Several of New York City’s mayoral hopefuls released their tax returns or reported their 2012 income this week to the Wall Street Journal and New York Times. Below is a quick breakdown of what the candidates made in 2012 by sector, though the figures for Sal Albanese, Anthony Weiner (who hasn’t formally announced his candidacy), and Adolfo Carrión Jr. are actually total household income, including spouses’ earnings.
Billionaire Gristedes CEO John Catsimatidis, who has yet to release his tax returns, told the Wall Street Journal that they were “very complex”:
The wealthiest candidate, Republican John Catsimatidis, a billionaire businessman, described his tax return as “very complex” and said it won’t be filed, as he has in the past, until October. He said he planned to follow what Mayor Michael Bloomberg, another billionaire, has done when it comes to making his tax returns public. Mr. Bloomberg has provided highly redacted returns that give no sense of his total income.
“We will follow the Bloomberg model,” Mr. Catsimatidis said.
An aide to Mr. Catsimatidis said the candidate, unlike Mr. Bloomberg, would make public actual numbers on his returns. In an interview, Mr. Catsimatidis said he hasn’t made a final decision on that. He also said he wouldn’t promise to release his returns prior to the primary.
According to the Forbes 500, Catsimatidis’ net worth hovers around $3 billion, as of March 2013.
Check out how much the candidates who did release their tax returns to the papers paid the state and federal government as a percentage of their incomes:
Update: Wondering why Lhota, former MTA chairman, makes so much? Much of it comes from his lucrative retirement payout plan from Madison Square Garden, where he led as executive vice president until scooping up the MTA gig in 2011. Madison Square Garden, mind you, enjoys a $16 million annual tax credit that some New York lawmakers have considered nixing. Bill Thompson, another high-roller, makes his living at investment banking firm Siebert Brandford Shank, where he underwrites municipal bonds.