When Rahm Emanuel originally filed his 2009 Illinois tax return, he indicated he was only a “part-year resident’’ of the state that year, since he had moved to Washington D.C. to serve as President Obama’s chief of staff.
But after he decided to return to Chicago to run for mayor this fall -- and after several people challenged whether he was eligible to run based on the fact that he hadn’t lived in the city for a full-year prior to the Feb. 2 election -- he filed an amended return, according to the Chicago Sun-Times.
The documents also include the couples’s federal tax return, which shows their 2009 federal adjusted gross income was $227,784, including $57,947 in dividend and interest income, $16,274 in rental income and $4,229 in royalties.
The return also includes about $10,000 from sources in “various” countries.The state return includes an additional $80,648, listed as a “distributive share’’ from “a partnership, S corporation, trust or estate.’’ That brings the couple’s total income on the Illinois form to $308,432.
(The $80,648 is listed as tax exempt on the federal return and not included as part of the adjusted gross income.)Source:
http://www.nbcchicago.com/blogs/ward-room/Rahm-Emanuel-Claimed-Part-Year-Residency-in-09.html#ixzz19Z4HUcigRahm gets $80K in tax-exempt income not figured into his adjusted gross income.
And so do most of the folks in the top 2.5%, Rahm being one of those.
These are the folks you gave more tax breaks to.