Do you need to incorporate online, and you prefer to have a professional service handle the paperwork for you? MyCompanyWorks is one of several companies that can get the job done.
In this review we’ll talk about the important details you need to know before choosing their service. If you’d rather see a quick overview of the best incorporation companies, see our comparison guide.
MyCompanyWorks Scored 7/10
When it comes to online incorporation services, here’s what matters most:
- Is it a good deal?
- Is it a reliable company?
- Is there good customer support?
- Is the incorporation website easy to use?
- How quickly do they incorporate your business?
Based on these criteria, MyCompanyWorks gets a 7/10. They offer a solid selection of valuable features with their packages, and they have a high volume of positive customer reviews.
However, they don’t include registered agent service except in their most expensive package. In addition, their price points in general are a bit higher than some competitors who do include registered agent.
Quick Note: If you’re on the hunt for the best value possible in an incorporation service, we recommend ZenBusiness. This service is $40 less than MyCompanyWorks, has comparable features and hundreds of positive online reviews.
Deep Dive: MyCompanyWorks Review
Overall Pricing and Value – 6/10
MyCompanyWorks landed somewhere in the middle during our review of the most popular incorporation services. While they’re not as expensive as some services, there are also more reasonable offerings available. Their basic package is $79, which isn’t a bad price considering the business documents included, but there are some competing companies that offer lower prices while also including a year of registered agent service.
MyCompanyWorks does guarantee that they’ll process your order within one business day without charging extra, which is definitely a welcome feature. And, even though you do have to pay extra for their registered agent service, it only costs $99 per year, which is one of the lowest prices we’ve seen.
However, we found that while there seems to be a long list of features for each package, some of them are “fluff” to make it seem like you’re getting more. Also, with the higher-level packages costing $199 and $279, we would expect to see a bit more by way of added value.
Track Record – 8/10
Founded as MyNewCompany in 2001, they recently changed their name to MyCompanyWorks. Since they opened for business, they’ve helped form more than 60,000 companies.
One aspect of their service that we really appreciate is their 100% satisfaction guarantee. It’s one of the best refund policies in the industry, as they will refund your service fee at any time within 90 days of your purchase, for any reason.
They also made Inc5000’s 2017 list of the fastest-growing private companies, which is an impressive accomplishment. This indicates that customers are using the service and either returning to use it again or recommending it to friends.
When it comes to customer feedback, MyCompanyWorks truly shines. They have over 2,600 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 – 7/10
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 question 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.
The only downside to their customer support is the fact that their phone support is only available from 11am to 7pm ET Monday through Friday, which are among the shortest availability hours in this industry.
Ease of Placing an Order – 7/10
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 to be as convenient as possible.
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 – 9/10
MyCompanyWorks guarantees that they’ll process your formation paperwork the same day you submit your order if it’s before 3pm ET, or the next business day if you submit your order after 3pm ET. They also offer an upgrade to expedite service with the state once paperwork is filed.
Overall, MyCompanyWorks can have your LLC or corporation formed within just one business day in some states, while others can take a few weeks. Regardless of which entity you’re forming, or where you’re forming it, they have detailed 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 their competitors, so this category is a pro for MyCompanyWorks.
Pricing & Features of Each Package
Like most formation services, MyCompanyWorks offers three packages. At first glance, it appears that they include quite a bit in their packages, but some of it is “fluff” added to make the list of features look more impressive. For example, they list things like customer support and order tracking as features.
That being said, they do offer a handful of great features that would be very helpful to new business owners. We’re excited to see that they were even included in the basic package, making it a pretty nice value for the price, even though it does exclude registered agent service.
As with many services, the features that are included in the price of larger packages are available as individual add-ons for the lower-level packages. This personalization can be great for a business owner working within a budget who may need one feature, but not others.
This Package Is Best For: Entrepreneurs looking to form an LLC or corporation while receiving some helpful business documents.
The Basic package costs $79 plus the state filing fee, and it includes:
- Name availability search – MyCompanyWorks will search your state’s business database to make sure that your desired company name is available, and hasn’t already been claimed by another business entity.
- Preparation and filing of articles of organization (LLC) or incorporation (corporation) – They will create your formation documents, then submit them to your state government to officially form your new business.
- Custom meeting minutes – Minutes provide an outline for your official business meetings, and also provide space to take notes on what happens at those meetings. While minutes are only required for corporations, MyCompanyWorks provides them for LLCs as well.
- Startup Wizard interactive startup checklist – This helpful document outlines the additional steps you’ll need to complete after your formation (like acquiring licenses and permits) in order to operate your LLC or corporation in compliant fashion.
- Free ebooks
- Electronic access to scanned copies of your completed formation documents
- Custom operating agreement – This internal document outlines how the business will be governed from both managerial and financial standpoints.
- Custom bylaws – The bylaws are the internal rules and regulations for the daily operations of the corporation, including items like how many directors are on the board, when/where shareholder meetings are held, etc.
This Package Is Best For: Entrepreneurs who want to form an LLC or corporation while also getting an EIN and compliance binder.
The Entrepreneur package costs $199 plus the state filing fee, and it includes all features from the Basic package. This package also includes:
- Federal tax ID number (EIN) – MyCompanyWorks will acquire your EIN, which you’ll need if you want to hire employees, and it also helps you pay business taxes, open business bank accounts, etc. You can acquire your own EIN from the IRS for free, but this feature removes that hassle.
- Business kit, seal, and certificates – You will receive a binder embossed with your company name, along with a decorative seal customized with your business info. Finally, you’ll either receive custom membership certificates (LLC) or stock certificates (corporation).
- MyCompanyForms – Lifetime access to MyCompanyWorks’ 200+ professionally prepared sample forms to help you operate your compliant business well into the future.
This Package Is Best For: Entrepreneurs who want to form an LLC or corporation while getting everything they could possibly need to get off the ground with minimal effort.
The complete package is $279 plus state filing fees. It includes everything from the Entrepreneur package, then adds registered agent service.
As your registered agent, MyCompanyWorks will receive your important document deliveries, scanning and forwarding them to you as necessary. This keeps your personal info out of the public record, cuts down on junk mail, and eliminates the risk of missing an important delivery.
After your included first year, registered agent is available from MyCompanyWorks for just $99/year, which is a lower rate than most competitors charge.
MyCompanyWorks doesn’t offer many add-on services, as they only have two of them (plus some third-party partnership offers) on the order form. For $99, you can get a business license compliance package, which means they’ll research which federal, state, and local licenses and permits you need to operate a compliant business. They’ll acquire the applications for these permits and deliver them to you, so all you need to do is fill them out and submit them to the appropriate government entity.
The only other add-on is the “MyCompanyWorks Premium” upgrade, priced at $99 per year. This feature includes the filing of your annual report and access to a compliance dashboard. They will also monitor your business to ensure it is in good standing at all times, alerting you if for some reason you fall out of good standing.
Final Thoughts on MyCompanyWorks
Overall, despite the lack of registered agent service, we like the MyCompanyWorks Basic package. At $79, this package is quite reasonably priced considering the bonus documents you receive.
The issue with MyCompanyWorks’ pricing is that the Entrepreneur and Complete packages don’t provide enough value to justify their price tags.
Their client feedback is very good, and their customer support is strong as well, despite the short hours of operation. They’re one of the top options among services that don’t include registered agent with their formation packages, although their low rate for ongoing registered agent service does make up for this somewhat.
While there are cheaper options available that also include registered agent, MyCompanyWorks is still a justifiable option, especially if you’re looking for some business documents to go with your LLC or corporation formation.
That said, if you’re looking for the best value possible in an incorporation service, we recommend ZenBusiness. This service is $40 less than MyCompanyWorks, has comparable features and hundreds of positive online reviews.
How Does MyCompanyWorks Compare to LegalZoom?
We get lots of questions from our readers about LegalZoom, which is understandable because they’re the most well-known company in this industry.
When stacked side by side, MyCompanyWorks is a better option for incorporation services than LegalZoom. MyCompanyWorks not only has lower price points, but they also receive outstanding customer reviews, especially compared to the mediocre client feedback LegalZoom has.
What Are MyCompanyWorks’ Biggest Advantage and Disadvantage?
The biggest advantage for MyCompanyWorks is the aforementioned top-notch customer feedback. Even with their high volume of reviews, MyCompanyWorks maintains excellent rating scores on review websites, which provides great peace of mind for people thinking about using their services. The vast majority of their customers seem satisfied with what they have to offer.
If I Use MyCompanyWorks, Which Features Should I Buy?
When we shop for LLC or incorporation service, we like to find a package that offers the full formation process, along with registered agent service. However, MyCompanyWorks only includes registered agent with their top-tier Complete package, which is somewhat overpriced due to the inclusion of some unnecessary features (like the business kit and seal).
So, our recommendation would be the $79 Basic package, with a year of registered agent added for $99. Alternately, you could use ZenBusiness or Northwest Registered Agent, which have price points of $49 or less that include a year of registered agent.
Do They Offer Publication Service?
In some states, you need to publish your company’s formation in a regional newspaper. For example, Arizona and Nebraska require publication for LLCs and corporations, New York requires it for LLCs only, and Pennsylvania and Georgia have this requirement for corporations only.
MyCompanyWorks does not offer publication service, but they will provide a set of step-by-step instructions to help you complete your own publication requirement. It’s better than nothing.
Does MyCompanyWorks Help With Ongoing Compliance Requirements?
They certainly do, but these features are either only included with their most expensive formation package, or not included at all, so you’ll most likely need to add them a la carte.
MyCompanyWorks offers registered agent service for $99/year, and they also have their MyCompanyWorks Premium feature for $99/year, which includes managed annual report service and a compliance dashboard.
What Is Their Refund Policy?
The MyCompanyWorks refund policy is somewhat convoluted, because depending on when you request your refund, they will assess a processing fee of either $25, $50, or $75. You only have a limited time to request a refund with MyCompanyWorks to begin with, because their refund window closes as soon as they submit your formation documents to the state.
Do I Need to Use a Formation Service?
You don’t need to use a professional service to form a business entity, and plenty of entrepreneurs do choose to form their own corporations every day.