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S-Corp, LLC, Series LLC, Revocable Trust????
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cows-n-crops
Posted 1/22/2018 04:13 (#6522495)
Subject: S-Corp, LLC, Series LLC, Revocable Trust????


NEMO		Not sure the best forum to put this, but this one seems to be the most business minded.

Started working on a trust a few years ago and never finished it. Complex farming operation with several things going on: Row crops, cattle, semi's for the farm, construction equipment for the farm, couple grain storage sites, some equipment owned with Dad (that is semi-retired), some equipment he owns 100% and some I own 100%. Cash rent land, share crop land, and own some land. Have a wife and kids along with a couple employees. Also have small rental properties.

Looking into LLC's and saw Missouri allows Series LLC's. Thinking about having separate one's for row crops, cattle, semi's, and construction equipment. Seems like a paperwork nightmare. What do you do for tractors and pickups that get used both for row crops and cattle? Have a trust own equipment and rent to LLC's?

What do you guys have that is working? What would you do different? What do you recommend? Any ideas? S-Corp over LLC's?

Currently no CDL and minimal paperwork is required to drive semi's in MO under farm tags. Does changing the semi from 'ABC Farm' to 'ABC Farm Trucking SLLC' change CDL and paperwork status if still hauling 'ABC Farm' grain or 'ABC Farms Row Crop SLLC' grain?

Thanks in advance for any information or input!



Edited by cows-n-crops 1/22/2018 04:16
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