Governor Kathy Hochul and her husband Bill reported a significant increase in income in 2023, with their adjusted gross income reaching around $2 million, up $1 million from the previous year. The couple paid $610,000 in federal taxes and $123,090 in state taxes, with Bill Hochul being the primary earner, making approximately $1.5 million from his former employer Delaware North. This was a substantial increase from the $650,375 he earned in 2022.
In 2023, the Hochuls also increased their charitable contributions, donating $84,780 in stocks to various organizations, including shares of Microsoft to the Franciscan Sisters of St. Joseph in Hamburg. This was an increase from the $58,424 in charitable gifts they gave in 2022. Additionally, Bill Hochul claimed additional income in 2023, receiving $80,579 in deferred payments from Delaware North and $45,544 in pension payouts from his time as a federal prosecutor. The couple also saw an increase in dividends and interest paid.
Governors are not required to make their tax returns public, and Governor Hochul’s office did not respond to requests for comment on the information provided in their tax return. Despite this lack of public requirement, media reports covering the couple’s tax returns indicate a significant increase in income and charitable donations from the Hochuls in 2023. Bill Hochul, in particular, saw an increase in income from his former employer and claimed additional earnings from deferred payments and pension payouts.
The increase in income for the Hochuls in 2023 highlights their financial success and generosity in giving back to various organizations through charitable donations. The couple’s tax return also reflects additional income sources, such as deferred payments and pension payouts claimed by Bill Hochul. While Governor Hochul’s office did not provide a comment on their tax return, the information presented in media reports offers insight into their financial situation and philanthropic efforts.
Overall, the Hochuls’ tax return for 2023 shows a significant increase in income, charitable contributions, and additional sources of earnings compared to the previous year. This reveals their continued financial success and commitment to philanthropy, with Bill Hochul being the primary earner in the household and claiming various additional income sources. Despite not being required to make their tax returns public, media reports provide a glimpse into the financial status of Governor Hochul and her husband, Bill, showcasing their increased income, charitable giving, and diversified sources of earnings.
