Do you need to form an LLC or corporation, and you prefer to have a professional service handle the paperwork for you? MyCorporation 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. Alternatively, you can check out our comparison guide of the top online incorporation services.
Why We Scored MyCorporation 6/10
When it comes to online incorporation services, here’s what matters most:
- Does the company offer good value for what you pay?
- Do they have a track record for providing high-quality service?
- Do they offer good customer support if you need help?
- How easy is it to place and create an order?
- How quickly is your business formed?
Based on these criteria, MyCorporation scored a 6/10. The services offered by MyCorporation are very similar to other service providers, although there is one feature that makes it unique in the marketplace (details below).
Unfortunately, the price for their basic service is more expensive than the rates we’ve found elsewhere, and they charge you extra for some services that others typically provide for free ― like their $34 shipping and handling fee ― driving the total cost up.
MyCorporation Overall Pricing and Value
In our opinion, MyCorporation is in the upper-mid range of business formation services we reviewed. Most of their packages don’t have bad prices for the features included, but one major drawback is that their registered agent service is only included in their Deluxe and Premium packages.
With four package offerings, there are more choices available for business owners than what many other services offer. While their $123 Basic package is tremendously overpriced for such a barebones formation package, their $133 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 $233, and adds a year of registered agent service to the foundation of the Standard package. Finally, MyCorporation’s Premium package at $333 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 your first year of registered agent is quite reasonable at $120, but for subsequent years, that price skyrockets to $169, which is one of the highest rates we’ve seen.
In general, because registered agent isn’t included in either of their lower-priced packages, you’ll generally need to spend more money to form your LLC or corporation with MyCorporation than you will with some of their competitors.
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 couple 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 200+ reviews we found for MyCorporation, over 90% of them are either 4- or 5-star reviews, which is obviously an excellent ratio of satisfied customers. 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.
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 select 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 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 major disadvantage for MyCorporation.
Pricing & Features of Each Package
MyCorporation offers four packages. Each one has a list of features that come standard for that price point, and all features included in higher-priced packages are also available as add-ons for the lower-priced packages. Rush filing can be added on to any of the packages for an extra $100, but again there is no specific time estimate or guarantee.
There are a couple pros and cons that stood out to us in comparing similar company formation services. First off, they’re one of the only formation services that charges a separate shipping fee, so we’ve added that $34 expense to each of the package prices listed below.
On the positive side, with the exception of the Basic package, MyCorporation’s managed annual report service is included at no extra charge. This can be a huge time-saver for business owners, and it’s not a feature you see included with many competitors’ formation packages. Furthermore, MyCorporation is one of the best annual report service providers in the industry.
With that, let’s dive into what you get with each package.
Best for: Entrepreneurs looking for the essentials with no additional features when forming an LLC or corporation.
The Basic package is priced at $123 plus the state filing fee, and it includes:
- Name availability search – Swyft Filings 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.
Best for: Business owners who want some assistance with ongoing compliance requirements.
The Standard package costs $133 plus the state filing fee. It includes everything from the Basic package, plus:
- One year of managed annual report service – MyCorporation will track your annual report’s due date, then prepare and file your report before your deadline. After your included first year, this feature auto-renews for $99 per year, unless you cancel it.
Best for: Business owners who want to form an LLC or corporation, with registered agent service included.
The Deluxe package is priced at $233, and it includes everything from the Standard package, plus:
- One year registered agent service – As your registered agent, MyCorporation 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 first year, registered agent is available from MyCorporation for $169.
Best for: Entrepreneurs looking to secure ongoing compliance filings for their LLC or corporation.
The Premium package costs $333. It includes everything from the Deluxe package, while adding:
- One year MaintainMyBiz service – This is a feature that’s exclusive to MyCorporation, and it includes up to four document filings or business accessories within one year of your formation. With this feature, you get your choice of a corporate seal, S corp election, amendment, stock certificates, membership certificates, corporate minutes and bylaws, LLC operating agreement, doing business as (DBA) name, foreign qualification, certified copies, apostille, dissolution, reinstatement, and certificate of good standing.
Final Thoughts on MyCorporation
We have mixed feelings regarding MyCorporation’s online incorporation service. They have lots of experience and excellent customer reviews, and the inclusion of annual report service with most of their formation packages is a welcome feature.
On the other hand, their prices feel like they’re a bit too high, especially once you factor in the rather outrageous $34 fee for shipping a few pieces of paper. We’re also unimpressed by the fact that they don’t include registered agent with any of their formation packages.
Overall, MyCorporation certainly has some advantages, but for most of our readers, we feel like there’s better options out there for business formation service.