HARTFORD, Conn. (AP) — Republican gubernatorial candidate Tom Foley’s tax return summaries show wide swings in income.
In papers released Friday, the Greenwich businessman reported slightly more than $1 million in adjusted gross income for the 2010 tax year. That dropped to negative $65,705 in 2011 and rose to $20,462 in 2012.
Returns were not available for 2013 because Foley’s limited liability company filed for an extension.
Much of Foley’s income appears to be from trusts, interest-bearing accounts and capital gains. He cited minimal income from Stevens Aviation, a South Carolina business he bought in 1989.
Foley files separately from his wife. Records show he pays his first wife more than $76,000 a year in alimony.