What type of business entity is your farm? A common answer to that question is unfortunately the wrong answer: "I don't have a business entity for my farm." That's not a correct answer because every farm engaged in the business of farming is a business entity in the eyes of the law. Our new law bulletin series on "Structuring Your Farm Business" explains the different types of business entities available to farm businesses. The series also addresses tax and liability characteristics of different business entities, how business entities affect Farm Service Agency programs, how to start and manage an entity, and the important role business entities can play in protecting a farming operation for the future.
Supported by funding from the National Agricultural Law Center and USDA National Agricultural Library, the new series includes these bulletins:
A Comparison of Business Entities Available to Ohio Farmers
Tax Characteristics of Business Entities Available to Ohio Farmers
Source: osu.edu
Photo Credit: pixabay-franck-barske
Categories: Ohio, Business