Posted 2/20/2021 11:39 (#8846611 - in reply to #8845435) Subject: RE: What business structure to put farm in
I would suggest having an ownership entity and an operating entity. Consult with your accountant and attorneys to tailor structures to meet your goals such as minimizing tax liabilities, protecting generational wealth and minimizing liability. There is no one right way to do it for all. Only you and your advisors can determine what is best for you. Our operation has a corporation, a series LLC, self proprietorships and a few trusts. Each serve their own purpose.