Gingrich releases tax returns, paid 31 percent tax rate

By Leigh Ann Caldwell

Newt Gingrich at South Carolina debate on January 19, 2012

Former House Speaker Newt Gingrich's campaign released his 2010 tax returns Thursday night, just as he was stepping on stage in South Carolina to debate his three rivals for the Republican nomination for president.

Gingrich voluntarily revealed his income, detailed expenses and tax expenditures in a move designed to put pressure on front-runner Mitt Romney, who has been under pressure to release his own tax returns.

Romney moments later said he would release several years of tax returns in April if he becomes the nominee. Earlier this week Romney said he pays the capital gains tax rate of 15 percent because most of his income comes in the form of investments.

Gingrich's returns reveal that he and his wife Callista earned more than $3.1 million in 2010 and paid $994,708 in taxes, or 31 percent of their income. More than $2.5 million of their income was earned from partnerships and S corporations.

He had income of $41,625 from speaking and board of directors fees.

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Gingrich's tax returns detail some of his expenses, including $81,000 to charity, $19,800 in alimony, and $14,700 in taxable income to a household employee.

Source: Gingrich releases tax returns, paid 31 percent tax rate - Political Hotsheet - CBS News