Selecting a business structure is one of the first decisions when starting a food or farm business. The structure you choose influences day-to-day operations, how you pay taxes and even how much of your personal assets are at risk. This Lightning Guide introduces farmers and food entrepreneurs to different types of business structures. You’ll learn about:
- sole proprietorships,
- general partnerships,
- limited liability companies (LLCs), and
The guide compares business formation requirements, liability and taxation for the different structures. Use this handy guide to begin your exploration into the business structure that is right for you.