“Establishing and maintaining the right business structure for your farm operation lays the foundation for a stable, resilient farm business. Forming a business structure can help manage risk by protecting the owners’ assets from the business’ liabilities; promote good business practices through accounting and decision-making protocols; raise funds from outside investors; and ease the ownership transition process. For most farmers and ranchers, choosing a structure is straightforward. Complexity arises when drafting organizing documents to support your structure of choice, or, determining how it will operate.
Farmers’ Guide to Business Structures: LLCs, Corporations, Partnerships and More will support you throughout this process, from outlining the options and how to choose one, to in-depth chapters on the characteristics and requirements of each.”