Virginia Republican gubernatorial candidate Ken Cuccinelli II earned a combined income of $194,398 in 2012, including his salary as state attorney general and the $30,000 he received for writing a book, according to state and federal income tax records released Thursday by his campaign.
Cuccinelli paid more than $33,000 in combined state and federal income tax for 2012, for an effective tax rate of about 17 percent.
In addition, he gave $2,280 to charities, including his Roman Catholic parish and other religious groups. He also reported earning net capital gains of about $4,000 in 2012 on the sale of Star Scientific stock that he had purchased in February 2010 and sold last summer.
Overall, the adjusted gross income for Cuccinelli’s household ranged from a high of $244,085 in 2005, when he was in private practice, to a low of $126,953 in 2009, when he was running for the attorney general’s office. Cuccinelli received $30,000 for “The Last Line of Defense,” his political manifesto against the hazards of an overweening federal government.
Cuccinelli, 44, took the unusual step of opening up his tax records by allowing reporters to inspect eight years of returns Thursday, saying he wanted to “demonstrate a commitment totransparency and accountability.” Republicans have called on Democratic candidate Terry McAuliffe to release his taxes as well.
Cuccinelli’s campaign allowed reporters to take notes on the detailed filings, which blacked out personal information such as Social Security numbers, but declined to make copies, except of a summary.
Cuccinelli has taken some heat over failing to disclose his stake in Star Scientific in a timely way.
For nearly a year, Cuccinelli failed to disclose his Star Scientific holdings, although their disclosure was required by state law and his office was defending the state in a tax lawsuit filed by the company. Cuccinelli has said that he wasn’t aware that his holdings had crossed the $10,000 threshold at which disclosure is required, and he amended his disclosure forms after learning about it.
He has since appointed outside counsel to handle the tax lawsuit. Democrats pressured Cuccinelli to recuse his office from the Star Scientific case because of his holdings, and some have called for an investigation into his relationship with the company’s chief executive, Jonnie R. Williams Sr.
Democrats also have called for an investigation into Gov. Robert F. McDonnell’s ties to Williams, who picked up the $15,000 catering tab at the wedding of McDonnell’s daughter Cailin. The governor has said there was no need to disclose the gift because it was a present to his daughter, not him.
McAuliffe’s campaign has not said whether the multimillionaire plans to release his tax returns. A spokesman said earlier this week that the issue showed “Cuccinelli is intent on distracting from his ongoing scandal.”
Cuccinelli’s income tax filings show that he bought 100 shares of Star Scientific for $199.55 and sold them on June 29, 2012, for $462.03, for a $262.48 gain. He also purchased 1,400 shares on Oct. 20, 2010, for $2,793.67 and sold them on July 2, 2012, for $6,571.90, collecting a $3,778.23 profit. Other investments included stocks in tobacco companies, such as Richmond-based Altria and Philip Morris.
Cuccinelli, whose career has included a partnership in a law firm and a tenure in the state Senate before taking the oath as attorney general on Jan. 16, 2010, prepared some of the returns on behalf of the nine-member household. He listed himself as a lawyer and his spouse, Alice M. Cuccinelli, as “homemaker.”
Cuccinelli also sold his partnership interest in the law firm Cuccinelli & Day for an $8,443 loss when he took office as attorney general. He purchased an interest in the firm for $27,566 in November 2005 and sold it for $19,123 in 2010.
In 2010, Cuccinelli claimed the $6,500 first-time homebuyer credit on the purchase of a $605,000 home in Nokesville. Cuccinelli, who has seven children, also took advantage of the child tax credit, receiving $1,700 in 2007.
Between 2005 and 2012, Cuccinelli gave $30,955 to charities, with the highest amount going to his parish, Holy Trinity Church, in Gainesville. Other recipients included AAA Women for Choice ($1,340), a health center that opposes abortion and offers alternatives; the Family Foundation of Virginia($185), a nonprofit lobbying group opposed to abortion; and the Gloucester Institute ($1,000), which describes itself as a training ground for young African Americans in the memory of Robert R. Moton, who was the second president of the Tuskegee Normal School after Booker T. Washington.