MyCompanyWorks Review of Business Formation Services – 2020
MyComanyWorks has been around for nearly two decades. Over the years, they’ve helped form 60,000+ businesses across a wide range of industries in all 50 states.
They provide business formation services for LLCs, C Corporations, and S Corporations. The platform’s simplicity, low cost, and ease of use are just a handful of reasons why it’s so popular.
Is MyCompanyWorks right for you?
This guide takes a deeper look at the business formation services offered by MyCompanyWorks. You’ll learn more about the benefits, pricing, plans, and insights from real customers. By the end of this article, you can make an informed decision to determine if MyCompanyWorks is right for your business formation needs.
Ready to get started? Sign up for MyCompanyWorks today!
MyCompanyWorks Business Formation Services
While MyCompanyWorks has a wide range of offerings, the business formation services are definitely the most popular. These services can be broken down into three main categories—LLC services, incorporation services, and registered agent services.
We’ll take a closer look at each one of these below.
MyCompanyWorks LLC Services
The limited liability company (LLC) services provided by MyCompanyWorks are definitely the most popular—and for good reason.
Even if it’s your first time starting a business, going through the formation process with MyCompanyWorks is about as easy as it gets. Just head to their website, choose LLC from the entity type dropdown menu and select your state.
The online form is super simple. MyCompanyWorks just asks for basic information like:
- Company name
- Purpose of your LLC
- Contact information
- Shipping address
- Name and address of registered agent
- Name and address of LLC members
That’s it! They’ll handle everything from here. MyCompanyWorks will complete your LLC formation documents and file them with your state. They’ll also provide you with post-formation paperwork like a personalized operating agreement and more. MyCompanyWorks even gives you a new LLC handbook and startup checklist with details for things like business licenses, sales tax permits, and hiring employees.
There are three different LLC formation packages for you to choose from:
- Basic — Starts at $79 + state fees
- Entrepreneur — Starts at $199 + state fees
- Complete — Starts at $279 + state fees
All plans come with the essentials, like unlimited name availability search, preparation and filing for articles of organization, personalized LLC operating agreement, same-day processing, unlimited phone and email support, free company alerts, and online document access.
Unlike other LLC formation services on the market today, MyCompanyWorks doesn’t charge you extra to expedite the filing process. All orders submitted by 3 pm EST are processed the same day. Orders submitted after that will be processed the next business day.
The entry-level Basic package does not come with the ability to obtain an EIN/tax ID. But you can add that to your plan for just $49.
Alternatively, you can upgrade to the next tier. In addition to the EIN, the Entrepreneur package comes with an LLC kit, LLC seal, and LLC member certificates. You’ll also get lifetime access to 200+ updated business forms for contracts, meetings, leases, DBAs, and more.
The top-tier Complete package comes with registered agent services as well. We’ll discuss this in greater detail later on.
MyCompanyWorks has 3,000+ verified customer reviews on its website. 99% of those customers gave a 4 or 5-star rating. Let’s take a closer look to see what those people have to say about their experience.
Most of the reviews echo these same remarks. Customers love the simplicity and low costs associated with the LLC services from MyCompanyWorks. Another recent review explains how the customer needed some documents delivered on an urgent basis, and MyCompanyWorks did what was necessary to provide the documentation on time.
If you’re using MyCompanyWorks to form your LLC, you’ll love the platforms Startup Wizard. This interactive online dashboard walks you through the step-by-step process of forming your company.
The Startup Wizard comes free with all LLC formation plans.
MyCompanyWorks Incorporation Services
You can also use MyCompanyWorks to incorporate a C-Corp or S-Corp.
While these services aren’t quite as popular as its LLC services, it’s still a viable option for any entrepreneur or business owner that needs to incorporate.
The incorporation services are actually fairly similar to the LLC formation services, with a few minor differences.
You’ll still get the free startup wizard, unlimited name availability search, same-day processing, online order tracking, online status updates, unlimited support, free company alerts, online document access, and lifetime “My Account” access.
Incorporation packages also come with personalized corporate bylaws, the new corporation handbook, and the option for a kit with corporate seals and corporate stock certificates.
The pricing is identical to the LLC services. You can choose between Basic ($79 + state fees), Entrepreneur ($199 + state fees), or Complete ($279 + state fees).
An EIN comes standard with the Entrepreneur package, and the Complete plan also provides registered agent services (more on this shortly).
What are customers saying about the incorporation services from MyCompanyWorks?
Instead of referring to the reviews directly from their website, I checked out some third-party review platforms. They have a 4.9/5-star rating Shopper Approved.
Similar to the LLC services, the reviews for MyCompanyWorks incorporation services are generally positive. Most point to how easy and informative the process was.
Seamless, reliable, and straightforward were some of the most common words tossed around in those reviews.
Some of the unfavorable reviews pointed to the price. A few people were annoyed about the up-sells. But not many complaints were tied directly to a poor experience with the service itself, which is good news.
If you’re forming a corporation and want to avoid the legal fees associated with hiring an attorney, MyCompanyWorks is a viable solution to consider.
MyCompanyWorks Registered Agent Services
Every business is required to have a registered agent. So if you’re using MyCompanyWorks to form your LLC or corporation, it makes sense to get the registered agent services from them as well.
With that said, these services are also popular for existing businesses that want to switch registered agents.
These services are available throughout the country, in all 50 states. So regardless of your state of formation or entity type, you can trust MyCompanyWorks as your registered agent.
You’ll benefit from services like:
- Service of process
- Annual report notices
- Tax notices
- Statutory compliance
- Mail acceptance
- Notifications when forms and documents are received
- Online access
- Extra level of privacy between you and your business
MyCompanyWorks charges $99 for its registered agent services. This is included in the Complete formation package (for $279 + state fees).
Another unique standout of the registered agent services from MyCompanyWorks is the way they make it easy for existing business owners to switch. Unlike other service providers on the market, MyCompanyWorks doesn’t impose a change of agent fee.
So what are customers saying about the registered agent services from MyCompanyWorks?
All of the reviews that I skimmed through were positive. Most mention the exceptional support and ease of use. As with most services, there are a handful of less than favorable remarks. A few customers weren’t happy with the fact that they had to pay extra for the registered agent services (they must be on the Basic or Entrepreneur plans).
While it’s true that some business formation services include a registered agent with all plans, it’s not really the industry standard. But I couldn’t find any complaints directly tied to the registered agent service itself.
Whether you’re starting a new business or need a change of agent, MyCompanyWorks should be a top choice for you to consider for registered agent services.
Overall Pricing and Value
We’ve mentioned the pricing for MyCompanyWorks a handful of times throughout this guide. But I want to take a moment to provide you with an in-depth look at the packages. Whether you’re using MyCompanyWorks to form an LLC, C-Corp, or S-Corp, these will be your options:
Basic — Starts at $79 + state fees
- Unlimited name availability search
- Articles of organization preparation and filing
- Personalized organizational minutes
- Personalized operating agreement
- Personalized corporate bylaws (for corporations)
- Online order tracking and status updates
- Same-day processing (on business days before 3 pm EST)
- Company alerts
- New LLC handbook
- New Corporation handbook
- Online document access
- Lifetime “My Account” access
- Free ebook for startups
Entrepreneur — Starts at $199 + state fees
- All Basic services
- Obtain federal tax ID (EIN)
- LLC kit, seal, and member certificates
- Corporate kit, corporate seal, and corporate stock certificates
- Lifetime of updated business forms from MyCompanyForms
Complete —Starts at $279 + state fees
- All Entrepreneur services
- Registered agent services
The state fees are automatically calculated when you select your entity type and state. Here’s an example of what you’ll see for LLCs in Colorado:
There’s another service called MyCompanyWorks Premium, for $99 per year. It’s not specific to any entity type. This is a managed service for annual reporting, a compliance dashboard, resolutions manager, unlimited custom alerts, business entity monitoring, and priority support.
MyCompanyWorks Premium is great for new businesses and existing businesses alike.
Registered agent services start at $99 per year.
In terms of value, MyCompanyWorks hits the mark in terms of available services. But you do need to pay extra for a handful of things. For example, other providers on the market offer registered agent services with all plans. Some even give you your first year for free. A registered agent from MyCompanyWorks only comes standard with the Complete package.
Additionally, MyCompanyWorks Premium is another extra that would be nice if it were included with at least one of the packages. But you need to add it on to every plan. With that said, it’s well worth the cost for the benefits.
The user experience with MyCompanyWorks can be summed up in a single word—seamless. From the second you land on the website you’ll find a clean interface as you’re choosing a plan and beginning the process.
It’s really easy to fill out the initial forms. You’ll also benefit from the platform’s Startup Wizard.
The Startup Wizard comes for free with every formation plan. It’s an advanced version of a web-based checklist. But it’s personalized based on your specific plan, business, and entity type.
For example, let’s say you’re filing an LLC in the state of Nevada. The checklist would be tailored with the exact steps required for this state, plus other helpful startup tasks.
It’s a visual representation of your progress tracking (0-100%) that’s updated in real-time as you complete steps. You’ll also get a weekly email reminder that includes an attached PDF with a detailed summary of the remaining steps.
For those of you who are using MyCompanyWorks to form multiple companies, the Startup Wizard is a simple way to stay organized as you progress through the steps with each business.
After you’ve finished forming your LLC or corporation, you can continue using MyCompanyWorks to access documents and manage your registered agent services.
Support is another crucial component of evaluating a business formation service.
Right away, I love the fact that MyCompanyWorks offers same-day processing. All orders submitted by 3 pm EST are processed the same day. If you submit an order after 3 pm, your information will be processed on the next business day. So many other formation services out there wait days or even weeks to start processing paperwork.
The customer service keeps people coming back. As you can see from this verified review below, some customers continue using MyCompanyWorks to form multiple companies because they were so happy with the excellent service.
For those of you who are looking for even better service, you’ll likely want to consider MyCompanyWorks Premium.
This add-on for $99 per year comes with a managed annual report service, a compliance dashboard, custom alerts, business entity monitoring, online certifications, and more. You’ll also benefit from priority phone and email support (average response time under 2 hours).
MyCompanyWorks also offers a 100% satisfaction guarantee. If you’re unhappy with any of the services, you may be entitled to a full refund if you submit a request within 90 days of signing up. The refund is good for all MyCompanyWorks fees (state fees are nonrefundable).
Do we recommend MyCompanyWorks? Absolutely.
They have an extensive list of service offerings in the business formation category. It’s a great option for LLCs, C-Corps, and S-Corps, alike. We also recommend the registered agent services.
Overall, the platform is simple and cost-effective. It’s a popular alternative to hiring an attorney to form your business.
Even business owners who have already incorporated switch to MyCompanyWorks for their registered agent. There’s no additional fee for changing agents.