New Jersey Governor and First Lady release tax returns
Twice as many as 2022, less than 2021
We still have two dependent children

Gov. Phil Murphy’s tax return, filed jointly with First Lady Tammy Murphy, has been made public and shows the wealthy couple’s income more than doubled last year compared to 2022.

Murphy’s adjusted gross income It was $1.4 million in 2023, compared to $684,000 the year before and $5.2 million in 2021.

Their 2023 income As seen on the tax return, $885,920 was broken down as capital gain, $486,844 as dividends and $113,364 as taxable interest in 2023. reported by NJ.com.

The wealthy couple had a tax rate of 42% last year, compared to nearly 50% in 2022 and 36% in 2021.

Their occupations were listed as governor and housewife, respectively.

Two of Murphy’s four children – Charles and Sam – were still listed as dependents.

Under IRS guidelinesTo be considered a dependent, the child must be under the age of 19 or a “student” under the age of 24 as of the end of the calendar year.

They earned more than $372,000 charitable contributions or foundation distributions in 2023.

The 2022 philanthropic figure is over $500,000, while 2021 saw $692,000 in total philanthropic distributions.

As for the taxes they pay on their six-acre waterfront compound in Middletown; this year $171,866 in taxes.

The main house has six bedrooms and 12 bathrooms.

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