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The What, Why and How of Choosing and Organizing a Business Entity for the Farm

Broadcast Date: January 05, 2016
Chapter 1
Meet Farm Commons and get some context on what we'll be covering in today's presentation.
Chapter 2
What kind of operation classifies as a nonprofit organization? Hint: You don't automatically have a nonprofit just because your business isn't making money!
Chapter 3
 Sole Proprietorships and Partnerships
The upsides and downsides of these relatively simple business entity options.
Chapter 4
 LLCs and S Corporations
General parameters and limitations, tax aspects , how to create, and other decision-making factors to consider.
Chapter 5
 PSA and Question Break
We answer: What makes a farm a good fit to farm a nonprofit, and how would look in the context of our earlier definition?
Chapter 6
 C Corporations
What is a C Corporation and why would you choose to form one?
Chapter 7
Is forming a cooperative the right choice for your farm operation?
Chapter 8
 Annual duties and operating agreements
Learn what your basic duties are when forming a business entity. Also - what is an operating agreement, do you need to form one, and how?
Chapter 9
 Final Q&A
We answer questions on running cooperatives as worker cooperatives, updating operating agreement, and more.

Many farmers operate as a sole proprietorship, but there are a number of other business entities available for farm businesses. In this tutorial, learn all about partnerships, LLCs, S corporations, C Corporations, and cooperatives. We’ll go over how to choose amongst these choices as well as what goes in to organizing and maintaining a business entity. Do you need bylaws or an operating agreement – and what should go in those documents? How much does it cost to form an LLC or a corporation? And what exactly is an S corporation, anyway? We’ll also address entity structures for the farm business and some tax aspects of business entities. 

Beginning Farmer

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