* From the governor’s campaign…
Attached are the state and federal tax return summaries for JB and MK Pritzker for 2019.
With the Fair Tax in place, JB and MK Pritzker and trusts benefitting JB Pritzker would have paid approximately $10.5 million in Illinois taxes, an additional $3.7 million over what was due this year.
According to the information provided by the trustees, in 2019, trusts benefitting JB Pritzker paid $6.7 million in Illinois taxes at a rate of 6.45% and $33 million in federal taxes.
JB and MK Pritzker made $1.1 million in personal charitable donations last year.
They never disclose their trust income tax returns, just summaries of their personal returns. Click here.
The records show the Pritzker and his wife, M.K., had $2.4 million in state taxable income in 2019, down from nearly $4.4 million in 2018 and nearly $55 million in 2017. The Pritzkers personally owed $118,255 in state taxes and $419,853 to the federal government in 2018, according to their returns.
But the top pages of the federal and state tax returns released by the campaign don’t paint a full picture of the couple’s vast wealth, much of which is held in domestic and offshore trusts. The trusts benefiting J.B. Pritzker, many of which were set up in the Bahamas by his grandfather, paid $6.7 million in Illinois taxes at a rate of 6.45% and $33 million in federal taxes in 2019, according to the governor’s campaign. […]
The governor also has said the rules governing his family trusts don’t permit them to be placed in a blind trust. He pledged to relinquish any decision-making power in those trusts, which he has not identified by name or location, and has said he doesn’t receive reports on their performance.