New tax law gives FLP's an additional 20% tax break. I used the FLP in 2007 to help share the royalty income with all my children and grandchildren. I think this has helped greatly and future generations will share the benefits without breaking up the mineral interests lending strength to the mineral ownership. It is worth the work and money. Find a good lawyer to set one up! We have a business meeting yearly - getting everyone together.
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Permalink Reply by Andrew on Does passive royalty income qualify as QBI eligible for the 20% tax break?
Permalink Reply by EastTexasFarmer on The benefits of the family limited partnership can be significant. But they can only be realized if the arrangement is valid under the requirements of the IRS. There are costs and expenses associated with the creation of these legal instruments. Consult a qualified legal or tax advisor if you think your family could benefit from a family limited partnership.
The History of GoHaynesvilleShale.com
GoHaynesvilleShale.com (GHS) was launched in 2008 during a pivotal moment in the energy industry, when the Haynesville Shale formation—a massive natural gas reserve lying beneath parts of northwest Louisiana, east Texas, and southwest Arkansas—was beginning to attract national attention. The website was the brainchild of Keith Mauck, a landowner and entrepreneur who recognized a pressing need: landowners in the region had little access to…
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