it can be set up as a personal business but there are some requirements that come with that. Also, to be a business you have to show a profit at it 2 of every 7 years. I dont know but I got a feeling there are only a handfull of fisherman in this state that actually make $$ fishing tournaments. Most I know just blow any winnings they make on gear and things like new motors (RC5, Drew, I mean you LOL). No seriously it can be done, I know some that do.