I am oftentimes asked about the best choice of business entity for a farm/ranch, agri-business or food entrepreneur. There is no one-size fits all answer to that question as each type of business entity offers different strengths and weaknesses. It is important to pick the right business entity for your specific type of enterprise – the answer to that question may …
Some Thoughts on Operating Agreements for Limited Liability Companies
If you have decided to form a Limited Liability Company (“LLC”) or Family Limited Liability Company (“FLLC”), you should strongly consider creating an Operating Agreement. In New York, the Operating Agreement must be executed within 90 days of forming your LLC. Farms and food entrepreneurs are discouraged from using an online form as the Operating Agreement should be tailored to …