Equine Business Law
Choosing to enter into the equine industry can be a daunting task, choosing which particular type of business entity to form shouldn’t be. Depending on state law, equestrian clients have a number of different options to choose from when forming an equine business.
A properly formed business entity can offer asset and liability protection, help build credibility, and protect client reputation. There are, however, a number of considerations to contemplate when choosing which type of business to form, some include:
- Record keeping demands;
- Tax implications;
- Exposure to liability;
- Who, and how many other parties will share ownership interests;
- Whether the business will be a public benefit or a charitable cause;
- Whether any owners or shareholders will also be employed by the business;
- What type of financing will be utilized during formation;
- The amount of personal assets in need of protection;
- Whether a professional license is required to operate; and,
- What type of, if any, benefits will the company offer it’s employees.
For anyone contemplating forming an equine business, Kelly can help guide you through these, as well as other considerations, to help determine which particular type of entity will best suit your business’s goals.
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I personally know the challenges that come with both horse ownership, and equine businesses. Let's work together to solve your problems.