Legal Topics & Business Structures

Typically, farm transfer requires addressing multiple legal issues and producing one or more legal documents. Business structures may need to be created or revised to facilitate the transfer. The resources gathered here will help farm families and professional advisers better prepare for their work together.

 


Creating a Limited Liability Company

A concise matrix outlining what to do and when to do it

Beth Kennett, Bob Parsons, and Jesse J. Richardson, Jr., Virginia Polytechnic Institute and State University Extension Service, 2 pages, Available online

In “A Legal Guide to the Business of Farming in Vermont” p. 25


Farm Transfers in Wisconsin: A Guide for Farmers

A comprehensive, friendly guide for farmers everywhere; includes farm business arrangements as well as family, financial, and legal considerations

Jeanne M. Meier and Gwen Garvey, Wisconsin Department of Agriculture, Trade and Consumer Protection, 2003, 90 pages, Available online

http://www.datcp.state.wi.us/mktg/agriculture/farm-center/transfers/pdf/transfer_guide.pdf


Business Structures

The Internal Revenue Service guide to business structures.

http://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Business-Structures


Choose Your Business Structure

Learn about the different types of business structures and find the one best suited for your business.

A resource from the U.S. Small Business Administration

http://www.sba.gov/category/navigation-structure/starting-managing-business/starting-business/choose-your-business-stru


Organizing Your Business

Guide to starting a business in Minnesota from the Minnesota Department of Employment and Economic Development.

http://www.positivelyminnesota.com/Business/Starting_a_Business/Organizing_Your_Business/index.aspx


Starting a Business or Non-Profit

The Minnesota Secretary of State’s step-by-step guide to starting a business, including links to additional resources.

http://www.sos.state.mn.us/index.aspx?page=92