Is MyCorporation Legit?
The limited liability company is an increasingly popular business structure in America, with thousands of new LLCs being formed every day. The LLC is effectually a hybrid business type, occupying the space between the rigid formalities of a corporation, and the casual nature of a general partnership or sole proprietorship.
While you can create your own LLC, the process for doing so varies from state to state, so there’s no uniform process for forming one. This can make it complicated and time-consuming. Some entrepreneurs choose to hire a business attorney to form their limited liability companies, but this route can be expensive, costing hundreds or even thousands of dollars in attorney’s fees.
The other option is to hire an LLC service to form your company. There are many companies that offer limited liability company formation services online, and it’s sometimes difficult to determine which one has your best interests in mind. If you’re looking to form your own LLC, but you’re not quite sure where to turn, we hope that our comprehensive reviews can help you decide.
In this review, we’ll take a close look at MyCorporation, one of the top service providers in the industry. Are they the right service to form your new LLC?
About MyCorporation
Since they opened in 1998, MyCorporation has served over a million clients. They’re based in California, but they provide business services in all 50 states. They offer a wide variety of business services, and we appreciate their level of transparency. You can actually contact their CEO directly on Twitter @deborahsweeney if you have any questions or comments about their service.
On their website, MyCorporation outlines their mission statement as follows: “MyCorporation is a leading provider of online document filing services for clients who wish to form a corporation or limited liability company. For more than twenty years, MyCorporation has helped small business clients and real estate investors incorporate their businesses in a reliable and affordable manner.”
A fun fact about MyCorporation is that they offer a free no-risk small business startup consultation. If you have questions about the business formation process, they will discuss your options and help you make the right decision for your company.
30-Second Summary Of Our Review
MyCorporation has been around for over 20 years, and they’ve served more than a million business clients in those years. They receive solid customer reviews, and they also offer good support. The issues with MyCorporation start with their $34 shipping fee, which is not added into the advertised price of their packages. This is a rather lofty fee considering all it covers is mailing a few pieces of paper. In addition, they offer “rush processing” for $100 or more, but they don’t indicate how much this speeds up your turnaround time.
MyCorporation Strengths
- Good customer reviews – MyCorporation has several hundred reviews available online, and most of them are positive. They average 3.5 stars out of 5 with 200 reviews on TrustPilot, and they have a perfect 5-star average with 148 reviews on Google.
- Strong track record and experience level – They’ve been around for 20+ years, and they’ve helped form and/or maintain more than a million businesses in those years.
MyCorporation Weaknesses
- $34 shipping fee is outrageous – This additional fee is not included in their advertised price points, and it’s exceptionally high considering all they’re doing is mailing a few pieces of paper.
- Packages don’t have enough valuable features – Simply put, you can find more value for your dollar with other LLC formation services. For example, ZenBusiness charges $39 compared to MyCorporation’s baseline $133 price point, and ZenBusiness includes registered agent at that price point, which MyCorporation doesn’t.
- Vague turnaround times – It can be difficult to determine how long it will take them to complete your order. This is especially true if you’re trying to expedite your processing, because they charge $100 or more for “rush filing,” but they don’t indicate how much this actually speeds up your order.
Pricing & Additional Features
*Because of the $34 shipping fee that isn’t part of their advertised prices, we’ve added that cost into each package below, in order to make their LLC formation service easier to compare to their competitors.*
- Basic ($133) – This package includes only the necessary features to form an LLC, like a business name availability check, and the preparation and filing of your articles of organization.
- Standard ($158) – This package includes all features of the Basic package, then adds one year of managed annual report service.
- Deluxe ($258) – This package includes all features of the Standard package, then adds one year of registered agent service.
- Premium ($358) – This package includes all features of the Deluxe package, then adds one year of MaintainMyBiz service. This feature allows you to use MyCorporation for four document filings or business accessories within 12 months. You can choose from a certificate of good standing, reinstatement, dissolution, apostille, certified copies, foreign qualification, a doing business as (DBA) name, LLC operating agreement, membership certificates, amendment, S corp tax election, and a corporate seal.
MyCorporation vs Other LLC Services
All told, there are quite a few competing services that offer more value-per-dollar than MyCorporation does. MyCorporation charges a minimum of $133 for LLC formation service, and that package includes no advanced features. When competitors like ZenBusiness charge nearly $100 less while also including a year of registered agent service, we think it’s an easy decision to make. For more information, take a look at our Zen Business vs LegalZoom comparison guide between two of the top companies, or check out our list of the best LLC services available online.
Online Customer Reviews
MyCorporation doesn’t have a ton of online customer feedback, but what they do have is mostly positive. Their largest collections of reviews are on Google, where they have 148 reviews and a perfect 5-star rating, and on Trustpilot, where they have 200 reviews and a 3.5 out of 5 star score. Their customers typically discuss how pleased they are with MyCorporation’s customer service department, and they also appreciate how simple they make the formation process.
Customer Service Quality
With MyCorporation, you can access their customer support team via either phone or email. Either way, their support reps are quite responsive, as we’ve never had to wait on hold for long, and they also reply to emails quickly. Their representatives are highly trained, and they’re capable of answering difficult questions. We’re pleased with the quality of their support overall.
Main Reasons to Use MyCorporation
If you value positive reviews and a solid track record, you could do worse than MyCorporation.
Main Reasons Not to Use MyCorporation
There are many other services that offer lower price points and still bundle in more valuable features. MyCorporation is not even close to the top of our list for LLC formation service.
Our Recommendation – MyCorporation Scores 3.8/5
While MyCorporation does get good customer feedback, and we appreciate their support network, we’re not impressed by the pricing and features included with their formation packages, and their $34 shipping fee is excessive.
They are one of the few service providers that includes annual report service, but overall there are other options out there that provide more value-per-dollar than MyCorporation does – like Zen.