Gingrich releases his tax returns during the GOP debate in SC

Newt and Callista Gingrich earned more than $3.1 million in 2010, according to tax returns the former House Speaker posted online shortly after Thursday night’s debate started.

According to the release, the Gingrich’s paid $382,734 in income taxes last year, however $613,517 of the tax amount owed “had been previously withheld or otherwise paid,” bringing their effective tax rate to just over 31 percent.

Over $2.5 million of the Gingrich’s income came from “partnerships and S corporations, including the Lubbers Agency Inc. and Gingrich Holdings, Inc.” 

The balance came from speaking and directorship fees, rental income from real estate holdings, and nearly half a million in “combined wages.” 

“I released (my tax returns) this evening,” Gingrich said at the debate. “We also released the little small charitable foundation we have, so that people can see what we do and how we did it and what our values are.”

Gingrich has hounded Mitt Romney to release his taxes, saying that if there’s a problem, voters should find out about it before the general election.

Romney said he will likely release his latest returns once they’ve been filed in April.

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