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Definition for

Corporate Farm

A form of farm ownership that is a separate legal entity from the individual owners of the farm. Tax and other reasons have encouraged conversion of some family farms to Chapter S corporations, where stock is held by family members. The 2002 Census of Agriculture reports 3.5%, or about 74,000, of the 2.129 million farms in the nation were incorporated farms, and 90% of these were family held. By contrast, about 1.910 million (90%) were individual or family-owned operations and about 130,000 (6%) were partnerships.

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