# Setting up an LLC for tax benefits in TX
**URL:** https://www.mineralrightsforum.com/t/setting-up-an-llc-for-tax-benefits-in-tx/76158
**Category:** Ownership and Title
**Created:** [June 26, 2024, 11:17pm UTC](https://www.mineralrightsforum.com/t/setting-up-an-llc-for-tax-benefits-in-tx/76158 "2024-06-26T23:17:40Z")
**Posts on this page:** 3
**Page:** 1
### Author:  [@css333](https://www.mineralrightsforum.com/u/css333)
#### Post date: [June 26, 2024, 11:17pm UTC](https://www.mineralrightsforum.com/t/setting-up-an-llc-for-tax-benefits-in-tx/76158/1 "2024-06-26T23:17:41Z")
I’m trying to figure out if I would have tax advantages/benefits from setting up an LLC for my royalties. Right now the checks are all in my name and I’m paying about 20% income tax. I’m also claiming a depletion deduction and not sure if an LLC gets to do that. I’d love to talk to an oil and gas tax accountant to know my best options.
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### Author:  [@TODD\_M\_Baker](https://www.mineralrightsforum.com/u/TODD_M_Baker)
#### Post date: [June 27, 2024, 1:17am UTC](https://www.mineralrightsforum.com/t/setting-up-an-llc-for-tax-benefits-in-tx/76158/2 "2024-06-27T01:17:31Z")
If it is a single member LLC, all the same as it uses your tax ID#.
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### Author:  [@system](https://www.mineralrightsforum.com/u/system)
#### Post date: [September 24, 2024, 11:18pm UTC](https://www.mineralrightsforum.com/t/setting-up-an-llc-for-tax-benefits-in-tx/76158/3 "2024-09-24T23:18:09Z")
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