An LLC is reasonably easy for a farmer to establish without a lot of assistance- there’s just a few key words to understand. In return, the farmer gets liability protection for his or her personal assets and a flexible business entity that can accommodate a variety of farmers and their partners. What’s the situation? Say… Read more »
Posts Categorized: Business of Farming
Is there a difference between the farm and the person? Yes, if you want liability protection.
Choosing a business entity that offers liability protection is a very wise move for any farmer. But, simply registering the farm as an LLC or corporation isn’t all it takes. A farmer has to act like there is a distinction between the farm and the person, which is a distinction that many farmers would rather… Read more »
Farm Partnerships: Are you responsible for more than you bargained for?
Farmers who work together to make a profit might be risking their personal assets for the entire business if they form a general partnership. Under a partnership, each general partner is jointly and severally liable for the business debt. The tricky thing is that a couple of farmers can form a partnership without even realizing… Read more »
Farming in the Fast Lane: The sole proprietorship
The sole proprietorship is a quick and easy business entity for creating a new farm. But the sole proprietorship comes with some very big risks that a farmer should carefully weigh before choosing this entity. What’s the situation? Nell has just decided to become Farmer Nell. She’s looking at land, she’s circling things in her… Read more »
Is your farm required to carry workers’ comp? A research guide.
A prudent farmer should know if he or she is required by law to carry workers’ compensation insurance. When you can’t ask an attorney, doing your own legal research is a second best if you have a little time and tenacity. Here are ideas for learning the workers’ comp laws of your own state. What’s… Read more »
Protecting Farmers Markets From Imposters
Not all farmers markets sell products exclusively grown by the vendor standing behind the pile of produce. Some states are trying to help consumers by defining the phrase “farmers market” or by certifying markets. Nevertheless, the traveler will still have to look closely to find the farmer at some markets. What’s the situation? Say you… Read more »
Grow Vegetables and You’ll Pay: Why some federal farm programs prohibit vegetable and fruit production.
Converting even a tiny portion of a conventional farm to vegetable production may prohibit the farmer from collecting the federal payments that support so many Midwestern farms. As a result, young farmers might find it harder to secure vegetable farmland and established growers can’t convert to healthier, locally-marketable crops. What’s the situation? June, a young… Read more »
