MyCorporation vs IncFile
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Are you entering the limited liability company (LLC) formation process, but you’re not sure which of the many LLC service providers is the right choice to assist you?
There are plenty of companies like MyCorporation and IncFile that can help form your company, but how are you supposed to discern which one is the best fit for your unique LLC?
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 is the right choice for you.
Do MyCorporation and IncFile Offer Good Value?
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, each company has some advantages.
Most importantly, IncFile offers an LLC formation package for free. Obviously, this price point is much lower than MyCorporation’s $133 baseline package. IncFile also includes a full year of registered agent service with any LLC formation package, a feature that MyCorporation only includes in its premium packages.
However, in general, MyCorporation is a decent IncFile LLC alternative, especially if you’re looking for annual report services.
Important Note: The prices listed in this comparison for MyCorporation reflect the final prices after their required shipping fee on all 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 strong 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) Efficiency: 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 much to learn on topics ranging from business types to complex ongoing compliance issues.
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Side-by-Side Comparisons
Pricing
IncFile: IncFile will help you form your business for free while also providing a full year of registered agent service. Once the first year is over, the registered agent service will renew for $119 per year, which is a strong price point. In addition, their $149 Gold package and $299 Platinum package are both packed with valuable features that make them strong options as well, even at their higher price points.
MyCorporation: Their prices look better on the surface than they really are because they charge an additional $34 for shipping and handling, a fee we’ve added to their package prices to make them easier to compare.
While their $133 Basic package is expensive for such a barebones formation package, their $158 Standard package adds a year of annual report service, which is a valuable feature that few competitors offer in LLC or corporation formation packages. They only include registered agent service with their $258 Deluxe and $358 Premium packages, and after that, their registered agent service costs $120 per year.
Experience
IncFile: IncFile has helped form more than 800,000 businesses since 2004. While they have quite a bit of experience, MyCorporation has slightly more.
MyCorporation: They’ve served more than a million businesses since 1995.
Customer Support
IncFile: IncFile offers phone and email support, which we tested. When we used their phone support, our call was answered quickly, and our question was answered but not elaborated upon. However, IncFile’s email support is much less responsive. Many of our emails have gone unanswered, and several of the responses we have received are just form emails that don’t directly address our questions.
MyCorporation: MyCorporation offers customer service via phone and email. We submitted a question by email and received a response by mid-afternoon the next day. Our question was answered but not greatly expanded on. 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.
Turnaround Times
IncFile: IncFile guarantees that every LLC or corporation formation will be processed and forwarded to your state of formation within one business day. If you need your business formed in a hurry, IncFile offers the ability to order expedited state processing for an additional fee (determined by your state), or you can purchase their Platinum package which includes expedited service.
MyCorporation: 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 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.
Customer Reviews
IncFile: IncFile has roughly 34,000 reviews available online, which is just about the largest collection of feedback you’ll find for any company in this industry. Even with such a high volume, IncFile still maintains strong average rating scores.
MyCorporation: MyCorporation has nearly 400 reviews on reputable third-party websites, and the vast majority of these reviews are positive.
Ease of Use
IncFile: As you walk through the process of signing up for IncFile, your steps are personalized based on the state you live in and the type of business you wish to establish. There are even little question marks and hyperlinks throughout the application to learn more about a specific question or entry on the form. There are a few upsells and third-party offers to navigate through, but if you opt into any of them, your total price is immediately updated on the screen. There are never any surprises with IncFile.
MyCorporation: 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 and third-party partnership deals 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.
Additional Services
With either MyCorporation or IncFile, you can access a vast array of additional services to help you start and grow your business. They both provide several of the same services — for instance, you can get registered agent service, annual reports, foreign qualifications, amendments, and more. However, there are also some services that you can only find with MyCorporation.
MyCorporation offers quite a few unique products like promotional products and apparel for your business, along with retail packaging and print marketing. They also offer some other branding services, including logo and website design.
Which LLC Service 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 You Are:
Do you place a high value on experience and customer volume? Additionally, if you want managed annual report service for your LLC, MyCorporation will be a good fit.
➦ Choose IncFile if You Are:
If saving money while receiving a full year of registered agent service sounds appealing, IncFile is right up your alley.
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FAQ's
IncFile’s Silver package is free if you pay your own state fee. With the Silver package, you’ll get a complete LLC formation service, along with a year of registered agent service.
Considering the free price point, we’re obviously not aware of a less expensive way to get this combination of features. We will also note that if you have a bit of room in your budget, the Gold package ($149) is also a reasonable option, as it adds an EIN, company alerts, and an operating agreement.
One of the few negatives with IncFile’s service is the fact that they do not provide assistance with state-specific requirements like publication. When we called them to double-check, they said that those requirements “need to be taken care of with the state directly.” For what it’s worth, MyCorporation does not offer this service either.
Alternatively, ZenBusiness is a good LLC service that does help with NY publication. For more info on companies that can help with New York LLC publication services, check out our guide on this topic.
Would you like to take a look at a few other options? Check out our comparisons of IncFile to other top-rated LLC services:
In our opinion, both MyCorporation and IncFile do a good job of not overloading their customers with upsell attempts.
While some of their competitors will stop at nothing to present you with “opportunities” to upgrade your LLC formation service package or add unnecessary optional features, these companies present their products and services in a straightforward manner that doesn’t feel pushy.
IncFile’s return policy is rather restrictive. They will only grant your refund if you request it before they send your payment to the state government ― usually within 24 hours ― and they will also keep $30 as a cancellation fee. After they send money to the state, there are no more refunds.
On the other hand, MyCorporation provides refunds at any time within 60 days of your initial purchase date. There may be a $25 processing fee involved, so check with them to make sure before making your request.
MyCorporation and IncFile have similar processing times for LLC formations in most states. This is due to the fact that both of them base their turnarounds on how quickly each state processes formations.
MyCorporation might be slightly faster in a few states, with IncFile having the advantage in a few others, but for the most part, there won’t be much of a difference here.
You always have this option in all 50 states, and quite a few entrepreneurs do form their own businesses every day in America. However, because each state sets its own rules and regulations for LLC formations, the requirements vary depending on where your business is located.
Plus, services like ZenBusiness can form your LLC for free, as long as you cover the state fee. We’d be more than happy to help!
MyCorporation’s biggest advantage is their experience. They’ve served over one million clients since opening for business in 1998.
As for Incfile, their pricing and features are an advantage compared to most competitors, as they include a variety of services at affordable price points.
You can get assistance from either of these companies for ongoing compliance requirements, although their prices do vary a bit. With Incfile, you can get registered agent service for $119 per year, and their annual report service costs $88 (plus state fee) per year.
MyCorporation charges $99 per year for annual reports (and they include a year in most of their packages), while their registered agent service costs $120.
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