MyCorporation vs IncFile (Who’s Your Best Bet?)
Are you entering the LLC formation process, but you’re not sure which of the many LLC service providers is the right choice to assist you?
This MyCorporation vs IncFile LLC service comparison is structured in a way that highlights the common characteristics and major differences between these two popular providers. Let’s find out which one’s the right choice for you.
* Quick Note: If you’d like to compare the top LLC services, we reviewed and ranked the best based on overall value-price-reliability. See Comparison.
IncFile and MyCorporation are two of the top LLC formation services available online today. They’re both quality services and they’re both easy to recommend. However, in our opinion, IncFile has some advantages that put them over the top.
Most importantly, IncFile’s starting price point of $49 is much lower than MyCorporation’s $89 baseline package. IncFile also includes a full year of registered agent service with any LLC formation package, a feature that MyCorporation only includes in their premium packages.
These are just the basic, most important differences between these two service providers, but these are not the only ways they differ. Read on to find all the details you need in order to make the best decision for your new LLC.
7 Things They Have In Common
1) Affordable: MyCorporation and IncFile can both save you a significant sum of money over hiring a law firm to draft and file your articles of organization. If you get a lawyer to do this for you, you’ll pay hundreds more than with one of these service providers.
2) Customer Service: Just because you’re saving money doesn’t mean you have to go it alone. IncFile and MyCorporation have knowledgeable customer service reps that can answer your tough questions. Don’t waste time trying to figure out the answers on your own, when you can invest that time into developing your business instead.
3) Experience: Both of these companies have formed thousands of businesses, meaning they have the experience and expertise necessary to handle your formation effectively and efficiently. You can trust MyCorporation and IncFile.
4) Customer Reviews: While they have both served high volumes of customers, both IncFile and MyCorporation maintain excellent average ratings when it comes to online customer feedback. These companies have hundreds or even thousands of reviews, and they’re almost all positive.
5) Rush Filings: If you need to form your LLC in a hurry, that’s no problem for IncFile and MyCorporation. Both providers have expedited processing options that can speed up your formation considerably, sometimes from several weeks down to just a few days. (Of course, rush filing does cost extra.)
6) Additional Services: Many businesses have additional compliance requirements, like registered agent service or a federal tax ID number (EIN). MyCorporation and IncFile can assist you with these and many other business solutions in addition to your formation. It’s convenient to get everything you need in one place.
7) Educational: These companies both have online learning centers packed with free information. Even if you don’t ultimately become an IncFile or MyCorporation customer, there’s lots to learn on topics ranging from business types to complex ongoing compliance issues.
Side by Side Comparisons
These companies both have reasonable price points for LLC service, but IncFile’s $49 (plus state fee) base rate is cheaper than MyCorporation’s $89 baseline formation package. (See Details)
MyCorporation only offers the absolute essentials of formation at that $89 price point, but their $99 package adds annual report service and some customizable sample documents. Very few of their competitors provide annual reports bundled in with LLC formation, and MyCorporation’s fully managed annual report service is among the best in the industry.
IncFile’s $49 package includes a full year of registered agent service, which MyCorporation only includes in their $199 Deluxe and $299 Premium packages. Every LLC needs a registered agent, which is a person or entity that receives your important government documents and forwards them to you. In addition, IncFile includes a 30-minute business tax consultation with every formation package.
IncFile has helped form over 150,000 businesses since 2004. While they have quite a bit of experience, MyCorporation is on another level. They’ve served over a million businesses since 1995.
The customer service supplied by MyCorporation gets excellent marks from their clients, as they frequently compliment MyCorporation’s representatives by name when they write reviews. They’re available from 10am to 8pm ET on weekdays.
IncFile also has generally solid support, with friendly and helpful representatives. The only issue is that sometimes it can take a little while to hear back from them. It’s not the norm for them, but we have experienced wait times in excess of 24 hours to get a response from IncFile during peak hours. Their hours of operation run from 10am-7pm ET Monday through Friday.
Both MyCorporation and IncFile have processing times that vary by state, and also depending on whether you choose to expedite your order or not. One difference is that MyCorporation doesn’t list their turnaround times conveniently on their website, and you’ll have to contact them to get estimates. IncFile has state-by-state estimates online.
MyCorporation’s website has status pages where you can see what step your formation is in. IncFile has a real-time order status tracking tool on their website that’s quite convenient as well.
Registered Agent Service
As we discussed earlier, IncFile offers a free year of registered agent service with any LLC formation package, and they charge $119 per year after that. Although MyCorporation does include registered agent in their upper-tier $199 Deluxe and $299 Premium packages, they do not bundle registered agent into their base-rate LLC service, and they have a standard annual rate of $120.
Both MyCorporation and IncFile are highly popular with their clients. Customer feedback is a major strong suit for these providers, as it’s hard to find many negative comments amidst the seas of positive reviews.
The big difference when it comes to client feedback is not the quality of the reviews, but rather the quantity. Whereas MyCorporation has a couple hundred reviews available online, IncFile has over 7,000 of them.
Ease of Use
There wouldn’t be any reason to use these services if they weren’t going to make your formation considerably easier. Thankfully, both MyCorporation and IncFile offer quick, convenient LLC service, and their websites are both user-friendly as well. They’re even in this regard.
Which Should You Choose?
With either MyCorporation or IncFile, you’ll receive a compliant LLC formation at a fair price. They’re both worthy of your hard-earned money, and they each have their own set of advantages as well.
Some of you may remain undecided, so to close we’ll walk you through some scenarios that may swing your opinion one way or the other. Whichever service you choose to handle your formation, we wish you the best of luck in all your future business ventures!
Choose MyCorporation if:
If you place a high value on experience and customer volume, or if you want managed annual report service, MyCorporation will be a great fit.
Choose IncFile if:
If saving money while receiving a full year of registered agent service sounds appealing, IncFile is right up your alley.