Kathy Hochul

A peek at Hochul’s 2023 tax returns

The governor made her documents public on Friday.

The governor shed light on her financial situation.

The governor shed light on her financial situation. Mike Groll/Office of Governor Kathy Hochul

Gov. Kathy Hochul and her husband Bill raked in nearly $2 million in adjusted gross income last year, according to the pair's tax returns made available by her administration. That’s a big increase compared to the roughly $1 million they recorded in 2022.

In total, the couple made $1,902,102 between the two of them. They paid $610,072 in federal taxes in 2023, and another $123,090 in state taxes. They were taxed at a rate of 32.94% at the federal level and 6.85% at the state level. 

Hochul’s husband brought in the vast majority of the pair’s income, recording nearly $1.5 million from his former employer Delaware North. Although he left the hospitality firm in the summer of last year, he still recorded a hefty salary before his last day. Bill Hochul also got another $80,579 in deferred payments from Delaware North and $45,544 in pension payouts from his stint as a federal prosecutor. He took a job as counsel at the white-shoe law firm Davis Polk at the beginning of this year. He formerly served as an assistant U.S. attorney for the Western District of New York.

Gov. Hochul recorded making just under $250,000 as the state’s chief executive in her second full year in office.

The couple supplemented their earnings with an additional $43,292 in dividends and $18,756 in interest paid.

The Hochuls also gave just under $85,000 in charitable donations. The recipients included the American Diabetes Association, the Erie County SPCA, Planned Parenthood, The Fresh Air Fund (which coincidentally shares an address with the governor’s Manhattan office), World Wildlife Foundation and Habitat for Humanity.

Governors are not required to make their tax returns public, but they regularly do as a means of transparency. Hochul had copies of her tax documents available for members of the press to inspect at the state Capitol and her Manhattan office for a window of two hours on Friday. Former Gov. Andrew Cuomo made his returns available in a similar fashion.