University of Maryland Extension

corporation

Income taxes for for-profit businesses

Urban Ag home | Table of contents An owner of an LLC pays taxes just as a sole proprietor does: all profit is considered personal income and taxed accordingly at the end of the year. Generally, a business owner will want to avoid double taxation in the early stages. The LLC structure prevents that...

Choice of business entity structure

Urban Ag home | Table of contents How you choose to structure your farm operation is an important risk management decision. But, choosing isn’t always easy. There are several types of business entities, each with its own pros and cons, and states have different requirements for different business...

Using a Business Organization Structure to Limit Your Farm's Liability

In Maryland, 82.7 percent of agricultural operations conduct business as sole proprietorships (Census of Agriculture, 2012). As agriculture continues to evolve, however, producers should consider investigating all types of business organization structures for their operations to limit liability and...

Using a Business Organization Structure to Limit Your Farm’s Liability

In Maryland, 82.7 percent of agricultural operations conduct business as sole proprietorships (Census of Agriculture, 2012). As agriculture continues to evolve, however, producers should consider investigating all types of business organization structure for their operations to limit liability and...

A Closer Look At The Corporation Business Structure

Photo by Edwin Remsberg
This post should not be relied upon as legal advice In continuing our overview of business organization structures, I will be illustrating the corporation structure with you today. A corporation is a legal entity separate and distinct from its owners. A corporation is owned by its shareholders who...
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