Business structure for small farms : a quick guide
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The business structure a small farm chooses has long-term implications worth careful consideration. The potential impacts of business structures include differences in federal taxation, vulnerability of the owner and family in lawsuits or debts, and operational considerations for current or future family members or partners. This publication describes types of business structures, including sole proprietorships, partnerships, LLCs, corporations and cooperatives, and explains their implications for small farms.