MyCorporation vs BizFilings (Better LLC Creation Service?)
Are you in the process of forming a new LLC, but you aren’t familiar with the DIY method?
Are you also unwilling or unable to meet the lofty financial requirements of hiring a lawyer to draft and file your articles of organization? There are plenty of companies like MyCorporation and BizFilings offering affordable LLC formation services, but how do you choose the right one for your business?
This MyCorporation vs BizFilings comparison guide takes a look at their most important common characteristics and differences. By the time you’re done reading, we think you’ll have a much better idea of which one you should use to form your LLC.
With MyCorporation and BizFilings, we’re discussing two of the most popular LLC formation service providers available. They both have quite a bit of experience, and we’re confident that either of them can do a great job forming your compliant LLC in a timely fashion. Still, MyCorporation has some advantages that BizFilings can’t quite match, and they’re the preferred option for most of our readers.
First and foremost, MyCorporation receives fantastic customer feedback, with hundreds of reviews available online, and the overwhelming majority being highly positive in nature. Compared to BizFilings’ near-complete lack of customer feedback, it’s a big advantage. In addition, MyCorporation includes a year of their managed annual report service with most of their formation packages, which is a feature BizFilings doesn’t include at any level.
Would you like to learn more about these two respected LLC service providers before making your choice? Read on to find out everything you need to know to make an informed decision.
6 Things They Have In Common
1) Affordable: With either of these companies, you’ll save lots of money compared to hiring a lawyer to form your LLC. These service providers are a great alternative, especially considering that the LLC isn’t a terribly complicated business structure to begin with, so you may not even need an attorney’s expertise.
2) Customer Support: Saving money is always a positive, but what’s the point if you’re not getting the assistance you need? MyCorporation and BizFilings both have customer support networks that can provide easy answers to your tough questions, leaving you more time to focus on the actual operation of your business.
3) Experience: It’s important to find a service provider with plenty of experience forming LLCs for customers like you, and MyCorporation and BizFilings definitely have it. They’ve each successfully formed thousands of LLCs, so you can trust them to form your compliant company.
4) Efficiency: Are you in a hurry to get your formation completed? Both of these companies offer expediting services that can speed up your formation from a couple months down to a matter of mere days in some states. Unfortunately, both MyCorporation and BizFilings charge rather extreme additional fees for this service compared to their competitors, but we’ll get to that in a moment…
5) Additional Services: Do you need other business services beyond the formation of your LLC? Perhaps you’re interested in registered agent service, or you need to acquire a federal tax ID number (EIN)? Both BizFilings and MyCorporation have a wide variety of other services available should you require them.
6) Educational: Both of these service providers have loads of valuable information on their websites that you can access whether you’re a customer or not. MyCorporation has a learning center with a large library of business articles, and BizFilings’ Business Owner’s Toolkit has info on everything from choosing the right business structure to filing taxes and more.
Side by Side Comparisons
MyCorporation’s $89 (plus state fee) starting price point is a little bit more affordable than the $99 package offered by BizFilings. (See details)
The $99 Basic package available from BizFilings includes the essentials of formation (name availability search, plus the drafting and filing of your articles of organization), along with six months of registered agent service, and six months of access to their online compliance management tools.
As for MyCorporation, their $89 Basic package only includes the basics necessary to form your business. However, if you step up a mere $10 to their $99 Standard package, they add in a year of their managed annual report service. MyCorporation will track your due date and file your report for you, and their annual report service is one of the best in the business, so this is a really valuable feature.
BizFilings was founded in 2001, and since then they’ve completed over 500,000 business filings, which is a highly impressive customer volume. MyCorporation is on another level though, with more than a million businesses served since they formed in 1998.
Customer service is a strength for both of these companies. They both have helpful and professional customer support representatives, and they’re both quite responsive to your messages as well. MyCorporation’s reps are available from 10am to 8pm ET every weekday, and similarly, BizFilings has phone availability from 9am to 8pm ET on weekdays. This category is relatively equal between the two, in our opinion.
As far as the standard turnaround times are concerned, MyCorporation and BizFilings are pretty much even across most states. One or the other has a slight advantage in some select states, but it’s really a toss-up. Both of these companies offer expedited service as well, but we would caution against using it.
These service providers both charge very high additional fees on top of your state’s official expediting fee ― MyCorporation charges $100, and BizFilings charges $60. These rates are much higher than the vast majority of competitors, and it’s a pretty significant disadvantage for both of these companies.
MyCorporation has an order status page in your account on their website, and BizFilings has a status tracking tool available on their site that serves the same purpose. This category is another toss-up.
Registered Agent Service
BizFilings includes six months of registered agent service with any LLC formation package, and after that free period, they charge $149 per year ― a rate that’s quite steep compared to most competitors.
MyCorporation only includes registered agent with their $199 Deluxe and $299 Premium packages, although they do include a full year’s worth in those top-tier service packages. Other than that, they charge a more reasonable rate of $120 per year. (What is a registered agent?)
MyCorporation has a very good track record when it comes to customer feedback, as they have about 400 reviews available online and most of them are highly complementary. They maintain high average rating scores across all major review sites, and in general customer feedback is a major pro for them.
For BizFilings, customer feedback is tough to analyze because it’s in such short supply. For a company with so many customers served, it’s odd that we were only able to track down three total reviews of their services. Because it’s impossible to do any meaningful analysis on such a small data sample, we can conclude that customer feedback is not an advantage for BizFilings.
Ease of Use
These companies both offer services that are easy to leverage, and their websites are intuitive and user-friendly. Both of them score highly in this regard.
Best Service for LLC Formation?
MyCorporation and BizFilings are both highly reputable service providers that can help you form your new LLC at reasonable rates. We’re confident that you’ll be pleased with the service you receive from either one of them, and we wouldn’t hesitate to recommend either company.
Of course, we understand that you may remain undecided, so to finish this comparison guide, we’ll quickly go over some of the most common reasons that people choose one service over the other. Either way, we wish you nothing but the best with your new LLC!
Choose MyCorporation if You Are:
Do you feel more comfortable using a service provider that gets fantastic customer reviews? Maybe you’re looking for annual report service with your LLC formation? These are a couple of great reasons to go with MyCorporation.
Choose BizFilings if You Are:
Are you interested in getting registered agent service bundled in with your LLC formation? BizFilings is the better choice if so.