The billionaire doesn't plan to release his full tax returns, according to media reports.
One of Caruso's opponents in the mayoral election, City Attorney Mike Feuer, alleged during a March 22 debate that Caruso didn't pay taxes on his $100 million yacht, which he said was registered in the Cayman Islands. Feuer challenged Caruso to release his tax returns, and Caruso responded that he would "release everything that I pay in taxes," including on the yacht, once all the other candidates on stage decide to release their tax returns.
Feuer released tax returns from the past five years the next day. He and his wife, Court of Appeals Justice Gail Ruderman Feuer, paid 27%-30% in taxes between 2017 and 2021, with their highest income at a combined $416,000, The Times reported. Another candidate for mayor in the June 7 primary, Councilman Joe Buscaino, released the last five years of his tax returns on April 4. He and his wife Geralyn paid between 17%-23% in income taxes.
The Times also reviewed the tax returns of Rep. Karen Bass and some of Councilman Kevin de León's, who said he plans to release more information on Tuesday. The Times said Bass paid 22%-23% in taxes and De León paid 26% in 2017 and 23% in 2018.
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