MyCorporation LLC Service Review (Our Full Analysis 2021)
Ranked #6 On Our Best LLC Service List
MyCorporation is a great LLC formation service with lots of packages and services to offer.
They’re quite an old company founded in 1998. And probably considering their longevity they’re not shy to charge higher than average prices.
They do have what most other LLC creation companies have as well, although we’re a bit concerned about their pricing points.
Nevertheless, we urge you to continue to read below and find out whether MyCorporations is the best LLC formation partner for you adn your business.
Sneak a Peek: MyCorporation Got 7/10
With its goal to make starting and maintaining business easier for its customers, MyCorporation turned into what it is right now – a leader in business formations, trademarks, copyrights, and more. However, before you hit that Get Started button and avail their services, it is best to learn more about this company first.
In this review, you will be immersed in the world of MyCorporation, its services, and its clients’ insights for you to fully understand how it works and if it works.
Before that, it is important to have an initial look of what to expect from this in-depth analysis. The following are the factors that we considered as they matter most when it comes to companies like MyCorporation.
Main Review Points:
- Cost Efficiency
- Customer Service
- Ease of Process
- Service Speed
This review also highlighted these points to help you come up with the most appropriate decision. And after a thorough evaluation, we decided to give MyCorporation 7/10.
Although MyCorporation’s services are quite similar to those provided by other expanding service providers, it does have one element that makes it distinct which will be further elaborated later on.
In terms of its plans’ prices, if compared to other LLC formation services, they are quite questionable. The cost of their basic service goes beyond the standard. Also, an additional cost is charged for various services that are supposed to be free, such as their $34 shipping and handling fee.
Therefore, if you are a start-up, you might find MyCorporation too expensive as every service raises the entire cost.
Despite these, it still deserves a chance. Get to learn more below.
What Is MyCorporation and How Did They Start?
After its establishment in 1998, MyCorporation paved its way towards being a renowned and leading partner of Americans in setting up and growing a business. For more than two decades, it remained true to its mission to provide its services and expertise to those who are interested to invest their money in business but not interested with too much hassle and risks.
From Calabasas, California, MyCorporation started to expand its network until it finally unlocked its goal to operate in 50 states in the country. Due to its years of experience in the industry, it maintained its long term customers, invited more, and helped put up a million of organizations, corporations, and LLCs (Limited Liability Companies) all over the United States.
My Corporation’s reach grew even wider through its website that allows its customers to easily communicate to them and request for their services. Just provide all the information asked on their website, a few more clicks then, they will file your formation paperwork and work on the rest for you.
Entrepreneurs who avail their services get to enjoy benefits such as business maintenance, rush filing, 24/7customer service support, and various add-ons. Although these benefits and add-ons are budget-based and might need a few upgrades, each plan is still packaged wisely to attend to your needs.
MyCorporation Service Plans, Their Features and Pricing
1. Basic Package ($99)
Overview: A fantastic starter bundle that gets you up and running quickly. This is strongly suggested for small firms and fresh entrepreneurs looking for the necessities with no extra features.
The Basic Package is MyCorporation’s most economical option. You will find almost everything you need to form an LLC and get it off the ground here, especially when it comes to paperwork, filings, and other essentials. This package will cost you $99 plus state fees.
Inclusions in the Basic package:
- Articles of Incorporation
The rights and duties of company partners and of the company’s clients are outlined in the articles of incorporation. Your company name, address, and service of process agent must be indicated on it as well.
MyCorporation will be responsible for assisting you in filing your articles of incorporation with the proper authorities. You will also be assisted in filing other crucial business documents, which speeds up the process.
- Name Availability Check
MyCorporation will look up official records for the availability of the name you want to use, making sure that you are in the clear. The name availability check will save you a lot of time and effort in the long run.
- Document Storage
The MyCorp Document Storage is one of the distinct assets of the platform. MyCorporation saves all of the paperwork linked to your company’s formation and incorporation in one location, available at all times and from anywhere as long as you are subscribed to one of their plans.
2. Standard Package ($124)
Overview: In general, the standard bundle adds only one service to the mix. However, this is not a disadvantage because it is a service that you will require in the future. This is an excellent idea for businesses who want to stay on the right side of the law.
This is the second MyCorporation creation package, and it includes all of the benefits of the basic plan plus an important feature that you will need if you want to operate lawfully for a long time. It will cost you $124 plus state fees.
Inclusions in the Standard package:
- Everything from the basic package, plus…
- Annual Report
MyCorporation will keep track of your annual report deadline and ensure that it is completed and filed in time. This service will be provided to you for free during your first year. It will automatically renew for $99 per year, but you have the option to cancel at any time.
3. Deluxe Package ($224)
Overview: The deluxe bundle assures that you never have to deal with the authorities or the courts. This package is ideal for entrepreneurs who want to grow their companies or incorporate an LLC or company with registered agent service included.
This package costs $224 plus state fees and includes everything available in the first two service categories, plus an additional “necessity” that will undoubtedly put your company ahead of the competition.
Inclusions in the Deluxe package:
- Everything from the standard package, plus…
- Registered Agent Service
MyCorporation, as your registered agent, will be responsible for receiving and transmitting all critical paperwork on your behalf, as well as maintaining the confidentiality of your information. Moreover, when it comes to court filing or an IRS inquiry, your registered agent will represent you and make sure you receive and respond to them on time.
Throughout the lifecycle of your business, you will require a registered agent so it is best to have this renewed every year for only $120.
4. Premium Package ($324)
Overview: The premium package protects businesses that want to keep running their operations and working together as smoothly as possible. This is suggested for established businesses and entrepreneurs who want to ensure that their LLC or company maintains mandatory compliance filings.
This is MyCorporation’s DNA, as it contains everything they have to offer. It costs $324 plus state fees, and it includes everything from the first three packages plus a MyCorp-native add-on.
Inclusions in the Premium package:
- Everything from the deluxe package, plus…
MaintainMyBiz is another unique service that includes up to four distinct business accessories and filings throughout the first year of your company’s formation.
In addition, you get to choose: a corporate seal, an S corp election, amendment, stock certificates, membership certificates, corporate minutes and bylaws, LLC operating agreement, certified copies, apostille, dissolution, reinstatement, certificate of good standing, and more.
Thus, to renew this service, you will have to pay $250 annually after the 1 year free trial.
In-Depth Review of MyCorporation Features and Their Service
After getting to know MyCorporation, we used these features below that are much regarded by clients in choosing a business formation company to grade MyCorporation and find out if it is the right partner for you.
Cost Efficiency: 5/10
MyCorporation may have a package that meets your needs, depending on your company’s demands. At $120 for each year of registered agent, they have a very affordable price point. However, there is one important disadvantage: their registered agent service is only available in higher-tier subscriptions.
Because a registered agent is not included in any of their lower-cost packages, you will likely have to pay more to incorporate with MyCorporation than you would with the alternatives.
As an incorporation provider, MyCorporation has a proven track record that makes it easy to trust. Their service could hardly be questioned since it launched for business in 1998 and has assisted over one million clients in forming and managing their enterprises.
Customer Service: 9/10
MyCorporation is reachable via phone and email. Regardless of the method you use, the employees are courteous, prompt, and detail-oriented in their responses.
If you are not satisfied yet, you can contact MyCorporation CEO Deborah Sweeney through her Twitter and Google+ accounts anytime.
Ease of Process: 9/10
The procedure is simple and convenient with MyCorporation. The application was simple to complete and took only approximately ten minutes.
Service Speed: 6/10
MyCorporation is not very clear about how long it would take to incorporate your corporation or LLC. It could take a few days or six weeks, depending on your location but no specific answer.
Regarding their FAQs, mostly are just 1 to 2-liners that are not that helpful and informative so it would really tell you to contact their customer support instead.
MyCorporation scored 7 out of 10!Visitwww.mycorporation.com
MyCoporation’s Unique Features and Add-ons
What Makes MyCorporation Stand Out?
Indeed, the prices of plans offered by MyCorporation are higher than that of other providers available online. Thus, it has two features that we and its customers find notable as they set MyCorporation apart from its competition.
As said earlier, MyCorporation offers a yearly business maintenance service, called MaintainMyBiz. This service is an assurance that MyCorporation is future-ready. This proves that their length in service translates to the services they offer and that you can entrust to them the future of your business. Once you are officially subscribed to them and your LLC is incorporated, simply select the filings necessary in your business and it will be filed.
Another unique feature of MyCorporation is approachability. Its CEO is reachable online (quite awesome). She made both her Twitter and Google+ available on their website so that unhappy and unsatisfied customers could contact her directly to discuss their concerns, suggestions, and inquiries.
What Additional Services does MyCorporation Offer?
As previously mentioned, MyCorporation’s services are not limited to what were included in their plans. They are certain that you have specific needs for your business formation and growth. With that, the next sections lined up these add-ons that you can avail once you sign up for their services.
- Canada Corporation: $247.59
If you are interested in expanding your business to Canada, or if you are from Canada and want to start a business there for the first time, MyCorporation is the key. They will take care of the paperwork and of everything necessary to put up your business. They will be responsible with all paperwork and tasks such as asset protection, and tax benefits.
- DBA Filing: $129
To obtain a trading name, you must file a Doing Business As (DBA) application. Whenever you use the name, regulators and authorities will be aware of who you are and what you are doing.
When you want to get a trading name, MyCorporation can assist you with a flawless DBA file as long as you provide complete information to start the process.
- EIN Setup: $79
Another critical thing to have as soon as you start your firm is an Employer Identification Number (EIN). The Internal Revenue Service (IRS) and your state tax authorities use your EIN to identify you.
However, dealing with the IRS is never simple. So on your behalf, MyCorporation will assist you in completing the procedure and obtain an EIN.
- Business License Compliance: $149
The right license will depend on your activity, industry, and even the city and state in which you establish your company. With so much variety, MyCorporation will understand the confusion and the hassle. To save you from these, MyCorporation will examine your business structure and give you only the forms you will need to stay in compliance with regulators.
- Minutes and Bylaws: $99
When you avail this, bylaws and minutes templates will be provided by MyCorporation. With these in hand, it would be a lot easier for you to run and manage your business without any problems. These will even make it easier for you to run your business and will make things go a lot faster in general.
- Articles of Amendment: $129
Once you submit articles of amendment, you are explicitly describing the changes to your firm and ensuring that everyone, from the authorities up to the customers, is aware of the situation. MyCorporation, meanwhile, will make sure to fill and file articles of amendment to reflect your company’s developments.
- Articles of Dissolution: $129
You will need to file with the state and notify them of your dissolution, regardless of the reason for your company’s closure. If you fail to do this, you could face a variety of penalties. To put an end to this, MyCorporation will assist you with all elements of your dissolution file and guarantee that it is completed successfully.
- Business Withdrawal: $129
If you expand your business to another state or country and suddenly decide to close it, you will have to file a business withdrawal to inform the foreign state or country authorities that you are no longer doing business there.
It is imperative to note that establishing your company in a foreign country may subject you to additional taxes and charges. So, it is best to seek for MyCorporation’s experts to assist you with the filing process and guarantee that you have all you need to withdraw smoothly.
- Business Reinstatement: $99
Many people are unaware that a business can be revived even after it has been involuntarily dissolved. Companies frequently go through hard patches and must resurface in the hopes of becoming bigger and better. With MyCorporation’s business reinstatement service, you receive forms and simply fill out your reinstatement papers, submit them to the appropriate authorities, and calculate any fees, if there is any that you owe the state.
Pros and Cons of MyCorporation
- Standard Bundle
The standard plan that MyCorporation has is, for a fact, not a bad deal. If you are a newbie, this could be the best choice because of the annual report service tied with it. For this combination of features, this bundle is a great value.
- Length of Service
Since 1998, MyCorporation has assisted over one million entrepreneurs set up their businesses. This is a record that MyCorporation has, which explains why it continues to capture the hearts of new clients on a daily basis.
- “FREE” Business Consultation
In case you are unsure of how and when to start your business, you can also depend on MyCorporation as it offers a business consultation service. With this, you can plan wisely and learn more about MyCorporation before putting up your business.
- Additional Financial Services
Most competitors do not offer financial services as optional add-ons to LLC formation, but MyCorporation is an exemption. Such additional services they offer are income tax and unemployment insurance. Although not all firms require these, it is still best to have MyCorporation as your go-to whenever you need such services.
- Plan Pricing
If your budget is a bit tight, MyCorporation may not be for you at this moment. MyCorporation is also known for its expensive plans. As explained earlier, their basic plan costs $99 which does not include shipping fee yet. This is not quite “basic” compared to other providers that offer $90 or less with more services.
- Registered Agent Service
Another service that is hard to get when you avail MyCorporation’s bundles is a registered agent service. Only those in the highest plan can avail this so if you are just a start up, you will need a huge deal of budget.
- Shipping Fee
Unfortunately, MyCorporation’s shipping fee, $34, is not included in their plans which could be another turn-off as most competitors offer shipping for free. $34 just to mail a few pieces of papers is indeed a very high fee.
Their Customers Feedback
Due to the length of its existence and its wide-range of expertise, MyCorporation garnered millions of customer reviews both positive and negative. Out of these feedbacks, we ranked the features of this provider which are most commendable and most talked about.
MyCorporation has a 4.2 rating on Trustpilot based on 230+ reviews.
They also have a decent rating on BBB (Better Business Bureau) — see their profile here.
In addition, MyCorporation’s Facebook page scores 4.2 rating based on 42+ testimonials.
The customer service representatives of MyCorporation receive a number of commendations for their knowledge of their products and their willingness to walk clients through the entire formation process.
With its prompt customer service representatives, fast website, and mastery of the business, MyCorporation also receives a lot of favorable reviews for how quick they process orders and papers.
Correction of Filing Errors
Customers also stay with MyCorporation because of their seemingly automatic correction of filing errors that ease the total process and lessen the clients’ hassles.
However, negative reviews are unavoidable. Although the positive feedbacks outweigh these, it is also important to note the following:
Missing or Delayed Paperwork
There are a few comments about shipped papers sent to wrong delivery addresses or that went missing. Though it could not be their ends’ fault, customers could not avoid but blame it to them.
Tough to Unsubscribe
Client’s also complain about how hard it is to unsubscribe to their services which adds to the frustration of some unsatisfied customers.
Is MyCorporations the Best Choice For Your and Your Business?
Honestly, MyCorporation is not the best business incorporation service, in our opinion. They may not be suited to every business’ needs but they still have commendable features that could be just right for you if you consider these instances:
When TO use them?
- If you are looking for a reliable and high-quality LLC formation;
- If you will need a trust-worthy and tested business formation company; and
- If you want an annual report service
When NOT to use them?
- If you need a registered agent services free with LLC formation for a much reasonable price; and
- If your budget is lower than the price of their basic package
MyCorporation Alternatives and Best Substitutes
Starting an LLC or corporation could be so tough because even finding the right company to help you out up your business could add up to your worries. With so many organizations offering this service, we understand that you are reading this review not only to get a glimpse of MyCorporation but also to get to know alternatives that could work like it does at an affordable price. If you feel like MyCorporation is not for you, you can consider the following service providers below that definitely work.
#1 Alternative: ZenBusiness
Consider ZenBusiness if you are looking for the most cost-effective incorporation service accessible. They have the most affordable prices in the industry which starts from $39, without sacrificing the quality of service they provide. Even a full year of registered agent service is included. They also have a reputation for providing regular, dependable service, as evidenced by thousands of good client evaluations.
You can also read our full ZenBusiness review here.
#2 Alternative: Northwest Registered Agent
Another useful provider to consider when forming an LLC is Northwest Registered Agent. Customers commend them for their straightforward LLC creation packages and outstanding customer service.
We also encourage you to read our full review on Northwest here.
MyCorporation offers a wide range of services to ensure that you have all you need to start and grow your business. They have a lot of experience, great client reviews, and most of their formation packages include a yearly report service, which is very appealing.
However, there are points that they missed which other alternatives could brag about, most especially in terms of their prices. Majority of the alternatives one could search online offers reasonable and affordable prices that include shipping fee and a registered agent. This makes MyCorporation disappointing and unfitting to starters.
Still, they do offer certain benefits, but we believe there are other options that may be suited in your business formation journey, such as ZenBusiness and Northwest Registered Agent. Anyway, if you still feel unsatisfied, you can “Get Started” with MyCorporation anytime.
That’s why we gave a final score of 7 out of 10.
It’s a good company although a bit pricey considering what you can get elsewhere.
Is MyCorporation Legit?
As aforementioned, MyCorporation has been serving and being trusted by millions of clients across the United States since 1998. MyCorporation has a five-star Google rating and is frequently praised for its personalized service and knowledgeable employees. With 197 reviews on TrustPilot, the company has a four-star rating.
How Much is MyCorporation’s Registered Agent Service?
MyCorporation offers Registered Agent Service for $120.00 per year. One year of service is included if you choose the Deluxe or Premium plan and automatically renews annually.
Which Package Should I Buy?
The Deluxe package, which costs $258, is our recommendation. Not only do you get your LLC or incorporation service and a registered agent with this choice, but you also get a year of annual report service.
Will MyCorporation Help With Compliance Requirements?
To resolve this concern, it would be best to consider the Deluxe package. It is an excellent bundle to get any business ready for future compliance because you will have two powerful instruments to assure your business’s continued compliance and good standing.
What Is Their Refund Policy?
Unfortunately, the refund policy of MyCorporation is not quite clear but, generally, you have 60 days to obtain a refund.
How Quick Is The Overall Ordering Process?
To be honest, no information on how fast the entire procedure is available except for customer reviews that state it is “quick” or “fast.” However, we noticed that they offer a $100 Rush Filing service on their website, which claims to “Save up to 85% of the Standard Filing turnaround time.” Your documents will be delivered to the Secretary of State’s Office for filing as soon as possible.”
It is, however, still unclear because it does not specify the normal turnaround time or the Rush Filing turnaround time in days.
So should I try MyCorporation for my new LLC?
Honestly, as we stated earlier – they’re definitely a great option and whether you choose it or not – you will definitely be right.
Although, in our opinion there are far better options that you can get for the same or even lower price and ultimately get even better experience and service overall.
Not Sure About This One? Read Our Other LLC Service Reviews
#1: ZenBusiness review.
#3: IncFile review.
#4: IncAuthority Review.
#5: Nolo review.
#6: MyCorporation review.
#7: CorpNet review.