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GOP millionaire declines to release tax returns

September 22, 2018 GMT

PORTLAND, Maine (AP) — A self-made Republican millionaire running for Maine governor is declining to release his tax returns over concern of revealing financial information about his employee-owned company.

Auto collision repair chain founder Shawn Moody was the only gubernatorial candidate who declined to release his tax returns Friday to news outlets.

Democratic Attorney General Janet Mills is seeking an extension on her 2017 returns but released returns showing about $114,000 of adjusted gross income in 2016.

Independent State Treasurer Terry Hayes and her husband reported gross income of about $90,000 last year.

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Independent candidate Alan Caron and his wife reported income of nearly $1 million, including about $816,000 in capital gains.

Moody tells the Bangor Daily News that he asked three employees about releasing his tax returns and all three opposed the disclosure.