Choosing a business structure for your farm can feel overwhelming. Thankfully, we have a helpful resource for you to reduce the overwhelm! Check out our Farm Business Structure Basics. It answers the most frequently asked questions farmers have when choosing a business structure, such as: I’m not sure I want to form a business entity? Can’t I just sell my products or services? Which one is better – a corporation or an LLC? If you are more of a visual learner, and want to see all your business structure options, follow the Farm Business Entity Flowchart in our free Understanding the Options article, an excerpt of our Farmers’ Guide to Business Structures. Through a series of Yes/No questions, this flowchart leads the reader to business structure options that are likely to fit the farm’s needs.
For audio learners, we’ve got two podcast episodes to get you started. Listen to our Podcast Episode 5: Farm Like You Mean Business! fora basic introduction to business entities for farms. You’ll learn about sole proprietorships, partnerships, LLCs, and corporations as the hosts explore the big question: What’s best for your farm enterprise? Hear directly from farmers about their personal experiences with tax issues, organizational documents, and more. And if you know that you want to go into business with other people, start with Episode 41: Choosing a Business Structure Together (40mins). This episode focuses on the top business structure options for folks farming together, whether related or not, and provides key legal considerations for you and your business partners.
If you are looking for a deep dive into the world of farm business structures, and all the legal considerations around these choices, we have a comprehensive resource to fit your needs. In our Farmers’ Guide to Business Structures (325pgs.) you will learn all about the business structure options available to you: Sole proprietorships/Partnerships, LLC’s, C Corporations, S Corporations, Nonprofits, and Co-ops. Through a mix of checklists, flowcharts, model organizational documents and more, you will be able to break down their options and choose a business entity that is best suited for your unique farm operation. The guide also explores complex issues like anti-corporate farming laws, running multiple entities, and going into business with other farmers. Note: The printed book version is available for purchase from Sustainable Agriculture Research & Education (SARE). Go to https://www.sare.org/resources/farmers-guide-to-business-structures/.