MyCorporation LLC Service Review

MyCorporation has become a popular provider of LLC formation service ever since they founded in 1995, with more than 1 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

✔ A popular 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 1 million businesses. That’s a level of experience that we’ve only seen the industry giants like Rocket Lawyer and 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. Especially considering there are LLC services like us at ZenBusiness that will start an LLC for free (just pay your state’s required fee).

MyCorporation LLC Formation Packages

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 $34 shipping fee.

Basic = $133 + State Fee

Best For: Entrepreneurs looking for the essentials with no additional features when forming an LLC.

➢ 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

Best For: Business owners who want some assistance with ongoing compliance requirements.

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

Best For: Business owners who want to form an LLC with registered agent service included.

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

Best For: Business owners who want to form an LLC with registered agent service included.

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
• Amendment
• Stock Certificates
• Membership Certificates
• Corporate Minutes and Bylaws
• Corporate Seal
• Certified Copies
• Apostille
• Dissolution
• Reinstatement
• Certificate of Good Standing

After your one year of included subscription, you can renew this service for $250 per year.

In-Depth MyCorporation Review

MyCorporation Overall Pricing and Value

With four package offerings, there are more choices available for business owners than many other services offer. While their $133 Basic package is a barebones formation package, their $158 Standard package adds a year of annual report service, which is a valuable feature that very few competitors offer in LLC or corporation formation packages.

Their Deluxe package is priced at $258 and adds a year of registered agent service to the foundation of the Standard package. Finally, MyCorporation’s Premium package at $358 adds four maintenance filings within one year of your formation.

Depending on your company’s needs, MyCorporation may have a package that suits your needs. Their price point for each year of registered agent service is quite reasonable at $120.

In general, though, you’ll probably need to spend more money to form your LLC or corporation with MyCorporation than you will with some of their competitors.

Track Record

MyCorporation opened for business back in 1998, and they’ve helped over one million clients form and manage their businesses since then. This impressive level of experience is supplemented by a few hundred customer reviews which are available online, and these indicate that most of those clients are quite pleased with the service they receive.

Of the 400 reviews we found for MyCorporation, most of them are high ratings of either four or five stars. In their positive reviews, their clients discuss how they appreciate MyCorporation’s advanced features, as well as their helpful customer support representatives.

Overall, MyCorporation has a strong track record that makes them easy to trust as an incorporation service.

Customer Support

MyCorporation offers phone and email support. There is also a “leave a message” feature on their homepage that remains on the page as you scroll, which basically seems to be another way to access their email support.

We submitted a question via email and received a response by mid-afternoon the next day. Our question was answered but not greatly elaborated upon. We also called, and our response was slightly more detailed. We did not wait on hold for long, and it was easy to navigate through to a customer service representative.

In both instances, the representatives were professional, and the response times were pretty quick. Another added bonus in this regard is the fact that MyCorporation CEO Deborah Sweeney lists her Twitter handle on their website, so if you have any problems that aren’t getting satisfactory answers from their team, you can go straight to the top with your complaints.

Ease of Placing an Order

The point of using an incorporation service is to save time and simplify the formation process. With some online services, it can still feel like you’re basically filing on your own. But with MyCorporation, the process is straightforward and convenient. The application was easy to fill out, and we made it from the first page of the order form to the last screen within about ten minutes.

You select your add-on options from the package selection screen before entering the application, but there are a series of upsells right before you pay. The additional services at this stage of the application are offered based on choices you made earlier, and your price adds up on the screen as you go, including state-specific fees.

Overall Turnaround Time

MyCorporation isn’t very clear regarding turnaround times for forming a corporation or LLC. Depending on your state it could take a few days, or it could take six weeks. Near the end of the application process, they invite you to pay an extra $100 (plus state fee!) to expedite processing “up to 85%” compared to standard filing, but if we’re spending that much extra money, we would like to know specifics.

Even the FAQ section really isn’t any help, as the question, “What is the MyCorporation Rush Service?” has an answer that simply states, “This is the quickest way to get your documents. With MyCorporation’s Rush Service, your order will be placed in priority processing.”

Especially considering that most competitors list their standard and expedited turnaround times for each state clearly on their websites, this category is a disadvantage for MyCorporation.

MyCorporation Reviews From Customers

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 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 plus for MyCorporation.

Here’s what customers liked about MyCorporation:

• Customer service representatives walk clients through the entire formation process
• Any filing errors are corrected promptly
• Website and representatives offer plenty of information to help make an informed purchase

And now for some of the negatives:

• Shipped paperwork was delayed
• Tough to unsubscribe from services

Customer Service Quality

With MyCorporation, you can access their customer support team via either phone or email. Either way, their support reps are quite responsive, as we’ve never had to wait on hold for long, and they also reply to emails quickly.

Their representatives are highly trained, and they’re capable of answering difficult questions. We’re pleased with the quality of their support overall.

Is MyCorporation Right for You?

In our opinion, MyCorporation is a good 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 a solid option. 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 better price than MyCorporation does.

Final Verdict

MyCorporation has good features and strong customer feedback, which is a combo that makes them a solid choice. However, their pricing is a bit high.

About MyCorporation

Since they opened in 1998, MyCorporation has served more than 1 million clients. They’re based in California, but they provide business services in all 50 states.

They offer a wide variety of business services, and we appreciate their level of transparency. You can actually contact their CEO directly on Twitter @deborahsweeney if you have any questions or comments about their service.

On their website, MyCorporation outlines their mission statement as follows: “MyCorporation is a leading provider of online document filing services for clients who wish to form a corporation or limited liability company. For more than twenty years, MyCorporation has helped small business clients and real estate investors incorporate their businesses in a reliable and affordable manner.”

A fun fact about MyCorporation is that they offer a free no-risk small business startup consultation. If you have questions about the business formation process, they will discuss your options and help you make the right decision for your company.

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 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 laws. You still have to apply for the licenses yourself, but it’s quite helpful to get a list of everything you need. That said, some 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.

How Does MyCorporation Work?

MyCorporation does most of the work for you to help you get your business started. But first, you have a few steps you need to complete. Here’s a rundown of what you can expect with MyCorporation:

1. Select your state and the type of business you want to form.
2. Choose your package and add-ons.
3. Provide information about yourself and your business. This includes who will manage your business, members of your business, your registered agent, your business address, and more.
4. Select or decline MyCorporation’s favorite services for entrepreneurs.
5. Provide payment information to complete your order.

Once MyCorporation has all of the information they need, they will file your formation paperwork with the state on your behalf.

In Conclusion

MyCorporation is a solid option for any entrepreneur seeking an LLC service bundle that includes annual report service. We also appreciate this company’s consistently positive customer feedback and strong track record of experience.