Forming a new business entity with your state can feel like a complex task - but it doesn’t have to be. There are companies that can help business owners navigate the process, helping ensure accuracy and reduce hassle. While there are many companies offering these services, two of the most popular options are Incfile and MyCorporation.
In this article, we will compare MyCorporation and Incfile in detail, covering everything from pricing to features and customer support.
Incfile vs MyCorporation: Quick look
Both of these companies are business formation services, meaning they help entrepreneurs register new business entities with state agencies. Here’s a quick overview of some of the key similarities - and differences - between MyCorporation and Incfile.
Similarities between Incfile and MyCorporation
- Both make the process of forming a new business much easier
- Both can help you form a company in all US states
- Both can help you draft all the needed business formation documents
- Both can help you form LLCs, corporations, and nonprofit entities
- Both can serve as your Registered Agent
- Both provide help with ongoing filing needs, such as Annual Reports
- Both have a name availability search to help you choose a business name
- Both can help you obtain Doing Business As (DBA) names, employer identification numbers (EIN) tax ID, and more
- Both have a variety of packages to choose from, for any budget
Differences between Incfile and MyCorporation
- MyCorporation has a wider range of business legal services, such as copyright protections
- Incfile focuses primarily on business formation; MyCorporation has a much wider range of ongoing services
- Incfile’s plans start at $0 + state fees; MyCorporation starts at $99 + state fees
- Incfile offers partnership formations; MyCorporation does not
- MyCorporation supports “Benefit Corporations”, or B-corps; Incfile does not
Incfile basics
Incfile is the place “Where Business Begins”, according to their famous tagline. The service has been in business since 2004, and has helped form over 250,000 new companies in that time. With Incfile, you can start a new:
- Limited Liability Company (LLC)
- Corporation (C-corp by default; S-corp election available)
- Partnership (LLP or LP)
- Nonprofit corporation
Incfile helps entrepreneurs meet the filing requirements for starting a new business, in all US states. They focus on the basics of business formation, offering a streamlined suite of services.
Incfile is perhaps best known for their “free” $0 Silver package. This package can help you form a new business for free - you just pay the required state filing fees (which go directly to your state). Incfile is able to offer this special deal because of financial relationships they have with partners, such as business banking providers. Incfile will recommend various products and services to you, such as web hosting, a business bank account, etc.
See the full review of Incfile here.
MyCorporation basics
MyCorporation was founded in 1997, and has since helped form over 1 million new business entities. They also offer a wide range of ongoing services, and aim to be a “one-stop-shop” for business legal, regulatory and filing requirements. With MyCorporation, you can form:
- Limited Liability Company (LLC)
- Corporation (C-corp, S-corp, B-corp)
- Nonprofit corporation
MyCorporation makes it easy to form a new business in all US states. Beyond that, they offer a wide range of ongoing services to help your business grow.
For example, MyCorporation offers intellectual property protection services, like copyrights and trademark registration. They offer individual add-ons and additional services, priced separately, or, you can opt for the MaintainMyBiz package. This is a yearly subscription that helps with a wide variety of ongoing business filing requirements, for years to come.
See the full review of MyCorporation here.
Incfile vs MyCorporation: Pricing
Comparing pricing between MyCorporation and Incfile requires a close look. On the base package, Incfile is clearly a better value - but when it comes to the more full-featured plans, both services offer similar value.
Incfile pricing
- Silver Package - $0 + state fees - The Silver Package includes the basics of business formation, with “standard” filing speed (turnaround time depends on the state). It comes with a few bonuses, like a business bank account, and one year of free Registered Agent services (this renews for $119 per year, unless cancelled).
- Gold Package - $149 + state fees - The Gold Package includes everything in the Silver plan, and adds an Employer Identification Number (EIN), express shipping, and additional formation documents like a banking resolution and operating agreement.
- Platinum Package - $299 + state fees - The Platinum Package includes everything in the previous plans, plus additional business templates, a business domain name and email, and more. This plan has both expedited filing of documents, and expedited shipping.
MyCorporation pricing
- Basic Package - $99 + state fees - The Basic Package includes all the basics of business formation, including articles of incorporation, with standard filing speed.
- Standard Package - $124 + state fees - The Standard Package covers everything in the Basic package, plus bylaws, corporate minutes, waivers, and more. It also adds an Annual Report service.
- Deluxe Package - $224 + state fees - The Deluxe Package covers everything in the previous plans, and adds Registered Agent services (renews at $120/year).
- Premium Package - $324 + state fees
The Premium Package covers everything in the previous plans, and adds ongoing compliance services with the MaintainMyBiz Package (see below).
Other services from MyCorporation
- MaintainMyBiz Package - $250/year - This optional add-on is an ongoing subscription service to help keep your business in good standing. It includes 4 filings every 12 months (choice of annual report, stock certificates, EIN, DBA, etc.
- MyIncGuard Package - $79/year - This optional add-on is an ongoing subscription service that helps remind you of reporting requirements for local, state, and federal agencies.
Overall, pricing for both companies is competitive. Similar services, like LegalZoom, ZenBusiness, and other incorporation services have similar pricing. Incfile is cheapest overall, but MyCorporation often offers more value.
Incfile vs MyCorporation: Features
Overall, the business formation features between these two companies are similar when compared side-by-side. Each helps you with Articles of Organization/Incorporation, initial reports, and all other basics required to form a new business. Each also is compatible with local rules everywhere in the United States. And each offers good ease of use and a relatively simple online platform.
One small difference is that Incfile supports partnership formations, while MyCorporation does not. Likewise, MyCorporation supports B-corp formation, while Incfile does not.
Both firms also help with popular extras, like obtaining DBA names, employer identification numbers, and election taxation status (i.e. S-corporation election). Both can be your Registered Agent provider, as well.
As for processing time, like most other service providers, these companies offer a few different tiers of service. Depending on the package you choose, you can get standard turnaround time, all the way up to next business day processing. Of course, the total time it takes to get registered will also depend on the state you’re filing in.
The big difference overall is in ongoing features and specialty services. In this category, MyCorporation offers far more. MyCorporation has copyright and trademark services, online secure document storage, ongoing compliance reminders, and more.
MyCorporation’s MaintainMyBiz package, at $250 a year, is an attractive option for entrepreneurs who know they will need ongoing help and company alerts. This customizable package lets you choose what you need help with; drafting bylaws, obtaining a Certificate of Good Standing, issuing corporate stock or membership, annual report filing service, and more.
In short: Incfile is a great place to start a business. The more full-featured MyCorporation is a great place to start and grow a business.
MyCorporation vs Incfile: Customer service
Both of these companies offer unlimited customer support, even if you do not choose an ongoing service from them.
- MyCorporation customer support is available via phone or email. Representatives are available Monday through Friday 7:30am to 4:30pm PT
- Incfile customer support is available via phone and email support. Representatives are available Monday through Friday from 9am to 6pm CST.
Of the two, MyCorporation takes a more personalized approach. If you read customer feedback, you’ll notice that many MyCorporation customers note having positive experiences with specific representatives of MyCorporation. Overall, there are more positive reviews for MyCorporation than for Incfile.
Incfile takes a more traditional approach: Support is there if you need it, but it’s less personalized. Incfile has mediocre customer reviews on Trustpilot and the Better Business Bureau (BBB).
Which should you choose?
We’ve compared all the details, but what’s the bottom-line? Which is the best LLC formation service for your small business or startup?
Choose Incfile if…
- You want low-cost formation packages, and don’t mind sacrificing a few features. Incfile’s $0 plan is tough to beat, although its features are limited.
- You want to form a partnership. Incfile has LLPs and LPs; MyCorporation does not at this time.
- You won’t keep Registered Agent services long-term. Incfile includes a full year of service for free in all plans; after the first year, you can cancel it to save money (if you will be your own Registered Agent).
Choose MyCorporation if…
- You want ongoing compliance services. MyCorporation offers far more options when it comes to ongoing business filings and other services.
- You want intellectual property protections, such as copyrights or trademarks. Incfile does not offer these services.
- You value companies with good reputations. MyCorporation’s customer feedback is substantially better than Incfile’s.
