Running a farm business is complex. Thorough business planning may help you access financing to start your farm or diversify your farm as you grow your business. Many types of financing for farms (from grants to traditional bank loans) will have different requirements such as what they will cover, amount available, deadlines, or interest rates. Your business may need employees. Labor laws dictate what is allowable — from hiring family members who are children, to paying employees by the amount harvested — and what recordkeeping is required. And like any business, farms are required to pay taxes. However, farms are also eligible for tax benefits and exemptions.
Continue reading FarmKingCounty.org offers resources for farming businesses