Sunday, July 4, 2021

MyCorporation Review

MyCorporation has been around for over 20 years. Since 1998, they’ve helped form and grow more than one million businesses across all 50 states.

Its popularity makes it one of the most trusted online filing companies in existence.

This industry leader makes it easy for people to form an LLC or corporation without having to hire an attorney or pay costly fees. In addition to the online filing services for business formation, MyCorporation also provides services related to trademark applications, DBA registration, copyright registration, registered agent services, and so much more.

MyCorporation knows what it takes to help small businesses succeed. So if you’re looking for a quick and cost-effective way to launch your startup, this will definitely be a great option to consider.

Is MyCorporation right for you? This in-depth guide will cover their services, plans, pricing, benefits, and real customer reviews to help you decide.

After reading this guide, it will be much easier for you to make an informed decision as it pertains to forming your LLC or corporation.

Ready to get started? Sign up for MyCorporation today!

MyCorporation Business Formation Services

As previously stated, MyCorporation offers a broad scope of services for small businesses. But the online filing services for business formation are by far the most popular.

These services can be broken down into three major categories—LLC services, incorporation services, and registered agent services. We’ll cover each one in greater detail below.

MyCorporation LLC Services

The LLC services from MyCorporation are arguably their most popular offering. Small businesses in all 50 states have used this online filing service to start an LLC from scratch.

By using MyCorporation to start your limited liability company, you’ll benefit from added protection and credibility for your business.

The process is very straightforward. Just head over to the MyCorporation website and complete the simple online questionnaire. They’ll just ask for more information about the business you want to form, like its name, location, and more.

After you complete the questionnaire, there’s nothing left for you to worry about. You can just sit back and relax while the experts at MyCorporation accurately handle the paperwork and filing with your state.

Once everything is finished, they’ll send your completed filings along with any necessary documentation related to your LLC.

Every LLC package from MyCorporation includes the following:

  • Articles of Organization — Legal document establishing your LLC’s existence
  • Operating Agreement — Outlines the ownership and membership duties of the LLC
  • Support — Filing experts to assist you through each step
  • Business Name Check — To verify your name’s availability with the state

When you use MyCorporation’s LLC services, you can rest assured knowing that your documentation is filed quickly and accurately.

Here’s a quick overview of the packages and prices for you to choose from:

  • Basic — $99 + state fees
  • Standard — $124 + state fees
  • Deluxe — $224 + state fees
  • Premium — $324 + state fees

The Basic plan comes with everything that we’ve already mentioned. The Standard package includes service for annual reporting to your state. If you choose the Deluxe package, you’ll also benefit from MyCorporation’s registered agent services (more on this shortly). It’s something you’ll need, so I recommend getting it directly from your business formation service.

For those of you looking for the highest service level offered, go with the Premium plan. This package includes a corporate maintenance package with up to four filings per year and annual auto renewing.

There are a lot of options you add onto the packages, some of which are really useful while others aren’t really worth it:

  • EIN — $79
  • Rush filing — $100
  • Custom operating agreement — $59
  • Elite corporate kit — $100
  • Business license compliance — $149
  • State unemployment insurance, income tax withholding, and sales & use tax — $200 each
  • Company seal + embosser — $40
  • DIY logo maker — $39.95

I only really recommend getting that EIN, though it’s a bit pricey. But you’ll need it and thus adding it on is a worthwhile convenience. Everything else isn’t essential, but some options may be more useful in some cases than others.

If you want to start an LLC, MyCorporation is a solid choice.

MyCorporation Incorporation Services

You can also use MyCorporation to incorporate your business. They offer incorporation services for C-Corps, S-Corps, B-Corps, and nonprofits. MyCorporation also provides entity incorporation for physicians, lawyers, and other licensed professionals.

The incorporation services are actually quite extensive compared to some of the other formation services on the market today. Most companies just offer incorporation services for C-Corps and S-Corps. Some will offer nonprofit incorporation as well. But it’s really nice to see such variety in MyCorporation’s services.

The incorporation services are fairly similar to the LLC services that we discussed earlier. All plans come with:

  • Articles of incorporation
  • Business documents
  • MyCorp Vault digital document storage
  • Unlimited customer support
  • Corporation name check

The packages and pricing are identical to the LLC rates as well.

Annual reports come with the Standard plan, and registered agent services are included starting at the Deluxe level. If you want the corporate maintenance package with four annual filings beyond the initial setup, you’ll need to upgrade to the Premium package.

MyCorporation also has a corporate kit that includes a steel hand-held embosser, a gold-embossed binder, corporate minutes, waivers, sample bylaws, and 20 corporate stock certificates. You can purchase the Elite Corporate Kit for $100.

You can also file for your EIN at the same time for $79 and opt for rush filing for an additional $100. There are plenty of other upsells and add-ons—few to none of which will be necessary for most of you.

If you’re ready to incorporate as a C-Corp, S-Corp, B-Corp, or nonprofit, look no further; MyCorporation has you covered.

MyCorporation Registered Agent Services

Every LLC and corporation must have a registered agent. You could technically name yourself as the registered agent for your business, but that’s not advisable. If you’re using MyCorporation to form your business, it makes sense to use them for registered agent services, too. Getting all of these services from one place will make your life much easier.

Your registered agent from MyCorporation will be the state’s way to officially communicate with your organization. From accepting legal documents on your behalf to maintaining regular business hours, these services are available in all 50 states.

In addition to performing the duties of a registered agent, MyCorporation will also handle all of the paperwork required to name them as your registered agent. All you need to do is sign up, and they take care of the rest.

By using MyCorporation to act as your registered agent, they’ll help you maintain privacy and separation from the public. Most importantly, your personal information will stay protected.

They’ll accept legal documents outside of your business and receive service of process for your LLC or corporation during any legal proceedings.

The registered agent services start at $120 per year. You can add these services to any of the business formation packages for the same price. Alternatively, you can get these services included in your plan at no additional cost when you sign up for the Deluxe or Premium packages. These start at $224 and $324, respectively.

If you’re using MyCorporation to form your LLC or corporation, make sure you add on the registered agent services. Otherwise, choose a plan (Deluxe or Premium) that includes these services with the package—it’s something you need to have.

Overall Pricing and Value

We’ve mentioned some pricing a handful of times throughout this guide. But let’s take a closer look at the exact packages offered by MyCorporation. Regardless of the entity type you’re forming, these will be your options:

Basic — $99 + state fees

  • Articles of incorporation
  • Business name check
  • MyCorp Vault document storage

Standard — $124 + state fees

  • All Basic plan services
  • Annual report

Deluxe — $224 + state fees

  • All Standard plan services
  • Registered agent services

Premium — $324 + state fees

  • All Deluxe plan services
  • MaintainMyBiz four business filings per year

The registered agent service on its own starts at $120 per year.

In terms of value, MyCorporation isn’t the cheapest or most expensive business formation service on the market today. The entry-level plan starts slightly higher compared to popular alternatives.

I’d recommend the Deluxe package, at a minimum. You need to have a registered agent, so getting this bundled in your formation plan makes the most sense.

User Experience

Using MyCorporation is easy. Even if you’ve never gone through this process before, you won’t have trouble figuring it out.

The way everything is displayed on the website is extremely easy to navigate and comprehend. It’s as simple as picking a state, choosing your entity type, and selecting a plan.

From there, you’ll just need to fill out some basic form fields related to you and your business. Here’s a sample of what you can expect:

They ask a few more questions than some of the other business formation services that we’ve looked into. But the whole thing can be completed in roughly ten minutes or so.

If you’re unsure about what the form fields mean, just click on the question mark icons for an explanation. This should clarify things for you as you complete the forms.

Once you’re done, there’s nothing for you to do except wait. MyCorporation handles the document preparation and filing. All of your documents are available online when the process is complete and you’re officially incorporated.

Customer Support

Customer service representatives from MyCorporation are available by phone or email from Monday to Friday, 7:30 a.m. to 4:30 p.m. Pacific.

They’re really helpful if you need help or have questions during the sign-up process. But even after your business is formed, you’ll be able to get unlimited customer support from MyCorporation. This level of service comes standard with all of the formation packages.

Customer service is always something that needs to be evaluated as you’re shopping around and reviewing different business formation services.

It may not be today, but the day might come when you have a question or need assistance. For something as important as your business, it’s critical that you’re able to get an answer as fast as possible with minimal headaches.

Final Verdict

Do we recommend MyCorporation? In short, yes.

There’s a reason why more than one million businesses have formed with this platform. They’ve been an industry leader in this space for decades, and appear to continue this success in the foreseeable future.

MyCorporation offers LLC services, incorporation services, and registered agent services, business license services, DBA names, and more.

If you want a fast and simple way to form your business online, MyCorporation should definitely be on your shortlist.

from Quick Sprout

No comments:

Post a Comment