King Refuses to Release State Income Tax Returns
Tuesday, September 28, 2010
Republican candidate for General Treasurer Kernan “Kerry” King is now refusing to release his state income tax returns after questions were raised about his Florida residency.
He also continues to demand that his Democratic opponent, Gina Raimondo, release her income tax returns. According to his campaign manager and spokesperson Vic Pichette, the King campaign will no longer discuss their candidate’s income tax returns until Raimondo releases her information.
Residency In Question from 2005 to 2009
GET THE LATEST BREAKING NEWS HERE -- SIGN UP FOR GOLOCAL FREE DAILY EBLASTThe new stance comes on the heels of GoLocalProv.com’s request for King to release his 2005-2009 Rhode Island state income tax returns. The inquiry was made in an effort to verify the candidate’s state of residence, according to income tax records, during that time period.
The move comes as a departure for King, who has previously posted his 2008 and 2009 federal returns on his Web site, Kingfortreasurer.org. Raimondo has refused making her income tax returns public, saying it would infringe upon the privacy of her partners in her venture capital firm, Point Judith Capital Partners.
King Was Receiving Florida Tax Benefit
Questions concerning King’s residency and state income tax payments surfaced earlier this month when it was discovered he had been receiving tax benefits designed for Florida homeowners while claiming Rhode Island as his place of residence.
According to Pichette, King has reimbursed Sarasota County, Fla., approximately $5,300 in hometown tax exemption benefits. The payment included the delinquent amount, interest and penalties. King, who began his professional career as a tax attorney in 1969 with New England Mutual Life Insurance, has denied any wrongdoing, stating the continued benefit was an oversight.
Originally a Rhode Island native, King had been receiving the tax reduction, available only for Florida residents on his Osprey, Fla., home beginning in 2005 and continuing until his year. He had lived in Florida from 2002 to November 2005, then moved to the Ocean State in an effort to run for Lieutenant Governor in 2006. He has owned a home in Narragansett since 1989.
According to Sarasota County Tax Collector requirements, a Florida driver’s license – or identification card - and automobile registration are necessary to apply for the exemption. Last week, King surrendered his Florida license to officials at the R.I. Division of Motor Vehicles. It is illegal in both states to own two licenses.
Sarasota County photo credit Robert S. Donovan
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