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Article: South Dakota Still Wrestles with Incorporated Family Farms.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- August 22, 1999
- Author:
CopyrightCOPYRIGHT 1999 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Knight Ridder/Tribune Business News
Aug. 22 -- GROTON, S.D. -- Jay Swisher and his wife's family, the Clarks, weren't trying to be trend-setters back in 1959 -- it's just that converting the family farm into a family farm corporation seemed a good business decision.
"As far as I know, we're the first farm corporation in South Dakota. Other corporations might have owned land, but they weren't true farm corporations," said Swisher, 78. "There are so many things you can do with a corporation. It's a more usable organization than a partnership or a sole owner."
So many South Dakotans learned that same lesson that the state Legislature passed a law ...