Can a Farm Be a Sole Proprietorship?
Sole proprietorship is a simple business structure that is owned by one farmer. Thirty-five percent of livestock farms and 36 percent of crop farms are sole proprietorships.¹ In a sole proprietorship, the farmer maintains complete control of the business, including assets and profits.
What kind of legal entity do I need for my farm?
[email protected] There are three forms of legal entities that farmers typically choose for their business: sole proprietorship, partnership, or limited liability company. In addition to the for-profit entities, a farm may choose to be a nonprofit corporation.
