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The financial section of a farm business plan determines whether your business idea is viable and will most likely be required if you are seeking a loan or other financing.
An important aspect of securing the future of your farm business is to establish the right form of business ownership. How you structure your business could affect your taxes, your ability to make timely decisions, your liability, and your farm succession plan.
Laws and regulations touch on almost every aspect of running a farm business. Some regulations may require you to obtain a permit or license for certain activities. Some of the most common regulations and licenses that apply to small-scale farm businesses in Oregon.
Managing risk involves identifying, evaluating, and prioritizing risks, and then taking actions to reduce those risks or to address your liability.
Farmers running a for profit business have special tax forms required of them when filing with the IRS. Any farm that receives income from the sale of products raised on the farm (or bought for resale) fills out a Schedule F in order to report net income gain or loss from the farm in any one tax year.
A list of helpful organizations serving Oregon.