Do you need some assistance forming a corporation, but you’re not sure which online incorporation service is the best choice to help you?
In this comparison guide, we’ll take a look at the five crucial factors that we use to analyze every incorporation service. Is ZenBusiness the right fit for your company? Or is MyCorporation the preferred option? Let’s find out.
Key Comparison Points
In our review and comparison of each online incorporation service, we performed a “stress test” on each based on 5 key factors:
- Compared pricing and features to determine overall value.
- Researched their track record.
- Assessed the quality of customer service.
- Tested their ordering process and service’s ease of use.
- Reviewed the turnaround times for incorporating online.
As you’ll see in this comparison review of ZenBusiness and MyCorporation, they are both good incorporation services.
However, we think ZenBusiness is the better option because of their much lower prices and their year of included registered agent service. In fact, they’re one of the best options online.
Overall Pricing and Value
ZenBusiness: There’s only one company in this industry that offers to form your new business entity for just $39, and that’s ZenBusiness. What’s even more impressive is that this package includes not only your incorporation, but also registered agent service, a risk-free assessment with one of their in-house CPAs, and corporate bylaws. If you want some additional advanced features, we’re also fans of their $149 plan, because it adds annual report service, a banking resolution, a federal tax ID number (EIN), and compliance monitoring.
MyCorporation: While MyCorporation has reasonable prices at first glance, the fact that they add a $34 shipping charge on top of all their advertised rates makes them far less impressive. Their Basic package costs a total of $133 and includes no additional features, but their $158 Standard package is a better deal because it includes a year of annual report service. Unfortunately, MyCorporation only includes registered agent service with their top-tier Deluxe ($258) and Premium ($358) plans.
Winner = ZenBusiness
Not only does ZenBusiness provide a $39 incorporation service package, but their upper-tier packages include more valuable features for less money than MyCorporation does. This category is a big win for ZenBusiness.
Company Track Record & Experience
ZenBusiness: ZenBusiness just recently got their start in the incorporation service industry, as they were formed in 2015. Even though they’re such a recent addition to the market, they’ve already formed thousands of LLCs and corporations, and they mention on their website that they aim to form one million businesses in the next five years. When it comes to customer feedback, ZenBusiness beats most of their competitors ― even much more seasoned companies ― with their hundreds of customer reviews that are almost all positive in nature.
MyCorporation: MyCorporation is in the midst of their third decade in the industry, after opening for business back in 1998. Over the years, they’ve helped an impressive number of customers, as they’ve formed over one million businesses. They also have customer feedback numbering in the hundreds of reviews, and most of that feedback is positive.
Winner = MyCorporation
These companies are equals when it comes to customer reviews, as they both have high volumes of positive feedback. However, MyCorporation has much more experience than ZenBusiness does, so they’ll take home the win in this category.
ZenBusiness: With ZenBusiness, you can access their customer service team via phone, email, or web chat. No matter which of these options you choose, they always respond quickly, and their representatives are friendly and informative.
MyCorporation: MyCorporation has customer support that is available by phone or by email. Their response times are very fast, as we’ve never spent much time on hold or waiting for an email reply. In addition, their employees are helpful and knowledgeable about the products and services available from MyCorporation.
It’s a tie!
The customer service offerings from these two companies are quite similar. They both have fast response times, and they have both always been able to answer even our toughest questions. Overall, we have no preference between them in this category.
Ease of Use
ZenBusiness: Forming a new corporation is very easy with ZenBusiness, thanks to their intuitive web design and user-friendly ordering process. The only steps you’ll need to complete are selecting which package you’d like to purchase, and providing them with your basic personal and business information ― they’ll take care of the rest. We only have one minor gripe with them in this area, as their order form has a few upsells and third-party offers on it.
MyCorporation: The formation process with MyCorporation is straightforward and convenient. Their application is easy to fill out, as it took us only about ten minutes to work our way through the order form. However, they work in a few upsell attempts, and many third-party partnership offers that really clutter up the process. We counted six different attempts.
Winner = ZenBusiness
These companies both make the business formation process relatively simple, but MyCorporation piles on the third-party partnership offers to a ridiculous degree, which can add confusion. That was enough for us to award this category to ZenBusiness.
Speed of Formation
ZenBusiness: ZenBusiness bases their turnaround times on which formation package you purchase from them, while the vast majority of their competitors have estimates based on each individual state’s business formation processing speeds. Their Starter package has a 3-4 week turnaround, their Pro package can be completed in 1-2 weeks, and their top-tier Premium plan takes 3-5 days.
MyCorporation: Their turnaround times are unclear at best. Whereas most companies in this industry list standard and expedited processing speeds for each state, MyCorporation does not. In addition, if you want to expedite your order, they charge an extra $100 in-house rush service fee on top of the state’s expediting fee, and they still don’t give you a turnaround estimate. Instead, they simply say that expediting your order could increase your formation speed “up to 85%.”
Winner = ZenBusiness
Normally, we strongly prefer companies that base their turnarounds on the capabilities of each state. However, MyCorporation is just too confusing.
When you look at how many categories each of these companies won in this comparison, you’ll see a three-to-one advantage in favor of ZenBusiness, with one tie.
However, we feel like the gulf between these two service providers is wider than that, as some of ZenBusiness’ wins in this competition are of the blowout variety ― including overall pricing and value, which is easily the most important category.
While MyCorporation does have an advantage when it comes to experience, ZenBusiness leaves them in the dust, thanks to their superior value and ease of use, and their more transparent turnaround times.
Don’t get us wrong though, MyCorporation is still a quality option, and if you prefer their services, we don’t blame you! Still, for our money, ZenBusiness is the better choice.
What Is the Biggest Advantage of Each Service?
ZenBusiness has a significant advantage over not just MyCorporation, but over every other company in this industry. That, of course, is their offering of a fully featured business formation service package for just $39.
As for MyCorporation, they have a couple of advantages over ZenBusiness as well, with the biggest one being their experience, as they’ve been around for much longer than ZenBusiness has.
Which Is the Best Package Available From These Services?
When we shop for business formation service, we always look for the most affordable package that includes registered agent service along with the formation process.
Not only is the ZenBusiness Starter package our favorite package from these two companies, but it’s actually one of our favorites in the entire industry. This plan costs $39 (for the first year, $119 after that), and bundles together the formation of your business entity, along with registered agent service. You’ll even receive corporate bylaws and a CPA assessment as well.
Which Company Offers More Help With Ongoing Compliance Requirements?
You can get plenty of quality assistance with ongoing compliance issues from either of these companies. ZenBusiness provides registered agent service $119 per year, and they also have annual reports available for $75.
MyCorporation offers these features as well, with registered agent priced at $120/year, and annual report service costing $99.
Can I Get a Refund if I Need One?
Take a look at what ZenBusiness explains in their own words: “Once ZenBusiness has submitted your business for filing with the State under no circumstances can you charge-back or dispute the fees associated with forming your business. If you contact ZenBusiness before your business has been submitted for filing with the State, ZenBusiness may refund the charge, less a $50 cancellation fee, if certain conditions are met.”
MyCorporation’s refund policy is much better. They provide a 60-day window in which to request a refund, and they will grant it with no questions asked. If you purchased any physical products (like a business kit), or if you need your business documents altered in any way, they do charge a $25 reprocessing fee.
Which Is the Better Option if I Need 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.
While MyCorporation does not provide their clients with any assistance for publication requirements, ZenBusiness actually offers to handle this step on your behalf. It’s a big advantage if you need to incorporate in one of these states.
Do Either of These Services Go Overboard With Upsells or Third-Party Partnerships?
Both of these service providers have a handful of third-party partnership offers and upsell attempts, but we feel that ZenBusiness keeps both of them to a relative minimum.
On the other hand, MyCorporation has a ton of third-party offers. In fact, they’re one of the main reasons we added this question to our FAQ sections, as they have six attempts to share or sell your information as you work your way through their order form.
Am I Required to Use a Formation Service?
There is no legal requirement that dictates the usage of a professional formation service to form a new business entity. In fact, we even have our own step-by-step instructions to help you form your own corporation if you would like to try the DIY option.