MyCorporation LLC Service Review (Advantages & Disadvantages)
MyCorporation has become a popular provider of LLC formation service ever since they founded in 1995, with over 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 take advantage of their business formation services.
Advantages & Disadvantages
Advantages of MyCorporation:
– Our favorite aspect of MyCorporation’s LLC formation service offering is their $99 Standard package. Including a full year annual report service, this package is an strong bargain for this combination of features.
– 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 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.
– Since 1998, MyCorporation has helped form over one million businesses. That’s a level of experience that few competitors can match.
– 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:
– Registered agent service isn’t included until you reach their upper-tier packages. Some competitors like IncFile include a year of registered agent service with even their baseline formation service packages.
– Their $89 Basic plan is an awfully barebones service package, especially considering there are competitors who pair lower rates with more robust feature sets. (See Top Services)
MyCorporation LLC Formation Packages
MyCorporation offers 4 options for LLC formation packages: Basic, Standard, Deluxe, and Premium. If you want to examine the details of each package, feel free to take a look at their website.
Basic = $89 + 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 = $99 + State Fee
Everything from the Basic package, plus…
– Annual Report Service: MyCorporation usually offers this service for $98 per year, 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 = $199 + 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 = $299 + 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.
What Are Other Entrepreneurs Saying?
MyCorporation has hundreds of online customer reviews scattered across several third-party review sites. If you would like to get a close look at how their clients feel about them, feel free to peruse 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.
- Trustpilot: 8.0 out of 10 stars (197 reviews)
- Google: 5.0 out of 5 stars (147 reviews)
- Facebook: 4.9 out of 5 stars (18 reviews)
- Yelp: 3.5 out of 5 stars (10 reviews)
Is There a Better MyCorporation Alternative?
With so many companies offering LLC services in today’s marketplace, it’s important to know 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.
Our favorite alternative to MyCorporation is IncFile. Their rates are really reasonable, as they only charge $49 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.
IncFile can save you $40 compared to MyCorporation’s cheapest formation package, and they include more features as well.
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 for LLC formation service.
When to Use MyCorporation:
If you want annual report service, they’re almost a no-brainer. Aside from that, if you’re looking for positive customer feedback in your LLC formation provider, MyCorporation is a good pick.
When NOT to Use MyCorporation:
Some competitors (like IncFile) include registered agent with LLC formation for much cheaper than MyCorporation does.
MyCorporation has good prices and strong customer feedback, which is a combo that makes them a solid recommendation.
Frequently Asked MyCorporation Questions
Does MyCorporation Offer Any Discounts?
You can receive 50% off of an incorporation or LLC filing if you visit their Yelp page. It’s a great bargain, although we can’t guarantee that they’re currently running the promotion.
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.
Do They Have a Refund Policy?
Technically yes, but you don’t want to have to use it. In a best-case scenario, they will only refund you 25% of your purchase price, and they may not refund any of your money at all.
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. 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.