MyCorporation Pros & Cons
- MyCorporation’s biggest selling point is that they include annual report service for your first year in their Standard ($99), Deluxe ($199) and Premium ($299) LLC service packages. Very few competitors bundle in annual reports with formation service, so this is a really unique advantage.
- MyCorporation has served over a million businesses in their 20 years of operation. It’s a large volume of customers, and I feel that really speaks to their legitimacy and consistency.
- Their customer reviews are fantastic, as they have near-perfect scores on every site I could find with a significant number of online reviews.
- If you need some add-on financial services like income tax assistance or unemployment insurance for your employees, MyCorporation is a good choice. They’re one of the only companies in this industry that offers these features.
- MyCorporation doesn’t include registered agent service at their Basic or Standard levels, while IncFile and a few other providers include a full year of registered agent in all of their packages.
- Their $89 Basic package is a barebones offering, and really isn’t appealing at that price point.
MyCorporation Pricing & Features
With MyCorporation, you have 4 choices for LLC formation packages: Basic, Standard, Deluxe and Premium. Take a quick look at how they describe these packages on their website, then we’ll discuss details.
To figure out which one’s best for you, let’s take a look at the core differences between these 4 options.
Basic = $89 + State FeeWhat It Includes: Barebones option with formation filing essentials like a name availability search, and the preparation and filing of your formation articles. This package also only includes “limited” customer support.
Who It’s Right For: Considering the Standard package adds so much for just $10, I don’t think anyone should buy this package.
Standard = $99 + State FeeWhat It Includes: This package builds on the foundation of the Basic tier, adding annual report service for your first year. At this level, you’ll also receive unlimited support and 3 customizable documents (operating agreement, transfer ledger, membership certificates).
Who It’s Right For: Entrepreneurs on a budget who don’t want to sacrifice much in the way of features will enjoy the Standard package.
Deluxe = $199 + State FeeWhat It Includes: The only difference between Standard and Deluxe is the addition of registered agent service.
Who It’s Right For: If you like the Standard package, but also want registered agent under the same roof rather than working with another service provider, I think this package is a great option.
Premium = $299 + State FeeWhat It Includes: This package includes everything from the Deluxe package, but adds MaintainMyBiz services. MaintainMyBiz allows you to use 4 additional filings over next 12 months, including LLC operating agreements and foreign qualifications.
Who It’s Right For: If you think you can get $100 worth of value out of the 4 filings (stuff like corporate minutes and bylaws, doing business as (DBA) names, etc.), this isn’t a bad option. Personally, I prefer the Deluxe package.
In addition, you can add any of these 9 extra features on an a la carte basis:
- Federal tax ID number or EIN ($69)
- Custom operating agreement ($29)
- Online document storage ($24)
- Business license compliance package ($99)
- Tax deadline notices ($79)
- LLC membership kit and seal ($100)
- LLC seal only ($40)
- State income tax withholding ($99)
- State unemployment insurance ($99)
Recommended PackageWhile I do really like Standard as well, Deluxe seems to be the best option for most business owners because you’ll likely need registered agent service.
MyCorporation certainly has a lot of happy customers. No company can please everyone, especially when you’ve served over a million customers, but they come pretty close.
Reading through their reviews, the biggest selling points with their former customers seem to be the knowledgeable MyCorporation support agents and how quickly they work (turnaround times).
Customer Reviews Section Last Updated: 12-5-17
How MyCorporation Compares
With how much time I’ve spent analyzing these services, I’ve noticed some unquestionably offer more value than others. It all comes down to a combination of pricing and features. Who nails that sweet spot for you?
Considering they’ve served over a million customers, MyCorporation is certainly a popular option. It’s always a good idea to see how they stack up against the competition though, so let’s round out this MyCorporation LLC review by seeing how they compare to my personal favorite, IncFile.
Pricing: IncFile’s base package is just $49, a savings of $40 over MyCorporation’s cheapest formation package.
Features: IncFile includes a full year of registered agent service with all their packages, and their top two packages include custom operating agreements and tax ID numbers (EIN), features MyCorporation doesn’t include in any package. However, IncFile doesn’t include annual report service in any package like MyCorporation does in their top 3.
Turnaround Time: They’re roughly comparable in most states. Each of these companies is faster than the other in some individual states, so you might want to check and see if one of them is a bit quicker in your specific state.
Customer Support: I tested the customer support systems of both IncFile and MyCorporation, and I’m happy to tell you they’re both quite good. Their service reps are friendly and helpful. I will say that IncFile can sometimes take awhile to get in touch with, as I’ve had to wait 24+ hours to hear back from them at times.
Businesses Formed So Far: IncFile has helped form 150,000+ businesses since 2004, but even more impressively MyCorporation lays claim to over 1 million since 1995.
HERE'S A QUICK BreakDown
IncFilePricing Starts at $49
MyCorporationPricing Starts at $89
Frequently Asked Questions
Can I Just Form a Business Myself?
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Does MyCorporation Offer Ongoing Support?
Should You Use MyCorporation?