MyCompanyWorks LLC Service Review

Since 2001, MyCompanyWorks has provided LLC formation and other legal services to more than 60,000 businesses. There are dozens of services that will form an LLC, but MyCompanyWorks has carved out a market share.

Like any company, they have their advantages and disadvantages, which is why this MyCompanyWorks LLC service review outlines everything you need to know before deciding to use their LLC formation services.

About MyCompanyWorks

MyCompanyWorks was formed as MyNewCompany in 2001, and they’ve formed over 60,000 LLCs and corporations since then. In 2017, they were named to the Inc5000 rankings of the fastest-growing private companies in America.

Advantages and Disadvantages

Advantages of MyCompanyWorks

✔ They get strong feedback from their customers, with high average rating scores out of more than 4,000 online reviews.

✔ Their $59 Basic package includes a personalized LLC operating agreement and organizational minutes, along with a compliance alert system that keeps you informed of important filing deadlines.

✔ MyCompanyWorks returns most phone calls and emails in 20 minutes or less during business hours, while many competitors can take a full business day or longer to get back to you.

Disadvantages of MyCompanyWorks

✖ There are more affordable LLC services available. Other online LLC services, like us at ZenBusiness, will form your LLC for free (just pay your state’s required fee).

MyCompanyWorks LLC Packages

MyCompanyWorks offers three different levels of LLC service packages: Basic, Entrepreneur, and Complete. To review the details of each package, keep reading for a breakdown of what you’ll get.

Basic = $59 + State Fee

➢ Preparation and Filing of Your Articles of Organization: These are the documents required by your state of formation to officially form your LLC. MyCompanyWorks will draft these forms and then submit them to your state to create your company.

➢ Name Availability Search: They will search the business database operated by your state of formation in order to determine if your desired business name is available or if it’s already claimed by another business.

➢ LLC Operating Agreement: This document lays out the ownership structure of your LLC, as well as provides information about how the company will be operated. The MyCompanyWorks website claims it will draft this custom document for you, but when we called to ask for clarification, the representative we spoke to said they only provide you with a template.

➢ Organizational Minutes: LLCs are not required to take minutes of their meetings, but if you want to, they’ll include custom minutes forms, so it’s easier for you to organize your meetings.

➢ Company Alerts: They’ll set up a handy tool for you to keep track of your compliance deadlines and filing requirements.

Entrepreneur = $179 + State Fee

Everything from the Basic package, plus…

➢ One Year Registered Agent Service: If you operate an LLC anywhere in the U.S., you must designate a registered agent for your company. This is an individual or a business entity that agrees to receive service of process and important document deliveries from the state on your behalf. This is a vital part of any LLC because, without a registered agent, process servers and the state have no reliable way to contact your business. (Quick note: you can also get a registered agent service by itself if you need to.)

➢ Federal Tax ID Number (EIN): This is essentially a Social Security number for your business. An employer identification number (EIN) allows you to hire employees, open business bank accounts, pay business taxes, and much more.

➢ MyCompanyForms Business Forms: These are sample documents in a library of 200+ commonly used business forms that you can customize.

Complete = $259 + State Fee

Everything from the Entrepreneur package, plus…

➢ MyCompanyWorks Premium: This feature includes annual report service with due date tracking, initial report service (if required in your state), business entity monitoring and compliance alerts, and more. MyCompanyWorks typically sells this feature as a standalone service for $99 per year.

Deep Dive Into MyCompanyWorks Review

Overall Pricing and Value

While they’re not as expensive as some services, there are also more reasonable offerings available. Their basic package is $59, which isn’t a bad price considering the business documents included, but there are some competing companies that offer lower prices and/or more valuable features. For example, we’ll form your LLC for free.

MyCompanyWorks does guarantee that they’ll process your order within one business day without charging extra, which is a welcome feature. And, even though you do have to pay extra for their registered agent service (unless you purchase one of their two upper-tier business formation service packages), it costs $99 per year.

Track Record

Founded as MyNewCompany in 2001, they changed their name several years ago to MyCompanyWorks. Since they opened for business, they’ve helped form more than 60,000 companies.

They also made Inc5000’s 2017 list of the fastest-growing private companies, which was an impressive accomplishment, even if it was a while ago. This indicates that customers use the service and either return to use it again or recommend it to friends.

When it comes to customer feedback, MyCompanyWorks has a positive reputation. They have more than 4,000 reviews available online, and over 97% of them are either 4- or 5-star ratings. In those positive reviews, their clients often discuss how quick and easy they make forming a business and how well MyCompanyWorks explains each step of the formation process.

Customer Support

MyCompanyWorks offers phone and email support. We reached out via the form on their website and received a response back in less than 24 hours. They answered our question and included a couple of links to their website that helped expand upon their answer.

We also called to see how their customer service via phone is. The representative we spoke to was courteous and answered our questions with some elaboration. They also asked if we had any other questions or wanted to start the process of forming a business while we were on the phone. Their phone support is available from 9 a.m. to 7 p.m. ET Monday through Friday.

Ease of Placing an Order

The point of using an incorporation service is to save time and make the formation process simple. With some online services, it can still feel like you’re basically filing on your own. But with MyCompanyWorks, the process is straightforward and streamlined.

Once you’ve selected a package and any add-ons you need for your business, the application process is quick and easy. As long as you have all of the information you need, it shouldn’t take longer than 10-15 minutes. If you’re not sure where to begin with forming your business, they have a list of helpful articles covering topics like where to form your LLC or corporation and which of those entities is the right choice for you.

Overall Turnaround Time

MyCompanyWorks guarantees that they’ll process your formation paperwork the same day you submit your order if it’s before 3 pm ET, or the next business day if you submit your order after 3 pm ET. They also offer an upgrade to expedite service with the state once the paperwork is filed.

Overall, MyCompanyWorks can have your LLC or corporation formed within just one business day in some states, while in others, it can take a few weeks. Regardless of which entity you’re forming or where you’re forming it, they have estimates for both standard and expedited service on the order form. In general, we’ve noticed that their turnaround times are often slightly faster than some competitors.

Is MyCompanyWorks right for you?

In general, MyCompanyWorks is a solid LLC formation service with more pros than cons to their services. Here are some guidelines regarding whether it’s a good idea for you to use MyCompanyWorks.

✔ When to Set Up an LLC with MyCompanyWorks:

If you place a high value on customer service and client feedback, MyCompanyWorks is an option.

✖ When NOT to Set Up an LLC with MyCompanyWorks:

Need to save a bit more money or bundle in some more advanced features? There are ways to do that with other business formation services that are equally as reliable. For instance, we’ll form your LLC for free, while MyCompanyWorks charges at least $59 (you’ll pay your state’s fee either way).