New law bulletins focus on business entities for farm businesses

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
• Farm Service Agency Programs and Business Entities
• Using Business Entities to Manage Farm Liability Risk
• Using Multiple Business Entities for a Farm Operation
• Starting, Organizing, and Managing an LLC for a Farm Business

Authors of the Structuring Your Farm Business bulletins are Robert Moore, Attorney and Sr. Research Specialist for the OSU Agricultural Law Program, Zachary Ishee, Law Fellow with the National Agricultural Law Center (now in private practice) and Barry Ward, OSU Extension's Leader of Production Business Management and Income Tax Schools Director. 

The entire Sturcturing Your Farm Business series is now available in the Business Law library on farmoffice.osu.edu.