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The Right Business Structure for Reducing Legal Risk and Leveraging Opportunity - Shared screen with speaker view
Molly Baldrige
21:10
Molly, President, Southwest Grazing, Inc.
Tech Support - Leah PW (she/they) - Quivira
21:20
Now that’s impressive, Rachel
Thistlethwaite, Rebecca D
21:40
I am Rebecca Thistlethwaite, Director of the Niche Meat Processor Assistance Network. I am an expert in understanding the complexities of local and regional meat processing.
Molly Baldrige
22:13
Used to be expert in ag mortgage lending, appraisals, knitting, getting 3 kids through college
Willard Heck
22:56
I’m Willard Heck of Weaver Ranch and Grasslans Charitable Foundation and I’m the details wrangler for both organizations.
Notetaker - Eva Stricker
23:13
Eva Stricker, Quivira Coalition. I’m an expert in biocrust biogeochemistry :)
Staff - Leah Ricci
23:24
Yeah I think so
Louis Martin
23:30
I'm Louis Martin, General Manager of Round River Resource Management, LLC providing regenerative land and livestock management services to land and livestock owners. Jack of all trades and master of none.
Wendy Johnson
23:34
I am a farmer/owner/steward of Jóia Food Farm located in Iowa. I don’t feel like an expert in anything, I’m always learning. But I can be an expert in making origami cranes.
Rhoby Cook
23:36
Rhoby Cook, Holistic Management Certified Educator Trainee, becoming more expert at applying HM Framework to many situations. Also knowlegeable about operating a small non-profit in California.
bscotti
24:00
I’m Brenn Scott, Quivira NAP Apprentice for Badger Creek in the mountains of south central Colorado. I’m an expert in being endlessly curious—especially about regenerative ag.
Pam
25:19
I am Pam and I had a previous career and was an expert in GPS and geospatial technologies. I consider myself an expert in educating folks on complex topics and translating them into simple ways. I am eager to convert that into the community of HM, regen and bison.
Ashley Giles
25:37
Hello. I am Ashley. I am a horticulturist and restoration ecologist. I am an expert in THE ecosystem, specifically that of wetlands and rivers in Colorado
Molly Baldrige
32:03
They could split up. They could very different expectations
Louis Martin
32:12
They might fall down the hill
Rhoby Cook
32:29
Who are the decision makers and who can veto decisions?
Ashley Giles
32:31
Because it’s Jill’s family’s land, they will disagree on land use
Sarah Gleason
32:53
Financial disputes, One party wants to stop ranching/leave the farm
Wendy Johnson
43:55
We should have a workshop on business relationships and communication.
Wendy Johnson
01:01:02
Are there templates for these different documents i.e. communication policy
Staff - Leah Ricci
01:03:05
https://farmcommons.org/resources/farmers-guide-business-structures
Thistlethwaite, Rebecca D
01:12:54
Do officers have to be paid?
Thistlethwaite, Rebecca D
01:13:31
Which corp structure would allow you to take on non-voting investors?
Thistlethwaite, Rebecca D
01:15:30
Also, which structure makes it easiest to sell the business in the future? Does the biz structure matter for sales?
Pam
01:18:52
friend referenced, yes
Wendy Johnson
01:22:22
And c corp in this graph? How would that look?
Thistlethwaite, Rebecca D
01:23:09
Not enough
Rhoby Cook
01:23:17
Can you choose differently from year to year?
Molly Baldrige
01:24:38
Found through word of mouth.
Thistlethwaite, Rebecca D
01:25:01
We had a customer who was a bookkeeper. But we never worked with an accountant. That was our mistake.
Molly Baldrige
01:25:30
Pay between $1800 basic year and $3800 year we did conservation easement.
Pam
01:25:38
My answer to her questions - a neighbor provided name of an accountant they used and liked. So referral. I love it because they answer my questions and file my taxes.
Dylan Jones
01:26:01
Could you please explain the “franchise tax” in the case of CA LLC’s and corporations?
Thistlethwaite, Rebecca D
01:26:26
How easy it is to switch from being a sole proprietorship to being an LLC?
Pam
01:26:50
Always a risk that I put my confidence in the accountant without me knowing the details.
Rhoby Cook
01:26:54
Having a professional do your taxes is the best time-saving investment you'll ever make.
Wendy Johnson
01:27:17
Agree with Rhoby!
Molly Baldrige
01:27:30
It helps if you keep great records with a program like QuickBooks
Pam
01:27:42
agree with Rhoby also.
Staff - Nameh (she)
01:30:04
1030a (mountain time)
Staff - Nameh (she)
01:32:52
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Staff - Leah Ricci
01:34:54
For folks who raise, and then process their own animals and sell meat, I think it’s fairly common to separate out the land/animal management and the meat businesses
Thistlethwaite, Rebecca D
01:36:48
and yet we see that all the time
Emily Cornell
01:37:03
Is it wise to put the land in an LLC when there are multiple owners with only one of the owners leasing it to run cattle?
Pam
01:38:25
I'm curious to the non profit option
Lucille R. Contreras
01:38:55
same here,
Rhoby Cook
01:39:13
non profits may operate for-profit businesses as long as the business is "substantially related" to the non-profit purpose.
Thistlethwaite, Rebecca D
01:42:03
I am interested in providing more info. to our meat processor members about different business entities. So that will be my next step.
Thistlethwaite, Rebecca D
01:44:25
Which biz structure makes it easiest to sell your farm business?
Staff - Nameh (she)
01:47:49
Join Zoom Meeting

https://us02web.zoom.us/j/85109551298?pwd=bnVPU1NaRzRkYXMzU0FlSkNXWVhWdz09#success

Meeting ID: 851 0955 1298
Passcode: 081296

One tap mobile

+13126266799,,85109551298# US (Chicago)
+19294362866,,85109551298# US (New York)

Dial by your location
        
+1 312 626 6799 US (Chicago)        
+1 929 436 2866 US (New York)        
+1 301 715 8592 US (Washington D.C)       
+1 346 248 7799 US (Houston)      
+1 669 900 6833 US (San Jose)        
+1 253 215 8782 US (Tacoma)

Meeting ID: 851 0955 1298
Pam
01:48:35
Thank you
Thistlethwaite, Rebecca D
01:48:36
thank you
Tech Support - Leah PW (she/they) - Quivira
01:48:38
Bye thank you!