Leon Guerrero paid $172K in 2017 income tax

LEON GUERRERO: Gubernatorial candidate Lou Leon Guerrero answers questions during a Guam Visitors Bureau gubernatorial forum held Tuesday at the Lotte Hotel Guam in Tumon. David Castro/The Guam Daily Post

(Editor's note this story has been corrected to reflect that Lou Leon Guerrero paid a total of $172,873 in income tax.) 

Democratic gubernatorial candidate Lou Leon Guerrero disclosed her income through the public release of her 2017 tax return Thursday afternoon.

Leon Guerrero and her husband, private attorney Jeffrey Cook, reported a combined adjusted gross income of $603,782.

Most of that income, $465,542, was reported as wage-related income. The couple filed their tax return jointly.

The couple reported $56,715 in rental income and $31,284 in taxable interest, among other sources of income.

The couple paid $77,114 in additional income tax to the Treasurer of Guam on top of $97,309 that had been prepaid, raising the total to $172,873.

Leon Guerrero is a major shareholder in the parent company of Bank of Guam, which her late father, Jesus S. Leon Guerrero, chartered in 1972, with a capitalization of $1.5 million and more than 900 shareholders. The bank's assets reached $1.9 billion in 2016, previously released information from the bank states.

Leon Guerrero’s tax return was released after the release of the 2017 tax return for Republican gubernatorial candidate and Lt. Gov. Ray Tenorio. Tenorio's tax filing status was married filing separately.

Write-in gubernatorial candidate Frank Aguon Jr. previously publicly released his tax return as well.

Tenorio had total wages of $87,964. However, $23,998 is listed as retirement savings contributions, which were not immediately taxed.

After deductions, Tenorio was left with a taxable income of $41,722.

The total amount of tax Tenorio paid to the Department of Revenue and Taxation in 2017 was $6,371.

The tax return for Frank Aguon and his wife, Jennifer Aguon, shows their combined income was $133,224.

After deductions, the Aguons reported a taxable income of $104,955.

The Aguons paid $17,716 in taxes to Rev and Tax in 2017.