Farm tax and legal
- This legislation contains substantial changes to the U.S. income tax system.
- This information describes the parts of TCJA that directly impact agriculture.
- This information is for producers with sales to cooperatives.
- Learn about crop insurance and tax considerations for when extreme weather impacts your crops.
View all articles in the farm legal issues series.
Choosing the right business entity
Factors to consider when selecting the type of entity for a farming operation.
Restrictions on farm entities
Restrictions and exemptions on business entity types used in agricultural production.
Using trusts: legal issues and options
Different types of trusts and the effect of the corporate farm act, agricultural homestead issues, and the qualified farm property deduction on trust assets.
Mortgages and contracts for deed
Legal differences between the use of real property to finance debt through mortgages and contracts for deed in Minnesota.
If a farm debtor is unable to perform under the terms of his real estate mortgage, the rights of the parties are determined by state law.
Termination of contracts for deed
If a farm debtor is unable to perform under a contract for deed, the rights of the parties are determined by state law.
Bankruptcy: The last resort
While the Bankruptcy Code may help alleviate your debt, the choice does not come without consequences.
Bankruptcy: Chapter 7 liquidations
The most logical choice for a farmer who cannot continue to farm and must terminate his farming operation.
Bankruptcy: Chapter 11 reorganizations
Allows a debtor to enter into an agreement with creditors under which all or a part of the business continues.
Bankruptcy: Chapter 12 reorganizations
Designed specifically for the reorganization of family farms.
Security interests in personal property
Considerations regarding the use of personal property—such as livestock, machinery, equipment and crops—as security for a loan.
Foreclosure of security interests in personal property
Options available to creditors with a security interest in personal property, and procedures under Minnesota law.
Rights of unsecured creditors
Legal remedies and issues surrounding unsecured creditors.