Getting a new business off the ground can be a daunting task. One of the most important things you can do upfront is to ensure that all your paperwork and required business filings are completed accurately with your state. Fortunately, there are various services that can help with business formation services.
Incfile and BizFilings are two very popular options. These companies are basically middlemen between you and your state’s Secretary of State department, which is generally the department which handles incorporation and LLC formation. In this article, you can learn all about the features, pricing, and services of these two options, to see which makes most sense for you.
Both of these companies offer LLC formation services and incorporation services. This means that they can help you register a new LLC, corporation, or even nonprofit, with your state. While the basics are similar, there are some differentiators to consider between BizFilings vs Incfile.
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Incfile is a popular business formation service that was founded in 2004. Since then, they have assisted with the formation of more than 250,000 new business entities, in all US states. With the service, you can start a new:
Incfile’s focus is on the initial business registration process. In fact, their tagline is “Where Business Begins”. They offer a relatively simple selection of services, designed to help entrepreneurs and nonprofit founders get off on the right foot. They do offer some ongoing services, as well, such as Registered Agent.
One of Incfile’s most striking features is their “free” plan, dubbed the Silver Package. This plan costs $0 + state fees, making it the cheapest way to start a new LLC or corporation online. The state fees go directly to the state, so you truly aren’t paying anything extra with this plan. The reason Incfile is able to offer this plan is because they have partner services, including web hosting providers and business banking providers, that they partner with to recommend services to clients.See the full review of Incfile here.
BizFilings was founded in 1996, and is a division of Wolters Kluwer, a Dutch-American conglomerate. They have served hundreds of thousands of business owners, helping them navigate the complex world of incorporation and LLC formation. With BizFilings, you can form the following business types:
BizFilings also focuses on initial business formation - but they also offer a somewhat wider array of ongoing services. They can serve as your Registered Agent, help you file annual reports, help you search trademark and patent libraries, and more.
One unique aspect of BizFilings is their BizComply feature, which is included with Registered Agent service in all plans. This service provides company alerts for upcoming filing requirements, helping to keep your business in good standing with state and federal agencies.
See the full review of BizFilings here.
The packages offered by these two services are relatively similar, as each offers three tiers of service. The main differences between these formation packages are in processing speed/turnaround times, and included features. Here’s a breakdown.
As you can see, Incfile is cheaper than BizFilings across the board. This is largely because Incfile relies on revenue from their partners. They have more upsells and add-ons available, such as business bank accounts, business website hosting, etc. If you don’t mind these offers (you don’t have to take any of them), then Incfile is a good option. If you’d avoid partner offers and data sharing, BizFilings may be a better option, despite the higher price point.
Overall, pricing on these two services is in-line with industry averages. You’ll find similar, tiered offerings at competitors like LegalZoom, Northwest, ZenBusiness, MyCorporation, etc.
In their basic functionality, BizFilings and Incfile are fairly similar. They support the same business structures (LLC, C-corporation, S-corporation, partnership, and nonprofit), and they provide similar services in their business formation plans. The available features in each plan do vary, though, so you’ll want to compare package options side-by-side. Both also offer similar ease of use, making it relatively simple to register your new company online.
When it comes to ongoing services, BizFilings offers a bit more variety. Their BizComply feature is a good example. This service (included with Registered Agent) helps keep you on top of compliance requirements, by reminding you of upcoming due dates for reports, tax returns and more.
BizFilings also offers more guidance on which company structure is right for you. They have an automated Wizard that helps you choose between LLC, corporation, etc., based on your individual situation.
Both of these companies offer dedicated support for life, whether you keep ongoing services active or not.
If you look at custom feedback, you’ll notice that many people have had some issues with Incfile’s customer support. The service is rated mediocre at best, in average review scores. BizFilings is a bit harder to judge. Although the company has been active for decades, they do not host customer reviews on their website, and they do not have active review profiles on common sites like Better Business Bureau (BBB) and TrustPilot.
Taking into account all we’ve learned about these two services, what’s the bottom line? Which is the best option for you?