LLC Formations
15 min read

Do I Need an LLC for My Axe Throwing Business?

Are you considering starting an axe throwing business, but aren't sure how to get it off the ground? Setting up a limited liability company (LLC) is an important step to give your business the legal and financial protection it needs to succeed. With these five steps, you can set up your LLC quickly and easily, so you can get to throwing axes in no time.

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Written by:
Nick
Updated on:
August 2, 2023
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Table of Contents:

7 Steps to Setting up an LLC for your Axe Throwing Business:)

1. Pick a Name For Your Axe Throwing LLC.

When naming your Airbnb LLC, it is important to consider the potential impact it could have on your business. Your name should be catchy and memorable, while still accurately representing the services that you provide, whether that’s rental properties or travel experiences. Consider the following tips when making a decision:

  • Research the competition - Look at the names of other Airbnb businesses to get an idea of what is already out there. Are there any words or phrases that you find especially appealing?
  • Be unique - Aim for a name that isn’t already in use, either online or in real life. A good rule of thumb is to make sure there aren’t any other companies with the same name.
  • Think of a memorable phrase - If you’re having trouble coming up with something new and fresh, look for different adjectives and nouns to get your creative juices flowing.
  • Stay relevant - Your name should be rooted in the concept of travel and hospitality, which can easily be accomplished by including keywords such as “lodging”, “vacation” or “rooms''.
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2. Choose a Registered Agent For Your Axe Throwing LLC.

Choosing the right registered agent for your axe throwing LLC is an important decision that will have a considerable effect on the future of your business. The registered agent you choose should be reliable, well-experienced with the axe throwing industry, and able to provide you with the best advice for running your LLC. Here are some tips for choosing the right registered agent for your axe throwing business:

  • Research different registered agents and their expertise in the axe throwing industry.
  • Ask them questions about their experience and familiarity with state regulations related to axe throwing businesses.
  • Clarify what services they offer and if they have an emergency contact number.
  • Ensure they are committed to providing safe and efficient processes to enable your business to succeed.
  • Check how easily accessible they are and how quickly they respond to inquiries.

3. File Your Axe Throwing LLC Certificate of Organization.

Filing for a certificate of organization is a critical first step to establishing a successful and compliant axe throwing business. Depending on the business structure, there are different forms and documents to complete. To ensure your filing is accurate and valid, you should research the specific actions required for businesses of your type in your state or province. Before filing for your certificate of organization, consider the following points:

  • Confirm the type of legal structure you would like to use
  • Research and follow all laws, regulations, licensing requirements and tax obligations pertaining to your axe throwing business
  • Accurately fill out all required paperwork and submit with applicable filing fee
  • Keep a copy of all paperwork as well as confirmation of any filings or payment receipts
  • Reach out to industry professionals such as an attorney or accountant if you need additional support or guidance

4. Draft Your Axe Throwing LLC Operating Agreement.

Creating an operating agreement for an axe throwing business is an important step in setting up a successful business. This document serves as a legal contract between the owners of the business, outlining their roles and responsibilities as well as the financial obligations each party has agreed to. It is important to include key elements such as purpose of the business, ownership structure, capital contributions, tax reporting, liability protection, and dispute resolution. The agreement should also specify all local and national safety regulations that need to be followed related to axe throwing operations.

  • Specify the purpose of the business
  • Outline ownership structure
  • Define capital contributions
  • Include tax reporting information
  • Establish liability protection protocols
  • Provide dispute resolution process
  • List all applicable safety regulations related to axe throwing operations

5. Grab Your Axe Throwing LLC EIN.

Obtaining your Employer Identification Number (EIN) can be a critical and necessary step in launching your axe throwing business. An EIN is a unique number assigned by the Internal Revenue Service (IRS) to identify your business and its associated tax obligations. Depending on the type of axe throwing business you plan to start, you may need to register for an EIN before you can apply for business licenses or open a business bank account. Fortunately, obtaining an EIN is an easy process, and the IRS provides several ways to apply.

  • Visit the IRS website: You can apply for an EIN online with the Internal Revenue Service website by completing Form SS-4.
  • File by mail: Complete Form SS-4 and submit it to the IRS by mail from here.
  • File by fax: If you’re in a rush and have the required information, you can submit Form SS-4 through fax.
  • Contact IRS directly: You can apply for an EIN over the phone with an IRS representative. Call their Business & Specialty Tax Line at 800-829-4933.


Regardless of which way you choose to submit your EIN application, make sure to have all of your axe throwing business information ready (name, address, type of entity). The application is straightforward and shouldn’t take more than 15 minutes. Once submitted, you should receive your EIN from the IRS within 4 weeks.

Frequently Asked Questions:

Is it Legally Required to have an LLC for Your axe throwing Business?

The answer to this question depends on a few factors. Before deciding whether an LLC is legally required for your axe throwing business, you will need to understand the legal implications of running a business and consider the financial and legal protection that an LLC can provide. First, consider the state where your business will operate. In most states, it is not required to register an LLC (limited liability company) in order to do business. However, it can offer you certain advantages that you wouldn't otherwise enjoy if you simply operated your axe throwing business as a sole proprietorship or partnership. The primary benefit of registering your axe throwing business as an LLC is financial protection. If your business is sued, LLCs can shield personal assets from creditors and protect against potential liabilities. On a practical level, this means that if disaster strikes your business, such as being sued by an unhappy customer or being unable to pay suppliers or landlords, your personal savings and assets are protected from creditors trying to collect on any debts you have incurred in relation to the axe throwing business. An LLC also provides tax benefits for self-employed owners. Typically, if someone operates a sole proprietorship or partnership they must pay Social Security taxes of 15.3%. Having an LLC allows them to save significant amounts of money by filing their taxes as self-employed individuals instead of corporations. This means owners will only have to pay 15.3% of their profits as opposed to double that amount for corporations and partnerships. Additionally, having an LLC may allow owners to deduct certain expenses related to their axe throwing business like venue rental fees and protective equipment costs from their taxes. In conclusion, the decision whether or not to form an LLC for your axe throwing business depends on a variety of factors including location and personal risk tolerance level. It's important to weigh the potential risks and benefits before deciding whether registering as an LLC is the right choice for you.

What are the Tax Benefits for Having an LLC for Your axe throwing Business?

Having an LLC for your axe throwing business can provide numerous beneficial tax advantages. The first and most beneficial is that you can take advantage of 'pass-through taxation'. This means that the LLC will not be taxed as an entity, instead, all profits and losses are passed-through to the owners, or 'members', of the LLC. Here are some other benefits of having an LLC for your axe throwing business:

  • A flexible profit distribution setup; you can allocate profit and losses however you see fit.
  • Lower self-employment taxes when compared to operating as a sole proprietorship; because there is no distinction between owner and business.
  • Protection from personal liability; meaning your personal assets are not liable in case of any litigation.

What Does it Cost to Form an LLC For Your axe throwing Business?

The answer to this question depends on a few factors. Before deciding whether an LLC is legally required for your axe throwing business, you will need to understand the legal implications of running a business and consider the financial and legal protection that an LLC can provide. First, consider the state where your business will operate. In most states, it is not required to register an LLC (limited liability company) in order to do business. However, it can offer you certain advantages that you wouldn't otherwise enjoy if you simply operated your axe throwing business as a sole proprietorship or partnership. The primary benefit of registering your axe throwing business as an LLC is financial protection. If your business is sued, LLCs can shield personal assets from creditors and protect against potential liabilities. On a practical level, this means that if disaster strikes your business, such as being sued by an unhappy customer or being unable to pay suppliers or landlords, your personal savings and assets are protected from creditors trying to collect on any debts you have incurred in relation to the axe throwing business. An LLC also provides tax benefits for self-employed owners. Typically, if someone operates a sole proprietorship or partnership they must pay Social Security taxes of 15.3%. Having an LLC allows them to save significant amounts of money by filing their taxes as self-employed individuals instead of corporations. This means owners will only have to pay 15.3% of their profits as opposed to double that amount for corporations and partnerships. Additionally, having an LLC may allow owners to deduct certain expenses related to their axe throwing business like venue rental fees and protective equipment costs from their taxes. In conclusion, the decision whether or not to form an LLC for your axe throwing business depends on a variety of factors including location and personal risk tolerance level. It's important to weigh the potential risks and benefits before deciding whether registering as an LLC is the right choice for you.

What Liability Risks do axe throwing Businesses Face?

Axe throwing businesses face various liability risks, including personal injury, property damage, and wrongful death. Business owners should have a comprehensive liability insurance policy in place to protect against claims of negligence or other forms of liability. Additionally, business owners should establish safety policies and procedures to reduce their risk of injury to customers, employees, and bystanders. Proper monitoring and supervision of axe throwing activities can also help reduce the risk of injury or property damage.
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This post is for information only. You are responsible for reviewing and using this information appropriately. This content doesn’t contain and isn’t meant to provide legal, tax, or business advice. Requirements are updated frequently and you should make sure to do your own research and reach out to professional legal, tax and business advisers, as needed. We’re reader-supported. When you buy through links on our site, we may earn an affiliate commission.

Additional Resources for Starting an Axe ThrowingBusiness:

Starting an axe throwing business is a great way to capitalize on the increasingly popular pastime. Aside from the proper equipment and safety protocols, there are many additional resources available to help business owners get started. Whether you’re just starting out or looking to expand your current axe throwing business, these resources will help you succeed.

  • U.S. Small Business Administration (SBA): The SBA provides a wealth of information for small businesses, including the “Start a Business” guide. This guide will help you with everything from creating a business plan to finding financing.
  • Axemasters: Axemasters offers online training for both experienced and aspiring axe throwers. Axemasters instructors provide guidance on safe practices and techniques to make sure that your customers have a safe and enjoyable time.
  • Axe Throwing Professionals Association (ATPA): ATPA is the industry's leading organization for professional axe throwing businesses and coaches. Members have access to educational resources, networking opportunities, and guidance on running their businesses.
  • Axe Throwing League of America (ATLA): The ATLA is an organization that provides support for axe throwers of all skill levels. Their website provides information on upcoming events as well as resources for axe throwing leagues.
  • World Axe Throwing League (WATL): WATL hosts professional competitions and organizes global tournaments that bring together skilled throwers from around the world. The WATL also provides resources for league operators to help make their operations more efficient.
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Nick

Founder and CEO

I'm Nick, co-founder of newfoundr.com, dedicated to helping aspiring entrepreneurs succeed. As a small business owner with over five years of experience, I have garnered valuable knowledge and insights across a diverse range of industries. My passion for entrepreneurship drives me to share my expertise with aspiring entrepreneurs, empowering them to turn their business dreams into reality.

Through meticulous research and firsthand experience, I uncover the essential steps, software, tools, and costs associated with launching and maintaining a successful business. By demystifying the complexities of entrepreneurship, I provide the guidance and support needed for others to embark on their journey with confidence.

From assessing market viability and formulating business plans to selecting the right technology and navigating the financial landscape, I am dedicated to helping fellow entrepreneurs overcome challenges and unlock their full potential. As a steadfast advocate for small business success, my mission is to pave the way for a new generation of innovative and driven entrepreneurs who are ready to make their mark on the world.