Podcast Episode
00:40:14
In this episode, learn how to choose the right business structure when operating the farm with others. Episode 41.
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Find a specific spot in this episode:
0:00 – Introduction
1:22 – Overview of Business Structures
5:00 – Choosing the Right Business Structure
9:41 – Corporation: Benefits and Requirements
19:19 – LLC vs. Corporation: Similarities and Differences
25:05 – Taxation Differences Between LLCs and Corporations
28:35 – Cooperative Business Structure
33:03 – Challenges and Considerations for Cooperatives
38:36 – Conclusion and Resources
Your business structure can be a revolutionary tool for organizing towards farm goals, and this is especially the case when farming together in pursuit of meeting shared needs and goals. In this episode we explore top business structure options for folks farming together: the corporation, limited liability company, and the cooperative. We discuss the basic format and responsibilities of each, and provide key legal considerations to help you and your partners make the best decision together.
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