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Gabriel E. Gomez, the Republican nominee for the US Senate special election, reported adjusted gross income of $10.1 million over six years as a private equity investor, according to tax returns made available by his campaign on Wednesday.
Gomez paid $2.1 million in taxes during that period, from 2006 through 2011, his filings show. His average effective tax rate of 21 percent over that period reflects the tax benefits in private equity, where investment profits are taxed at a lower rate than other income.
A former US Navy SEAL who turned to private equity investing after graduating from Harvard Business School, Gomez has been pushing his opponent in the Senate race to release his taxes for the first time in his long political career.