U.S. Rep. Jack Kingston released five years of tax returns this week, showing that he made little income outside of his Congressional salary.
The Savannah Republican is in a primary runoff for Georgia’s open U.S. Senate seat with wealthy businessman David Perdue, of Sea Island. The winner faces Democrat Michelle Nunn in the general election.
Kingston’s gross income has remained between $148,000 and $163,754 for the last five years. He has owned a trio of Savannah-area rentals since at least 2008, but they haven’t done well for him. Kingston reported a net loss of $405 in rent expenses on the properties, as of the time of the 2012 filing.
His effective tax rate ranged from a low of 13.76 percent in 2008, which was also his lowest year in taxable income, to a high of 16.88 percent in 2012, when he had his highest taxable income. His reported itemized charitable donations were as high as $25,054 in 2011.
Perdue released 10 years of tax returns and made an average of $5.5 million per year over that span as a corporate executive and investor. He paid an effective tax rate of 38 percent in that time period.
Perdue donated about $1 million to charities over the 10-year period.
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