(The Center Square) – Gov. Phil Murphy and his wife earned more than $982,600 and paid more than $445,000 in state and federal taxes in 2020.
That’s according to tax forms prepared on the governor’s behalf before his re-election earlier this month but released this week.
Murphy, a Democrat, narrowly defeated former Republican Assemblyman Jack Ciattarelli this month to hang on to his office. He became the first Democratic governor since Brendan Byrne in 1977 to win re-election in New Jersey.
The tax numbers released by Murphy’s office show the governor’s adjusted gross income decreased from more than $4.6 million in 2016 and nearly $6.8 million in 2017 to less than $1 million in 2020.
According to the governor’s office, Murphy’s charitable contributions dropped from $175,440 in 2016 to $11,496 in 2020. However, his foundation distributions increased from $595,850 in 2017 to $637,650 in 2020.
A Houston, Texas-based tax partner with RSM US LLP prepared the governor’s taxes, which he filed jointly with his wife, Tammy. The form lists a New York post office box as their address.
A 1040 form for 2020 released on Monday by the office shows Murphy received an extension to Oct. 15 to file his taxes. The tax preparer signed and dated the form on Oct. 11.