Q. What
are family corporations?
A. Most corporated farms are family-owned
businesses have incorporated for tax, liability, or succession
reasons. The U.S. Census of
Agriculture classifies corporate farms in two ways:
by whether the corporation is family-held, and by the
number of stockholders (10 or less, or more than 10).
Family-held corporations have more than half of their
stock owned by people related by blood or marriage. While
most farm corporations are family-held firms with 10 or
fewer stockholders, most popular interest in "corporate
farms" probably attends another category—nonfamily
corporations with more than 10 stockholders, a category
that covers almost all large diversified manufacturing
and services firms with agricultural interests.
|
