Conway releases tax records in spite of Bevin's refusal, reveals forced energy stock sale worth $5.4M

06/18/2015 09:28 PM

Democratic gubernatorial nominee Jack Conway released three years of tax returns as promised Thursday, offering the public a glimpse at his personal finances ahead of the Nov. 3 election.

Conway’s campaign and other Democrats have hounded Republican candidate Matt Bevin to follow suit since the Louisville businessman told Pure Politics June 10 he would if elected, but not as a candidate.

The Kentucky Democratic Party, in fact, released an online clock on Monday to track the amount of time since Bevin first said he would not disclose his tax records, prompting the Republican to challenge Conway to release a single policy plan. Conway’s campaign has said a jobs plan will be released next week.

A forced sale of 56,700 shares of Kinder Morgan Partners LP stock Oct. 2 following the Houston-based energy company’s announced consolidation yielded nearly $5.4 million for the Democratic attorney general, who reinvested $5 million in various energy stocks, according to a summary released by his campaign:

  • Access Midstream Partners LP, $597,727
  • Breitburn Energy Partners LP, $599,375
  • Calumet Specialty Products LP, $599,269
  • Crestwood Midstream Partners LP, $599,164
  • Energy Transfer Partners LP, $599,655
  • EV Energy Partners LP, $600,842
  • JP Energy Partners LP, $200,306
  • Nustar Energy LP, $596,161
  • Vanguard Natural Resources LLC, $598,127

Conway, who filed jointly with his wife Elizabeth, paid $837,700 in capital gains taxes in the sale — $644,385 to the Feds and $193,315 to the state — according to campaign spokesman Daniel Kemp.

That’s 76.8 percent of his family’s $1.3 million in state and federal income taxes paid, according to the tax summary.

He also reported $18,875 in charitable contributions last year.

Conway, who earns $118,217 annually as attorney general, and his wife earned $233,421 in gross income in 2013 and $213,055 in 2012, and the couple paid $47,916 and $40,615 in federal and state income taxes in those years, the tax summary states.

They also claimed charitable contributions totaling $10,731 in 2013 and $11,472 in 2012.


Subscribe to email updates.

Subscribe and get the latest political intelligence delivered to your inbox.