Farm business structure: proprietor, partnership or corporation?
One of the most common questions we get from our farm clients is how their business should be structured.
The three most popular ways of structuring a farming business are:
Proprietorship ?–? where the business is operated by a single individual
Partnership ?–? where two or more people operate the business
Corporation ?–? where the business is operated by a distinct legal entity
Choosing which of these three structures is right for your farm depends on many factors. This article attempts to outline some of the primary advantages and disadvantages of each option to better help with this decision.
"I want farm families to see conflict as a good thing that can be resolved."
The majority of the current eligibility criteria and industries and occupations are able to benefit from this program does not appear to be changing.