Last updated on: August 28, 2021
Are you planning to open an LLC with the help of a professional online company? Don’t know what LLC formation services to choose?
Consider contracting with MyCorporation. This company has been operating for over 20 years and is one of the most experienced companies when it comes to creating and comprehensively supporting a business. Forming an LLC with MyCorporation means that you will save money, time, and nerves, and will be guaranteed to get high-quality results as quickly as possible.
In this MyCorporation LLC service review, we’ll take a close look at the company’s pricing policy, formation packages options, and their contents. We will also talk about MyCorporation’s pros and cons, for you to have everything you need to make an informed decision.
Why use MyCorporation?
MyCorporation was founded in 1995 and since then, with over a million businesses served, it has earned many loyal customers and a reliable reputation. Its extensive experience makes it possible to simplify the LLC start-up process, making it as comfortable and fast as possible.
MyCorporation’s business formation services offer a wide range of useful additional services. They can not only launch an LLC but also help with issues such as:
Thus, all aspects of MyCorporation are focused on the needs of a wide variety of business categories. Whether you simply want to entrust an online LLC formation to professionals or are interested in a comprehensive service, MyCorporation is the right option.
MyCorporation LLC Formation Packages
Let’s get to the main thing – MyCorporation LLC Formation Packages and their content.
There are four options for pricing and packages of MyCorporation:
In addition to the LLC services offered, each of the listed packages includes several add-ons services that make conducting business easier. Therefore, if you decide to start an LLC formation with MyCorporation, you can effectively distribute the costs to create an LLC by selecting the right set of services.
The MyCorporation starter package for $99 + additional state fees includes everything you need for opening an LLC in compliance with the law. When you purchase it, you’ll have access to the following features:
- Name availability check: one of the most important conditions when registering a company is to have a unique name. MyCorporation will check and search the state’s business database to make sure that the name you want is available;
- Preparation and filing of Articles of Organization: to officially form your LLC with the government, every company must file the Articles of Organization. This is a basic document, and any mistakes in it can have serious consequences, so we recommend that you entrust the preparation and filing of this document to professionals;
- Operating Agreement: this document establishes the management structure as well as the basic principles of an LLC. Although most states do not require an Operating Agreement, experienced entrepreneurs insist on its importance;
- The MyCorp Document Storage service: it is a handy online tool for storing all LLC business documents in one place;
- Sample minutes: LLCs should keep meeting minutes of the most important issues. MyCorporation can prepare a sample document for you.
The Basic package is a low-cost solution for those who want to register their business quickly and easily through a professional online company.
If you consider starting a business LLC with the MyCorporation Standard package for $124 + additional state fees, besides the services from the Basic package, you will get the following features:
- Prepare and file LLC annual report: after an LLC registration, every company must submit reports on time. If you choose this package, MyCorporation will file an annual report on your behalf at no charge for 1 year;
- Membership certificates: these are LLC customizable documents confirming your company’s membership status.
The Standard package is a good choice for companies that want to maintain their reputation.
With the Deluxe package for $224 + additional state fees, you will have all the services included in the MyCorporation Standard package, as well as services like:
- Registered agent service: every state-compliant American LLC is required to designate a registered agent. It acts as a mediator between the business and the state, receiving official correspondence addressed to the company. MyCorporation provides a registered agent service for free for the first year, and after, that it will cost you $120 per year.
With a registered agent service, the Deluxe package fully covers LLC formation needs in most states. This is a great option for companies focused on quick business growth.
The Premium package costs $324 + additional state fees and MyCorporation is ready to provide you with all the services included in the Deluxe package plus:
- One Year MaintainMyBiz Subscription: for one year, you can get four document filing services or other services from the list below at no extra charge:
- Initial Report;
- Annual Report;
- Corporate Seal;
- S-Corp Election;
- Stock Certificates;
- Corporate Minutes and Bylaws;
- LLC Operating Agreement;
- Membership Certificates;
- Fictitious Business Name (DBA);
- LLC foreign qualifications;
- Certified Copies of Documents;
- Certificate of Good Standing.
After the grace period, the service will cost $250 per year.
This corporate maintenance package for LLCs is the best choice for those who are interested in starting an LLC and getting down to business in an easy way. You will not have to spend money and time on preparing and submitting the paperwork necessary for the stable operation of the company.
Advantages & Disadvantages
Advantages of MyCorporation:
- Experience: MyCorporation has over 20 years of operation in the industry of creating an LLC in a highly competitive environment. It has served 1 million customers, which is clear evidence of the MyCorporation’s high level of experience, reliability, and professionalism;
- Great company’s customer feedback: this company has hundreds of online customer reviews, among which it is very difficult to find any criticism;
- Financial services: MyCorporation’s LLC formation service offers assistance with income tax and unemployment insurance for employees. There are few companies in the industry that offer similar options;
- Annual Report: MyCorporation online LLC service includes 1 year of annual report preparation and filing services in all its packages;
- Guarantees: in case of any misunderstandings, MyCorporation will do its best to resolve them. If you are not satisfied with the services, and you inform the company about it within 60 days, MyCorporation will provide a refund for the money spent;
- Coupon: usually, on the MyCorporation Yelp page, you can get 50% off its LLC opening service.
Disadvantages of MyCorporation:
- Cost: MyCorporation $99 Basic package is not the cheapest option available. There are several reliable and reputable online LLC services that can help you set up an LLC for less;
- High price for an EIN (Employee Identification Number) as an extra add-on: while a number of online companies provide an EIN for free, MyCorporation charges a $69 fee;
- No registered agent service in the Basic and Standard packages: some competitors offer more favorable terms, including a free year of registered agents in all their LLC formation packages.
Is MyCorporation Right For You?
MyCorporation is a reliable company that can help you start your business quickly and professionally. Its prices are not the lowest in the industry, but compared to hiring an attorney, they are quite affordable. Furthermore, MyCorporation has tremendous experience and an excellent reputation.
However, when choosing the best LLC service, you should keep in mind that every business has its own unique needs. That is why we have prepared a list of the reasons why you might want to hire MyCorporation or, instead, choose a different company.
When to Start an LLC with MyCorporation:
- You are interested in a free annual report service for 1 year;
- The high volume and positive nature of MyCorporation reviews are important to you, as well as the impressive average scores reported on third-party websites;
- You are satisfied with the price and timing of an LLC formation processes from MyCorporation;
- You want to cooperate with MyCorporation LLC formation provider because of the high quality of their customer support and the professionalism of the company’s representatives.
When NOT to Start an LLC with MyCorporation:
- You have a limited budget and plan on forming a new business with minimal expenses;
- You need a registered agent LLC, but you are not satisfied with the registered agent services with MyCorporation, which are only available with their high-level packages.