Gov. Hochul, husband made nearly $2M in 2023, paid $733,000 in state, federal taxes
New York Gov. Kathy Hochul is pictured at the State Capitol in Albany in January. Credit: TNS/Mike Groll
ALBANY — New York Gov. Kathy Hochul and her husband reported $1,902,102 in income in 2023 and paid $733,162 in state and federal taxes, according to their annual joint tax return released Friday.
The Democratic governor’s wages totaled $249,815, but the bulk of the couple’s income came from her husband, Bill, a former U.S. attorney who up until August served as senior vice president and general counsel for hospitality corporation Delaware North.
Bill Hochul’s income was $1,467,116, according to the tax records, which along with the governor’s salary and other various income sources totaled nearly $2 million — significantly higher than the nearly $1 million earned in 2022.
A Hochul spokesman attributed the increase to additional compensation Bill Hochul received from Delaware North, saying it’s common for high-ranking employees to receive additional compensation for their years of service when departing a company.
Bill Hochul stepped down from Delaware North in August and joined Davis Polk & Wardwell as counsel in January. His role with Delaware North had created potential conflicts of interest, particularly when the company served as a concessions contractor for the Buffalo Bills at a time when the state allocated hundreds of millions of dollars in subsidies for a new stadium.
The couple’s total federal taxable income was $1,803,779, and they paid $610,072 in taxes at a rate of 32.94%, according to the returns. Their state taxable income was $1,796,932, and they paid $123,090 in taxes at a rate of $6.85%.
The Hochuls donated $84,780 to charities, most of it to nonprofits in Western New York, where they have a residence, tax records show.
They will receive a state tax refund this year of $63,748, which a spokesman for the governor said was because they over prepaid.
ALBANY — New York Gov. Kathy Hochul and her husband reported $1,902,102 in income in 2023 and paid $733,162 in state and federal taxes, according to their annual joint tax return released Friday.
The Democratic governor’s wages totaled $249,815, but the bulk of the couple’s income came from her husband, Bill, a former U.S. attorney who up until August served as senior vice president and general counsel for hospitality corporation Delaware North.
Bill Hochul’s income was $1,467,116, according to the tax records, which along with the governor’s salary and other various income sources totaled nearly $2 million — significantly higher than the nearly $1 million earned in 2022.
A Hochul spokesman attributed the increase to additional compensation Bill Hochul received from Delaware North, saying it’s common for high-ranking employees to receive additional compensation for their years of service when departing a company.
Bill Hochul stepped down from Delaware North in August and joined Davis Polk & Wardwell as counsel in January. His role with Delaware North had created potential conflicts of interest, particularly when the company served as a concessions contractor for the Buffalo Bills at a time when the state allocated hundreds of millions of dollars in subsidies for a new stadium.
The couple’s total federal taxable income was $1,803,779, and they paid $610,072 in taxes at a rate of 32.94%, according to the returns. Their state taxable income was $1,796,932, and they paid $123,090 in taxes at a rate of $6.85%.
The Hochuls donated $84,780 to charities, most of it to nonprofits in Western New York, where they have a residence, tax records show.
They will receive a state tax refund this year of $63,748, which a spokesman for the governor said was because they over prepaid.
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