Do you need to incorporate online 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 incorporation services and top LLC services.
Overview
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, MyCorporation is a good service. 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.
In-Depth: MyCorporation Review
MyCorporation Overall Pricing and Value
In our opinion, MyCorporation is in the middle tier of business formation services we reviewed. Most of their packages don’t have terrible 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 many other services offer. While their $133 Basic package is overpriced for such 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, because registered agent service isn’t included in either of their lower-priced packages, 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 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 (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 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 to any of the packages for an extra $100 (plus state fee), but again there is no specific time estimate or guarantee.
There are a couple of 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.
Basic ($133)
Best For: Entrepreneurs looking for the essentials, with no additional features when forming an LLC or corporation.
The Basic package is priced at $133 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.
Standard ($158)
Best For: Business owners who want some assistance with ongoing compliance requirements.
The Standard package costs $158 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.
Deluxe ($258)
Best For: Business owners who want to form an LLC or corporation, with registered agent service included.
The Deluxe package is priced at $258, 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 $120.
Premium ($358)
Best For: Entrepreneurs looking to secure ongoing compliance filings for their LLC or corporation.
The Premium package costs $358. 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.
Who Is MyCorporation Best For?
We’ll be honest: MyCorporation isn’t our favorite business incorporation service.
That said, they do have one of the longest track records in the industry. So if you want to work with a very established brand, MyCorporation is a great option.
MyCorporation is also good for entrepreneurs who don’t want to deal with their own annual reports. That’s because MyCorporation includes their managed annual report service at no extra charge (excluding their most basic package). Not many other services do this, and it can be helpful for maintaining your new business.
One other advantage to MyCorporation is the fact that they also offer assistance for trademarks and copyrights. If you work with creative ideas and want to protect those ideas, then MyCorporation can be your one-stop shop for forming your business and protecting your ideas.
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:
- Select your state and the type of business you want to form.
- Choose your package and add-ons.
- 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.
- Select or decline MyCorporation’s favorite services for entrepreneurs.
- 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.
What Are Their Customers Saying?
MyCorporation’s best quality is their customer service, and that’s clear in most of their reviews. Of course, they do have some negative reviews, too (that’s expected for a business that’s existed for more than 20 years).
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 went missing or was delayed
- Tough to unsubscribe from services
LegalZoom vs MyCorporation: What’s the Difference?
On the surface, LegalZoom and MyCorporation seem to accomplish the same purpose: helping you form your LLC. And while that’s true, the difference between them goes much deeper than that. Here are a few key differences:
- LegalZoom is the most well-known incorporation service available, probably because they advertise more than any other company in this industry.
- In general, compared to LegalZoom, we prefer MyCorporation because of their positive customer feedback and their valuable annual report service feature.
- LegalZoom has an impressive customer volume of more than 6 million customers. More than 2 million of those customers are businesses, giving them one of the most impressive client lists in the industry.
- LegalZoom and MyCorporation are roughly the same age. And while LegalZoom has a much bigger client base and a higher volume of feedback, MyCorporation has slightly better customer reviews across the board.
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 too high, especially once you factor in the $34 fee for shipping a few pieces of paper. We’re also unimpressed by the fact that they only include registered agent service with their two most expensive 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 – like ZenBusiness.
Common Questions
What Is MyCorporation?
MyCorporation is an online business formation service based out of California. With a slogan of “Entrepreneurs Welcome,” they’ve helped form more than 1 million businesses since their founding in 1998.
One of the most unique features of MyCorporation is their approachability; you can reach their CEO easily. She’s put her Twitter handle and an invitation to contact her through Google+ right on their website.
What Are MyCorporation’s Biggest Advantage and Disadvantage?
In our opinion, MyCorporation’s biggest advantage is the inclusion of their managed annual report service with all but their cheapest LLC and incorporation service packages. Their biggest disadvantage is their comically high $34 shipping charge for mailing several sheets of paper.
What Is MyCorporation’s Order Process Like?
Have you ever tried to order something online, only to get lost in a never-ending series of cluttered web pages? The harder it is to order a service, the less likely you are to use it. Streamlined ordering is an important component of any good formation service.
Overall, MyCorporation makes it easy to complete your purchase. You start out by selecting your state, the business type you want to form, and your package. Once you’ve done that, you can add on a few extras if you wish. That’s when you start entering your business information. After that, MyCorporation does offer a few upsells before you complete your purchase.
Those offers are usually based on the package choices you made earlier. But whenever you add on a feature, MyCorporation updates your total price. That way, you’re never surprised by the total cost when you arrive at the payment page.
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.
Unfortunately, when we gave MyCorporation a call to inquire about publication service, they told us that they do not offer any level of assistance with this requirement.
Does MyCorporation Help With Ongoing Compliance Requirements?
The MyCorporation Deluxe package is a great way to set up any company for compliance into the future. With registered agent and managed annual report service included, you have two powerful tools to ensure the ongoing compliance and good standing of your business.
What Is Their Refund Policy?
MyCorporation’s refund policy isn’t exactly straightforward, but in general, you have 60 days to request a refund. Depending on whether you ordered any physical products, or if you require changes on documents, they will assess a $25 “reprocessing fee.”
Do I Need to Use a Formation Service?
You do not need to use a professional service to form a business, as you can form your own LLC, corporation, or nonprofit anytime you’d like to. It’s not uncommon for entrepreneurs to form their own businesses, but we do have some reservations about it.