Republican gubernatorial candidate Scott Milne earned $139,738 last year and has net assets worth $2.6 million, according to personal financial information the candidate disclosed just after midnight Thursday morning.
Milne also reported $117,588 in income in 2012. He paid $17,376 in income tax in 2012 and $13,380 last year, his tax returns show.
Milne reported that his assets total $4.3 million and include a home in Pomfret, worth $402,000, of which Milne said he owns half. He also owns land in the town of Washington worth $39,800, according to the forms he released.
Other assets include investments in Masaii LLC, B&M Realty, Milne Travel, an IRA, a Roth IRA and a stock account, according to the documents.
His liabilities include several loans, a private mortgage and a $950,000 promissory note. His net liabilities total $1.6 million.
If elected, Milne said he would encourage the Legislature to adopt financial disclosure requirements for gubernatorial candidates.
Vermont has no personal income disclosure requirements. It is one of only three states not to require such information from elected legislators or statewide office holders. The other states are Michigan and Idaho.
Bills to require such disclosures have gone nowhere.
“It’s time for both parties to come together and follow the lead of the majority of states that require candidates for office to be transparent to the people they wish to serve,” Milne said in a news release.
Incumbent Gov. Peter Shumlin and Libertarian Dan Feliciano in September released their personal financial information. Shumlin released one year of finances as well as a list of his assets. He reported $721,000 in income in 2013 and net assets worth $10 million.
Feliciano released two years of tax returns, reporting $239,796 in income in 2013 and $173,956 in 2012. He did not release a list of his assets.
Milne has said for weeks he would release his information by Oct. 15. The date on his 2013 tax return is Sept. 25, meaning he filed it only three weeks ago.
As he released his information, Milne took a shot at Shumlin for releasing only one year of information and for not providing greater detail on how he earned the majority of his income, which was not from his $128,000 governor’s salary.
Milne released his 2013 tax return, 2012 tax return, a list of his assets, details on his 2012 income and a federal disclosure form with all assets and liabilities for 2013. That is the same form members of the U.S. Senate and House of Representatives must complete, he said. He challenged Shumlin to release the same documents.
“The ball is in Peter Shumlin’s court to show Vermonters he has nothing to hide,” Milne said. “Vermonters already know that Shumlin spent 25% of his time out of the state on vacation and rubbing elbows with lobbyists. When their Governor is collecting a sizeable income aside from his government salary, residents deserve answers.”
Shumlin’s campaign manager Scott Coriell did not say whether the governor will release more information. He said: “I’m glad that Scott Milne has decided to join Dan Feliciano and the governor in releasing his tax returns. It’s still unclear why he waited a month since he was first asked to do so.”
Milne’s form also discloses positions he holds. He is the president of Milne Travel Agency, managing member of B&M Realty LLC, a member of Masaii Properties LLC, an advisory board member to American Express Travel Related Services and TravCorp USA and a former board member of Vermont PBS.
