What he did was create a trust where the LDS gets 8% of the earnings and he gets the other 92%. Since the Church is the official keeper of the trust, it pays no taxes, even though Romney takes most of the earnings, and indeed can take money out of the trust over time.http://www.cjr.org/the_audit/bloomberg_digs_up_more_on_romn.php
What he did was create a trust where the LDS gets 8% of the earnings and he gets the other 92%. Since the Church is the official keeper of the trust, it pays no taxes, even though Romney takes most of the earnings, and indeed can take money out of the trust over time.http://www.cjr.org/the_audit/bloomberg_digs_up_more_on_romn.php