MyCompanyWorks (ex MyNewCompany) is one of USA’s most reputable providers of incorporation, LLC formation, and other services for small and middle-sized businesses. The fast-growing company has been providing its services on the market since 2001. Since then, MyCompanyWorks has helped to form over 60,000 businesses, providing its clients with a 100% satisfaction guarantee.
Their main goal of the company is to help entrepreneurs or their advisors to start their businesses in the fastest, easiest, and most affordable way. With the help of MyCompanyWorks, thousands of companies were formed, thus, non fewer clients were satisfied. We can all face challenges when starting a business, so in order to avoid costly and confusing experiences, you can hire MyCompanyWorks to save your money and time.
If you plan to form an LLC using a professional team with experienced employees who will handle all the paperwork for you, then MyCompanyWorks’s virtual office welcomes you! They know how to get the job done fast and smooth. They will create your formation documents and submit them to your state authorities to legally form your new entity, they will also search your state’s database to find an available business name for your company, provide you with all the necessary support you need, as well as give access to any completed formation documents you need, and they give a 100% guarantee in every package! All this and much more makes this company’s LLC formation services a solid choice for many entrepreneurs.
Today, we are going to discuss all the benefits that you can expect from this company. Read our MyCompanyWorks LLC service review to find out if this company meets your business goals.
MyCompanyWorks offers 3 packages (Basic, Entrepreneur, and Complete). Each of them has a lot of useful (and not that useful) services. However, as always, everything depends on your business type and goals. The Basic package offers business name availability search, preparation and filing of Articles of Organization, personalized LLC operating agreement creation, organizational minutes, a handbook on LLC operation, and the Startup Wizard compliance checklist tool.
The Entrepreneur package includes all of the above-mentioned services, along with an additional EIN number, which allows you to hire employees and file taxes, a Corporate Kit (along with a seal, and stock certificates for structure organization), and a huge MyCompanyWorks document library with over 200 sample forms.
The Basic ($79 + state fees) package includes the following services:
- Unlimited name-checks;
Articles of Incorporation preparation and filing;
- Custom organizational minutes;
- Online order tracking and Status Updates;
- Same business day processing;
- Order is audited for compliance and spelling;
- Unlimited phone/email support;
- The new corporation handbook;
- The Startup Wizard checklist;
- Free company alerts and annual report notifications;
- Access to scanned documents online;
- Free eBook: Startups Made Simple;
- Lifetime access to “My Account”.
These and the following services are included in the Entrepreneur ($199 + state fees) package:
- OBTAIN Federal Tax ID ($49.00 / Basic package);
- Corporate Kit, Seal, and Stock Certificates ($69.00 / Basic package);
- MyCompanyForms™ Lifetime Business Forms & Tax Guide ($39.00 / Basic package).
You probably know that every company is required to have a “minute book,” right? That’s where you keep all important paperwork, e.g. your company’s state filing documents, meeting minutes, etc. By the way, custom meeting minutes will provide an outline for your company’s business meetings, and space to take notes on what’s going on at them. MyCompanyWorks provides minutes for LLCs just like for corporations.
And this where you can use a Corporate Kit. MyCompanyWorks’s Corporate Kit offers a 3-ring binder, embossed with the company name, index tabs, dividers, 20 sample stock or membership certificates, a Corporate or LLC Seal with your company name, and a Stock Transfer Ledger. How cool is that? Seems nice to us! Thus, if you need a properly managed minute book, you might want to consider this kit.
We would also like to look in detail at the Startup Wizard interactive startup checklist from MyCompanyWorks. This service is sort of like an ultimate startup checklist, customized to your unique business goals, company type, and location (state). The Wizard can help you with opening a bank account or you can get a business license, as well as set up your accounting system. Basically, this means that you now have your very own personal online checklist! Thus, if, say, you will need to file an Initial List for your LLC in Florida, our checklist will give you all the necessary recommendations and instructions for that, as well as many other important startup tasks.
Startup Wizard main features:
- Exports as a PDF file;
- Fully tracks each step of your progress;
- Included FREE with every entity formation;
- Versatile usage for multiple companies. Track each of them separately;
- Sends reminders via email with a PDF summary of the remaining steps;
- Covers getting a business license or resale permit;
- Clear and easy guidance for Organizational Meetings, adopting Operating Agreements, and Member Certificate issuing;
- You can unsubscribe at any time.
Startup Wizard benefits:
- Save your time and money due to clear step-by-step guidance and a simple checklist;
- No need to learn legal forms or procedures – form your new company fast and easy;
- Give your clients personalized guidance by utilizing the service for them;
- Prevent any expensive mistakes in the future and ensure peace of mind.
All of the above-mentioned services + a Registered Agent Service ($99.00 per year for Basic and Entrepreneur packages) are included in the Complete ($279 + state fees) package
Optional free services include the following options:
- Free Business Tax Consultation;
- Free Domain Name and 1 Year Hosting Offer;
- Free Startup Business Funding Consultation;
- $450 Bank of America Small Business Banking Offer;
- Delay Filing to 2021.
Optional paid services include the following options:
- Prepare S-Corporation Election ($25);
- Business License Compliance Package ($99);
- MyCompanyWorks Premium ($99 per year).
Click this link for more details on the packages.
MyCompanyWorks Pros & Cons
- Automated billing, e-mails, notifications, etc.;
- Professional customer support service;
- High level of security;
- Fair state fees;
- No hidden charges;
- Free timely alerts and report notifications;
- File in any state;
- 100% Satisfaction Guarantee (beneficial Return Policy).
If customer feedback is important to you, you can check Google reviews (52 reviews, 4.7 out of 5 rankings), Shopper Approved (4.9 out of 5 rankings based on 3,000+ reviews), eKomi (4.8 based on 947 reviews), and an A+ BBB or SmallBizGenius ratings to see it all for yourself.
MyCompanyWorks surely offers excellent customer support via phone or email (you can expect them to answer within 20 minutes by email), 100% guarantee in every package, affordable LLC services, the interactive Startup Wizard with step-by-step instructions, and same-day order processing, no matter the package (applies to orders placed before 3 p.m.).
- Service cost is not the lowest in the industry;
- You have to pay extra for their Registered Agent service (Basic/Entrepreneur, $99 per year);
- More features could be included (some are obviously “fluff”);
- Customer support is available from 11 a.m. to 7 p.m. ET Mon-Friday;
- Some reviews on Google are negative.
MyCompanyWorks Customer Reviews
When it comes to client feedback, MCW is really impressive. They can boast of over 2,600 online reviews, with 97% of them being rated either 4 or 5 stars. In positive reviews, their clients often particularly highlight how fast and responsive customer service is and how easy it is to form a business using their services. Especially, when MCW does almost everything for you!
MyCompanyWorks is known to be clear and transparent with its customers, ensuring all of them understand every step of the formation process.
However, according to recent Google reviews, there are still a few unsatisfied customers blaming their customer service for not responding on time. And that’s considering the fact that, according to MyCompanyWorks statements, their customer support service is a pillar of the company. Some customers are also dissatisfied with MCW for charging a so-called “resignation fee”. Well, we suppose they all got their refunds, as prescribed In the 100% guarantee.
Latest Customer Reviews
Google: “As so many times I try to contact with your company’s mailbox but there is no reply regarding rupee4click in India office. I suggest you not to cheat people by such Froud work on the name of work from home.” Pawan Kachnare
Shopper Approved: “I have used MyCompanyWorks before and had referred several friends. The website is simple to navigate and the customer service is always excellent!!
The customer service is excellent and beyond what I expected from an online business like MyCompanyWorks.” 5 out 5. Joseph Y.
Should You Start an LLC with MyCompanyWorks?
If you have some extra funds to order their Complete package with a registered agent service, then it definitely makes sense. You will save your time with all the paperwork, allowing yourself to enjoy more freedom, flexibility, and confidence while staying focused on developing your business.
You might want to choose MyCompanyWorks if:
- You value responsible customer service and feedback;
- Registered agent service is not the priority. Otherwise, you will have to order this service separately for $99 per year (Basic/Entrepreneur packages);
- You need a customized LLC operating agreement, which is an internal document to see how the business will be governed from both managerial and financial standpoints.
You might want to consider an alternative to MyCompanyWorks if:
- You have a limited budget;
- You need a Registered Agent service in a standard package.
Some of MCW’s competitors offer a registered agent service in all their packages, however, the price may be higher. Thus, alternatively, you might want to consider ZenBusiness, which is one of the best LLC formation services on the Web if you’re forming an entity on a budget but still want all the essential features. Or you can also try Northwest Registered Agent and LegalZoom services with reasonable prices.
Frequently Asked Question
Yes. MyCompanyWorks has over 3,000 online reviews, confidently keeping their high positions in rating scores. Their clients often praise their customer service, convenience and ease of use, and strong overall value.
You can check their Startup Checklist with 12 steps required to start a business in any State:
1. Choose a name and legal structure;
2. Write a business plan
3. Obtain your Federal Employer Identification Number (FEIN)
4. Open a bank account for the company;
5. Lease an office, warehouse, or retail space (if not home-based)
6. Obtain licenses and permits
7. Hire employees (optional)
8. Set up and accounting and record-keeping system
9. Obtain business insurance
10. Systemize and organize
11. Develop a business identity
12. Create a marketing plan.
Yes. This is the main pillar of the company, after all. However, according to some Google reviews, there is always room for improvement.
No. Plus, they don’t insist on upsells, as some of their competitors do. However, you should know that MCW does have a few third-party partnership offers which imply sharing/selling your info to other companies.
These third parties have access to your Personal Data only to perform these tasks on our behalf and are obligated not to disclose or use it for any other purpose.”
MyCompanyWorks offers same-day processing if you place an order before 3 p.m. during a business day.
$200-500 to start a company, on average. Then about $100-150 annually for all the paperwork, a fee to the state for filing tax returns. The cost varies by state – the most expensive state is Massachusetts (LLC formation cost: $500 by mail or $520 online (one-time fee) + annual report: $500 by mail or $520 online (every year)).
As for the tips, pay attention to the EIN and Registered Agent services. The EIN will be used further when opening a bank account and getting a payment gateway. The Registered Agent, in turn, is a way of communicating with the government by receiving various legal and tax documents on behalf of your company. In the absence of a registered agent, the company will be administratively dissolved and will have to pay an additional fee (about $100) to restore its operations.
Once the order is made, you will receive all documents and instructions in the email. It’s required to hold an organizational meeting, issue shares, and mail or fax Form SS-4 to the IRS https://www.irs.gov/. And wait to receive a confirmation letter about the EIN number assignment.