Is It Right For You? (Pros, Cons & More)
Are you ready to start an LLC and considering using an online provider? Put off by all the legalese and red tape? Or maybe you’ve noticed how poorly designed many official state resource sites are, leading you down a frustrating road.
To supplement your own research, my team and I spend hundreds of hours poring over the details of all the major LLC formation services. We like to think we’re as objective as possible, but after reviewing all these services in detail, we obviously have favorites.
The point of these reviews though isn’t to push my personal preference, but to help you understand which service is right for your unique business. Keep that in mind as you read this MyCorporation LLC review. By going over pros and cons, pricing, features and more, you’ll discover if they’re a good fit, or if you need to look elsewhere. Enjoy!
Competitive Pricing: Their Basic incorporation package starts at $69, which is on the low-end of comparable services. Many online filing companies’ rates start at $99 or higher.
Experience: MyCorporation’s website boasts that they’ve served over 1 million businesses so far. Impressive, and gives a sense of real stability and professionalism.
Ongoing Support: Once you’ve incorporated, MyCorporation offers continued support through their fantastic business tool, MaintainMyBiz. This service starts at $250 per year, and is automatically included in their Premium package. If you’ve got room in your budget, using this tool will all but erase the chance you’ll get any compliance surprises from the state when a document, license, permit, etc., needs to be filed or updated.
Education: Their Learning Center is filled with well-produced eBooks, webinars, guides and other resources that could come in handy whether you’re launching or maintaining your business.
Worry-Free: You don’t need to know anything about the legal aspects of incorporating a business — they’ll ask a handful of questions about your business then take care of all paperwork.
MyCorporation doesn’t offer free Registered Agent services in their Basic or Standard packages, while IncFile and a few other services include 1 year free in all of their packages.
Most companies in the incorporation business offer three package tiers, but MyCorporation has four: Basic, Standard, Deluxe and Premium. Below is a screenshot with the details.
While the pricing for MyCorporation is extremely competitive, they’re not the most affordable in the industry. That said, if you’re on a tight budget while starting your business, IncFile (which is $20 less) might be worth looking into.
Quick Note: The chart shows pricing and features for forming an LLC or Corporation and the state filing fees will differ depending on where you are forming a business. Also, MyCorporation has packages with different features for nonprofits as well.
As you can see, the Basic plan really lives up to its name. MyCorporation even refers to it as a “Limited” package, and for the extra $30 it costs to jump up to the Standard tier, we think it’s a no-brainer. The Standard package includes an operating agreement and annual reports — both of which are necessary for most businesses — along with a transfer ledger and member certificates.
The difference between the Standard and Deluxe packages is as simple as can be: Deluxe includes registered agent service, while Standard does not. That’s a strong value for $100, although the price to add it on to the Standard tier if you do end up needing it is a very reasonable $120. (Most sites charge $149-159 for registered agent service!)
The Premium package is another $100 on top of the Deluxe tier, and the added benefit is MyCorporation’s MaintainMyBiz service, which costs $250 to add on to any of the other packages. You could look up MaintainMyBiz yourself, but why bother when we’re here to do it for you?
Basically, MaintainMyBiz is a package deal on future filings. Beyond your initial business filing, you have three more document services at your disposal — at any time in the next full year — for no additional charge. These services include 16 options, including a corporate seal, a fictitious business name (DBA), stock certificates. Outside of a couple exceptions — like the DBA — most of these services aren’t worth a whole lot, or aren’t really applicable to many businesses.
Final Thoughts On Pricing
MyCorporation claims the Deluxe package as their most popular, and that doesn’t surprise us one bit, as it does seem like the most bang for your buck. It has enough features to be well worth the extra $100 it costs over the Standard tier, and doesn’t include anything that might be unnecessary, like the Premium level.
All in all, their pricing is extremely reasonable. Highly recommended.
MyCorporation reviews are pretty standard for the heavy-hitters in the online incorporation industry. They’ve got 170 excellent reviews on Trustpilot, as well as 16 neutral or negative ratings from users who had billing issues or trouble navigating their website.
To be frank, no matter how user-friendly they make their platform there will still be people that just aren’t computer-savvy. Especially when a company like MyCorporation has formed over 1 million businesses, someone is bound to have an issue.
In terms of pricing and customer service, MyCorporation’s reviews are almost exclusively 5-star. We’ve tested out their chat support and it was very quick and pleasant.
For a quick breakdown of what the last 7 MyCorporation customer reviews look like (as of May 2, 2017), we’ve added the most recently published:
MyCorporation has come a long way since breaking ground in 1997. Their customer service, pricing and overall features have steadily progressed and kept them competitive over the years.
Again, their reviews are pretty comparable to those of their major competitors, and their $69 Basic package price falls on the low-end of the spectrum for online filing.
However, if your budget is REALLY tight you might consider IncFile. They’re one of MyCorporation’s top competitors whose pricing starts at only $49 while offering very similar features.
On the other end of the spectrum, Harbor Compliance is another top notch option because they offer a comprehensive “Fully Managed Service” where you don’t have to worry about the paperwork-side of incorporating a business. This service is ideal if you have a complicated setup and need to form your business with a 1-on-1 specialist.
Pricing Starts at
100,000+ Businesses formed so far
Anyone starting a business on a budget and need quick formation
Pricing Starts at
1 million+ Businesses formed so far
Anyone looking to work with a company that has a solid track record
Pricing Starts at
10,000+ Businesses formed so far
Anyone wanting top-to-bottom formation and ongoing compliance
Yes, but it’s tricky and tackling this without any legal expertise is risky - the risk rises as the complexity of your company does! We highly recommend using an online filing service if you’re unfamiliar with the legal terrain and can’t afford an attorney. It’s the next best option for bootstrapping entrepreneurs. And just so you know, we have great resources like our How to Form an LLC guide, or our How to Form a Corporation guide, which walk you through the process step-by-step.
Yes, compared to some of their competitors’ websites MyCorporation’s is very user-friendly. Furthermore, they’ve optimized their process to minimize the chance of any surprise charges. With MyCorporation you should totally understand what you’re getting before making the actual purchase.
Sometimes, yes! If you have a valid coupon or promotional offer from MyCorporation you can validate it on the “Review Cart” page before you check out.
MyCorporation’s MaintainMyBiz services are excellent for ongoing support, but they do cost extra. Whether or not you choose to use MaintainMyBiz, MyCorporation’s customer service reps are available via phone or live chat on weekdays 7a.m. to 5 p.m. (PST).
If you’re not pleased with your service, MyCorporation says they’ll make every effort to resolve things. If your issue continues, they’ll refund your money as long as it’s within 60 days of purchase. (Learn More)
MyCorporation is a solid service with a very proven track record. Final verdict, we trust MyCorporation and feel comfortable recommending them.
But if you'd like to do a little more research before this big decision, we highly recommend checking out an overview of your top options. To do so, click the green button and be taken to our comparison guide.Visit MyCorporation Or Visit Top Options