would make more recent returns.