Posted 5/22/2019 09:36 (#7512561 - in reply to #7512081) Subject: RE: The $2 bucks is only about 1,000 acres of beans per farm Entity
nw mizz
The entity cap is a joke. Very simple to rearrange acres to the wife, son, sons wife, different LLC ect. Close friends wife works at FSA office, said one of the major pork producers in county had a person in their office every day for 3 weeks setting up different entities for all their hog units.
Local single store farm tire shop has quit accepting checks from LLC's. Requires cash or money order before work is done. They have been burned several times by LLC's going bankrupt on huge tractor/semi bills. Same farmers have 4-5 LLC's and let one go broke every couple years and start another. How the banks go along with this is mind boggling....
The $2 bucks is only about 1,000 acres of beans per farm Entity
