NewsMontana News


MT governor candidate Gianforte releases 10 yrs of income-tax returns

Reported $184M of gross income; $30M of income taxes
Posted at 12:00 PM, Jul 01, 2020
and last updated 2020-07-01 14:00:37-04

HELENA — Republican gubernatorial candidate Greg Gianforte, who made millions on the 2012 sale of a software company he co-founded in Bozeman, released tax returns Wednesday showing that he and his wife, Susan, reported $184 million of income the past 10 years.

The Gianforte campaign said the disclosure of his taxes – along with those of running mate Kristen Juras – set an example of the “openness, accountability and transparency” they’ll bring to operating state government, if elected.

Gianforte is running against Democratic Lt. Gov. Mike Cooney for an open governor’s seat this fall. A Libertarian and Green Party candidate also are in the race.

The campaign released copies of the first several pages of the Gianfortes’ federal and state income-tax returns from 2009-2018 and Juras’ from 2010 through 2019.

In the mid-1990s, Gianforte and his wife co-founded RightNow Technologies in Bozeman, a software development company that grew into an international firm with 500 employees in Bozeman.

The returns showed that a huge chunk of the Gianfortes’ income during the 10-year period – almost $138 million – came from capital gains, including $123 million in 2011 and 2012, when RightNow was acquired by Oracle Corp. for $1.8 billion

They reported paying $23 million in federal-state income taxes over the 10 years and $7 million in Montana state income taxes.

The Gianfortes also said they contributed about $41 million to charitable causes, including their family foundation, which has handed out almost $70 million in grants since its establishment.

Juras, and attorney from Great Falls, reported $1.46 million in adjusted gross income for the 10-year period, upon which she paid $269,000 in state and federal income taxes.