MyCorporation has become a popular provider of LLC formation service ever since they founded in 1995, with more than a million businesses served.
Even in this crowded marketplace, they’ve managed to set themselves apart.
This MyCorporation LLC service review will cover a number of topics that should help you decide whether or not you want to use their LLC creation services.
Advantages & Disadvantages
Advantages of MyCorporation:
✔ Our favorite aspect of MyCorporation’s LLC formation service offering is their $158 Standard package. Including a year of annual report service, this package is a strong bargain for this combination of features.
✔ Since 1998, MyCorporation has helped form more than one million businesses. That’s a level of experience that we’ve only seen the industry giant LegalZoom match.
✔ Customer feedback is a big pro for MyCorporation. Even though they have hundreds of online customer reviews, it’s not easy to find more than a small handful of critical reviews here and there.
✔ MyCorporation offers some financial services that most competitors don’t offer as optional add-ons to LLC formation. For example, they can provide assistance with income tax and unemployment insurance for your employees. Not all businesses need these of course, but it’s nice to have the option.
✔ While we can’t guarantee that they have this promotion running as you read this, they usually offer 50% off an incorporation or LLC filing via a coupon on the MyCorporation Yelp page.
Disadvantages of MyCorporation:
✖ Their $133 Basic plan, $99 + shipping, is fairly expensive for the features you get, especially considering there are cheap LLC services that are about $90+ less with more robust features.
✖ Registered agent service isn’t included until you reach their upper-tier packages. Some competitors include a free year of registered agent service with even their baseline formation service packages.
✖ MyCorporation adds $34 for shipping on top of its advertised price points. If you ask us, $34 to mail a few pieces of paper is quite the bloated price tag.
MyCorporation LLC Formation Packages
Does MyCorporation Offer Good Value? Before we look at the pricing and packages for MyCorporation, let’s outline what good value in an LLC service looks like.
While $99 + $34 shipping to form an LLC is certainly fair and less than the cost of hiring an attorney, MyCorporation doesn’t offer nearly as much value compared to other LLC services that cost $90 less.
MyCorporation offers four options for LLC formation packages: Basic, Standard, Deluxe, and Premium. Below is a breakdown of what you’ll get in each package.
Important Note: The prices listed below reflect the final prices after the required shipping fee.
Basic = $133 + State Fee
➢ Articles of Organization (Preparation and Filing): MyCorporation will draft these documents, which are used to officially form your LLC with the government. After they prepare the forms, MyCorporation will file them with your state of formation to create your company.
➢ Business Name Availability Search: In order to determine whether your desired company name is available in your state of formation, they’ll search the state business database to make sure there isn’t a match.
Standard = $158 + State Fee
Everything from the Basic package, plus…
➢ Annual Report Service: MyCorporation usually offers this service for $99 per year (plus state fee), but Standard LLC package customers get it for free for a year. They’ll manage, prepare, and file your annual report, and they also include a handy corporate reminders tool so you’ll never miss an important deadline.
Deluxe = $258 + State Fee
Everything from the Standard package, plus…
➢ One Year Registered Agent Service: Every LLC operating in America is required to designate a registered agent, which is an entity or individual that accepts important document deliveries on behalf of your LLC, then forwards them to you. After the year of service included in this package, MyCorporation charges $120 per year, although you are under no obligation to purchase a renewal.
Premium = $358 + State Fee
Everything from the Deluxe package, plus…
➢ One Year MaintainMyBiz Subscription: Over the next year, you’ll be able to order up to four more document filing services and/or business products from MyCorporation at no extra charge. These include:
- LLC Operating Agreement
- Fictitious Business Name (DBA)
- Initial Report
- Annual Report
- Foreign Qualification
- S-Corp Election
- Stock Certificates
- Membership Certificates
- Corporate Minutes and Bylaws
- Corporate Seal
- Certified Copies
- Certificate of Good Standing
After your one year of included subscription, you can renew this service for $250 per year.
2 Best MyCorporation Alternatives
With so many companies offering LLC services in today’s marketplace, it’s worth knowing what the competition has to offer. After all, with dozens of competitors all vying to handle your LLC formation, if MyCorporation doesn’t feel right to you, we can probably find a service that does.
ZenBusiness – $39: Our first alternative to MyCorporation is ZenBusiness. Their rates are really reasonable, as they only charge $39 for LLC formation, and that includes a full year of registered agent service. They also have thousands of positive customer reviews, and a reputation for consistent, reliable service. Northwest – $225: Next up, we think that Northwest Registered Agent is another good service to form an LLC worth considering. Their main claim to fame is no-nonsense LLC formation packages and excellent customer support.
ZenBusiness – $39: Our first alternative to MyCorporation is ZenBusiness. Their rates are really reasonable, as they only charge $39 for LLC formation, and that includes a full year of registered agent service. They also have thousands of positive customer reviews, and a reputation for consistent, reliable service.
Northwest – $225: Next up, we think that Northwest Registered Agent is another good service to form an LLC worth considering. Their main claim to fame is no-nonsense LLC formation packages and excellent customer support.
MyCorporation Reviews From Customers
|TrustPilot (220 reviews)||4.4 out of 5 stars|
|Google (150 reviews)||4.9 out of 5 stars|
|Facebook (24 reviews)||4.1 out of 5 stars|
MyCorporation has hundreds of online customer reviews scattered across several third-party review sites. If you’d like to get a close look at how their clients feel about them, feel free to browse some of their reviews for yourself.
Simply put, most of these reviews were written by highly satisfied customers, as MyCorporation has impressive average scores on every site.
Their clients seem to especially enjoy how quickly MyCorporation processes their orders, and they often rave about the high quality of their customer support. All told, customer feedback is a big plus for MyCorporation.
Is MyCorporation Right for You?
In our opinion, MyCorporation is a great company with more advantages than disadvantages. Still, they won’t be the perfect fit for every business, so let’s review some scenarios where you may or may not want to use MyCorporation as your online incorporation service.
✔ When to Start an LLC with MyCorporation:
If you want annual report service, they’re almost a no-brainer. Aside from that, if you’re looking for positive customer feedback for your LLC formation provider, MyCorporation is a good pick.
✖ When NOT to Start an LLC with MyCorporation:
Some competitors include registered agent services free with LLC formation for a much better price than MyCorporation does.
MyCorporation has good prices and strong customer feedback, which is a combo that makes them a solid recommendation.
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What Other Services Does MyCorporation Offer?
As with most competitors, MyCorporation provides a wide variety of additional services to help entrepreneurs form, maintain, and grow their businesses. We dug into the list of features MyCorporation offers to see how much they charge for each of these services, which can be especially interesting when examining a la carte pricing for features included in their formation packages.
Let’s take a look at everything MyCorporation offers and discuss which services are good deals and which ones you can ignore.
- Annual Report ($99): Most states require some sort of annual or biennial report from entrepreneurs. This report keeps the state updated regarding some basic attributes of your business, like your address or your registered agent’s name.
- Registered Agent Service ($120 per year): If you’d like MyCorporation to serve as your registered agent but you don’t want to purchase their Deluxe or Premium packages, you can add this service for a reasonable annual fee of $120.
- MaintainMyBiz ($250 per year): The ongoing business document filing plan (with four filings per year) offered in the Premium package is available as a standalone feature for the annual price point of $250.
- EIN ($79): It’s very easy to obtain your own EIN from the IRS, so it’s probably unnecessary to spend $79 having MyCorporation acquire one on your behalf. That said, this is a roughly standard price point around the industry.
- Operating Agreement ($59): Every LLC needs an operating agreement to outline some operational aspects of its business structure. MyCorporation will prepare a custom operating agreement for your business for just $59, which is a solid price tag.
- S Corporation Tax Election ($49): If you want your LLC taxed like an S corporation, this is the form you’ll need to file. MyCorporation offers this service at a reasonable rate of $49.
- Business License Research Package ($149): This feature includes a list of all the licenses and permits your business needs to operate in compliance with federal, state, and local law. You still have to apply for the licenses yourself, but it’s quite helpful to get a list of everything you need. That said, most competitors offer this service for around $100, so we’re not excited about this price.
- Unemployment or Withholding Tax Registration ($200 each): MyCorporation will register your business for withholding and/or unemployment taxes with your state for $200 each. However, CorpNet will take care of both unemployment and withholding tax registrations for a total of $199, so we do not recommend this feature.
- Sales Tax Registration ($200): Similarly, MyCorporation will register your business for sales and use taxes with your state, county, and/or municipal government. This is the industry-standard rate.
- LLC Kit ($100): This feature is a binder with your LLC’s name stamped on it. To be honest, no one needs an LLC kit and we would not advise spending $100 on this product, although this price is right in line with what most companies charge.
- DBA Name ($129): A DBA (doing business as) name is an alternative to forming a business entity, as it gives you the legal right to use an assumed business name. However, there are plenty of companies that will register a DBA for $100 or less.
- Foreign Qualification ($199): If your LLC already exists in another state, you need to file a foreign qualification rather than a formation. This is a middle-of-the-road price point for this service, as there are both cheaper ($149 with IncFile) and more expensive ($229 with LegalZoom) options available.
- Dissolution ($129): Are you ready to shut your LLC’s doors for good? MyCorporation will complete and file your dissolution paperwork, closing your business and removing your responsibility for keeping up with ongoing maintenance requirements. At $129, this is a strong price point that beats most competitors’ rates.
- Amendments ($129): If you need to amend your LLC’s formation documents to reflect important changes made to your business, MyCorporation will file amendments for $129 each, plus the state fee. Competitors tend to charge around $100 for amendments.
- Reinstatements ($199): Do you want to reinstate a previously dissolved LLC? MyCorporation will file the paperwork to get your business back up and running for $199. This is much cheaper than the ~$300 rate quoted by some competitors!
- Certificate of Good Standing ($99): This is a form that proves your LLC is current and compliant with all regulations in your state. IncFile offers these certificates for just $49, so we wouldn’t advise buying one from MyCorporation.
- Certified Copy ($99): If you need any official copies of your state-filed business documents, MyCorporation will acquire them for $99. However, BizFilings offers this exact same service for just $39.
Frequently Asked Questions
Got MyCorporation LLC questions? We’ve got answers.
Does MyCorporation Offer Any Discounts?
At the time of this writing, we found two significant discounts for their services, although we obviously can’t guarantee that these promos will still be available when you’re reading this. MyCorporation’s Yelp page has a coupon good for 50% off your incorporation or LLC formation. In addition, they will acquire your EIN for free if you use the promo code FREEEIN when placing your order.
Is MyCorporation Legit?
MyCorporation has an extensive track record with more than one million businesses served since the company was formed in 1995. They also have a solid reputation when it comes to customer feedback, as they maintain a high average rating score with hundreds of reviews available.
Does MyCorporation Have Good Customer Support?
MyCorporation is known for their excellent customer service. They keep everything in-house, which means that you’ll speak with a trained professional every time you contact them with a question or concern.
How Does MyCorporation Compare to Other LLC Providers?
To be perfectly honest, there are many LLC providers that we prefer to MyCorporation. Many of their competitors offer LLC formations at considerably lower rates while still providing more valuable features. In fact, there are companies that can save you more than $100 compared to MyCorporation.
In fact, MyCorporation did not earn a spot on our “7 Best LLC Services” list, because there are other companies that charge lower rates while still providing a full year of registered agent service. If you’re looking for one of the best LLC providers in the industry, we strongly recommend ZenBusiness, Northwest Registered Agent, or IncFile.
Do They Have a Refund Policy?
MyCorporation has a reasonable refund policy that states they will provide a refund if you request one within 60 days of your purchase. They do charge a $25 processing fee if you purchased any physical products, or if you need them to make any alterations to documents they’ve prepared for you.
Can I Form an LLC on My Own?
Sure. In fact, it’s not uncommon at all for entrepreneurs to form their own LLCs, but it can be a lot of paperwork and research depending on the state.
Some will go to the other end of the spectrum and hire an attorney to form their LLC, which can be very costly. Online LLC services like MyCorporation are much simpler than forming your own, and much cheaper than hiring a lawyer.
Should I Reserve My LLC Name Before Forming an LLC With MyCorporation?
Each state (minus Florida) has a way to reserve a business name before forming your entity itself. In general, this is only necessary if you aren’t yet ready to enter the formation process.
If you’re ready to start your business, there’s no reason to reserve your name before forming your LLC with MyCorporation. We will note that certain states (like Alabama) require you to reserve a name before you form your business.
Is MyCorporation the LLC Website You Recommend to Family and Friends?
This is a somewhat difficult question to answer. If our mom asked whether MyCorporation is worth using, we would say that we appreciate their experience and their inclusion of annual report service with most of their LLC formation packages, but also that there are clearly some better options out there.
We would ultimately recommend ZenBusiness or Northwest Registered Agent because these companies include 12 months of registered agent service in all of their LLC formation packages, which MyCorporation only includes in their higher-priced premium packages.
Can I Form an LLC Without Physically Being in the United States?
Yes, there is no requirement that you be present in the U.S. to form an LLC. In fact, you don’t need to be an American citizen or resident to form an LLC either, as foreign nationals are allowed to own and operate LLCs just like American citizens are.
Does MyCorporation Handle Requirements Like New York Publication?
We gave MyCorporation’s customer support a call, and they told us that they do not offer publication service for LLCs, but they do handle some other state-specific requirements like Alabama’s name reservation.
If you have a question about the requirements for your state, it doesn’t hurt to ask if they might be able to help!
What Is the MyCorporation Customer Support Phone Number and Email?
You can contact MyCorporation via phone by calling 877-692-6772. Instead of publishing a specific email address, they have an email contact form on their website.
Once you submit your message, a MyCorporation representative will reach out to you via email as soon as possible.
Does MyCorporation Sell or Share My Information With Third Parties?
We aren’t huge fans of the way MyCorporation includes “special offers” with their LLC formation packages that are actually opportunities for them to share your info with third-party partners.
Be aware that their payroll processing, custom logo design, credit cards, website design, customer relationship management, business checks, accounting solutions, and free domain name offers are all just cleverly disguised ways for them to share your information.
If privacy is a concern for you, Northwest Registered Agent is the LLC service that does the best job of offering a premium service while keeping your privacy close to the chest.
I’ve Heard LegalZoom Has a Lot of Upsells. Does MyCorporation?
On one hand, MyCorporation does have a rather extensive list of “optional services available at the checkout,” which vary a bit by state but typically include rush filing, an EIN, a customized operating agreement, S corporation tax election, a business license compliance package, the MyIncGuard corporate alerts program, an LLC kit and seal, unemployment insurance, income tax withholding, and sales tax registration.
On the other hand, MyCorporation’s presentation of these options doesn’t feel pushy like LegalZoom, and at no point do they try to trick you into ordering options that you don’t need. So, while they do have quite a few upsells, they’re rather unobtrusive and easy to ignore if you want to.
How Quickly Does MyCorporation Process LLC Formations?
MyCorporation’s processing times vary depending on your state of formation, but in general, they’re pretty fast.
If you need to speed up your formation turnaround time, you can upgrade to their expedited service which can reduce your processing time from weeks down to just a few days in some states.
Other Than LLC Formation, What Else Can MyCorporation Do?
MyCorporation offers an incredible variety of additional services that can make your life easier as an entrepreneur. They provide assistance with ongoing maintenance issues like annual reports, as well as apostilles, corporate resolutions, member and stock certificates, certified copies, notary service, and payroll.
They also provide a selection of other business filings, including foreign qualifications, dissolutions, withdrawals, reinstatements, amendments, and certificates of good standing. They even have business products like promotional products, apparel, retail packaging, print marketing, business checks, and logo design.
Is the Extra $79 Worth the Money to Get an EIN?
This is a tough question to answer without knowing the specific needs of your unique business. We personally enjoy getting an EIN included with our LLC formation, even if it means spending extra to add it on, or to upgrade to a higher level of LLC service.
The convenience of not having to get one ourselves through the IRS is worth it for us, and we like to have our articles of organization and EIN confirmation in the same place. However, we would completely understand if you’d rather save some money and acquire your own EIN from the IRS directly.
Ready to Start Your LLC?
Start your LLC with MyCorporation or read our comparison of the 7 top-rated LLC services.