Home>Articles>Hugin earned $33.8 million over last two years, paid $12.5 million in taxes

Republican U.S. Senate candidate Bob Hugin

Hugin earned $33.8 million over last two years, paid $12.5 million in taxes

Campaign set strict limits on review of Senate candidate tax returns

By Nikita Biryukov, May 07 2018 9:57 pm

U.S. Senate candidate Bob Hugin gave reporters a chance to look at his tax returns on Monday, but a look was about all the reporters got.

According to Hugin’s 2016 and 2015 tax returns, the former biotech executive had an adjusted gross income of $14.3 million in 2016 and $19.5 million the year before. For those two years, Hugin paid $3.1 million and $4.7 million, respectively, in federal taxes.

Hugin paid $1.7 million in 2016 and $3 million in 2015 to local and state taxes. During those same years, he made gave almost $9 million in charitable contributions, with $5 million given in 2015 and $3.9 million given in 2016.

Almost all of Hugin’s charitable giving in 2015 – just shy of $4.9 million – came in the form of Celgene stock given to his family foundation. According to Hugin Family Foundation disclosure forms, Hugin, who serves as the foundation’s president and treasurer, was the foundation’s only donor that year.

The foundation gave exclusively to the High Mountain Institute, the Pingry School, Lehigh University and the Yale McKellip Scholarship Fund.

It’s unclear where Hugin’s charitable giving went in 2016. Though his tax returns deducted almost $3.9 million for charitable giving in 2016, the IRS forms and accompanying statements explaining that giving were left out of the tax returns made available to reporters.

Megan Piwowar, Hugin’s communications director was not sure why the 8283 form, on which non-cash donations worth more than $500 are recorded, was left off the return. The campaign later made the form available on site.

Piwowar was not present at the law office where the tax returns were made available for review, and the members of campaign staff that were there were unable to answer questions, serving only as minders making sure that reporters did not electronically record the returns.

Other portions of the returns, portions that did not appear to reveal personal information, were redacted. Specifically, the campaign redacted descriptions of numerous capital assets.

Reporters were given two hours to comb through hundreds of pages of dense financial documents without access to any electronics. Laptops were not allowed in the room, pictures were forbidden and reporters could not make copies of the documents.

While reporters could bring phones into the room, they could not use them to look up information or call experts while inside. They had to leave the room to do so.

The conditions severely limited the analysis of Hugin’s tax returns.

The campaign did, however, provide reporters with copies of Hugin’s Senate financial disclosure, which is not yet available online.

Hugin said in a release that he would make his 2017 tax returns available to the press when they were filed and accepted. It remains to be seen whether or not those releases will come with the same set of restrictions.

Hugin Family Foundation
Bob Hugin Financial Disclosure
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