MyCorporation Review – 2021

MyCorporation.com is an online provider of business registration, tax, and legal services. They can help you form a new company, register a trademark, obtain tax IDs, and much, much more. MyCorporation aims to simplify the complex world of business formation, helping you handle all the necessary paperwork, so that you can focus on growing your business! The MyCorporation review below will go over everything you need to know about this popular service. 

MyCorporation overview

MyCorporation is an online service provider for small businesses. It aims to offer a complete suite of business registration, tax, legal and copyright services. Everything is handled online, through the MyCorporation platform. 

The focus of MyCorporation is on helping you to form new business entities in your state. Through MyCorporation, you can easily form the following business structures:

  • Corporation (C-corp, S-corp, B-corp, etc)
  • LLC (LLC and Professional LLC)
  • Non-profit

MyCorporation is compatible with regulations in all US states. They have a transparent and competitive pricing structure, helping you start a new company in an affordable and efficient manner. 

Plus, MyCorporation also helps with:

  • Filing for trademarks and copyrights
  • Obtaining Employer Identification Numbers and other federal and state tax IDs
  • Obtaining various business licenses and permits
  • Changing, transferring, or closing a business
  • Much more

Check out our roundup of the Best Online Incorporation Services

MyCorporation pros & cons

Like any similar service, there are both advantages and disadvantages to consider when it comes to MyCorporation: 

Pros

  • Choice of corporation, LLC and non-profit
  • Help with taxation elections (i.e. S-corp status or 501(c)(3) tax-exempt status)
  • Help filing for trademarks and copyrights, plus other intellectual property protections
  • Ongoing support to keep your business compliant
  • Ongoing support for business changes; transfers, conversions, closures, etc.
  • Huge online learning library full of useful tips
  • Ongoing corporation maintenance (bylaws, annual meetings, annual report, etc.)
  • Ongoing LLC maintenance (operating agreement, annual report, membership certificates, etc.)
  • Huge range of additional business services
  • Ongoing customer support from professional and friendly representatives 

Cons

  • State registration fees charged separately 

MyCorporation features & services

MyCorporation is a helpful partner to have for just about every aspect of your business, from start up to corporate exit. While their focus is on the initial business formation periods, MyCorporation has a wide variety of ongoing features that can be useful for the life of your business. We can essentially break up the services of MyCorporation into two categories: Business Formation, and Business Management. 

Business formation features

MyCorporation can help you form a new business entity in any state in the US. Here are some key services and features for new businesses:

  • Form new limited liability companies (LLCs), corporations, and nonprofit entities
  • Choose from C-corp, B-corp, S-corp, etc.
  • Compatible with regulations in all of the United States
  • Complete the registration process online, quickly and easily
  • Get Articles of Incorporation and other key documents
  • Business name availability search to find the perfect name for your company
  • Help obtaining tax ID numbers (EIN), Doing Business As (DBA) names, and more
  • Help obtaining business license and permits
  • Much more

MyCorporation helps with every step of the business formation process, from selecting a name to filing all the required paperwork. Their system is designed to be compatible with each state, and they make it simple to complete the process online (even in states with complex business registration systems). 

Business growth & management features

Once your company is formed, MyCorporation remains useful for years to come. They offer a wide variety of optional ongoing services to help you run and grow your business while keeping it compliant with all regulations.

  • Help filing for trademarks and copyrights
  • Help issuing or updating stock/membership
  • Help drafting and updating an operating agreement
  • Help electing at tax treatment (i.e. S-corp status)
  • Help filing state and federal tax forms for income tax and more
  • Document filing service and document storage
  • Corporate minutes, bylaws, etc. 
  • MyIncGuard package (optional add-on) sends reminders when it’s time to file or report to state agencies
  • MaintainMyBiz package (optional add-on) keeps you compliant by helping file annual reports, bylaws, and much more
  • Registered Agent, Annual Report and other services available 

MyCorporation helps with reporting requirements for the life of your business. Plus, they also make it easy to make changes, such as transitioning from an LLC to a corporation, changing ownership structures, or even selling your business. 

MyCorporation pricing

MyCorporation offers a number of different packages, as well as ongoing subscription services and ala carte pricing, to suit the needs of a wide variety of businesses. Overall, their pricing is competitive with industry standards – just keep in mind that state fees are not included. The table below details pricing on business formation packages, their primary offering. 

MyCorporation Business Formation Packages

Basics Standard Deluxe Premium
Price $99* $124* $224* $324*
Features  
  • Basic business formation services
  • Articles of Incorporation
  • Name Availability Search
  • All features of Basic plan
  • Annual report service
  • Bylaws, minutes and waivers
  • All features of Standard plan
  • Registered Agent service (ongoing)
  • All features of Deluxe plan
  • MaintainMyBiz services (see below)
Best For The Basic package is best for those who want to form a new business in a cost-effective manner, and who don’t need any ongoing services. The Standard package is best for those who want help with filing their Annual Report (required in most states), but don’t need a Registered Agent. The Deluxe package is best for those who require ongoing services, like a Registered Agent and Annual Report filing. The Premium package is best for those who want a great value on ongoing business services, to keep your business compliant for years to come.

*State filing fees charged separately. A variety of add-ons are also available for an additional cost, such as Rush Filing for $100 extra. 

Keep in mind that MyCorporation package pricing does not include state registration fees. These fees are charged separately, and the funds go directly to the state that you’re registering the business in. State fees vary by state and by business structure. For instance, starting an LLC costs $165 in Florida, $334 in Texas, and $85 in California (these fees are subject to change). Fortunately, you’ll see a preview of all associated fees during the checkout process with MyCorporation. 

MyCorporation also offers a variety of ongoing services, each priced separately. Alternatively, you can opt for the MaintainMyBiz package, detailed below. 

MyCorporation MaintainMyBiz Package – $250/year

MyCorporation also offers an ongoing subscription called MaintainMyBiz, which is priced at $250 per year. This is an optional service, however, it’s well worth considering as it can help save you time and money in the long run. Here’s what MaintainMyBiz offers:

  • Everything you need to keep your business compliant
  • Your choice of 4 filings every 12 months
  • Option to file initial report, annual report, corporate seal, S-corp election, amendment, stock certificates, membership certificates and more
  • Option to receive copies for corporate bylaws and minutes, LLC operating agreement, doing business as (DBA) name, foreign qualification, certified copies of documents, Certificate of Good Standing, and more
  • Option to alter business structure, with steps like dissolution, reinstatement, and more

Basically, MaintainMyBiz gives you ongoing business compliance services at a flat, predictable price. You can choose which steps, if any, you’d like to take each year, and 4 filings are included in your subscription cost (additional services beyond the 4 filings can be added on for an extra fee). 

MyIncGuard Package – $79/year

Another optional add-on package, MyIncGuard, helps keep your business compliant by issuing scheduled reminders when it’s time to file or update a government form. This service keeps you in good standing with your state agencies by ensuring you never miss a filing or reporting deadline. 

Customer service

MyCorporation has excellent customer support, from friendly and professional representatives. Customer feedback from business owners has been overwhelmingly positive, and many customer reviews mentioned positive experiences with MyCorporation’s customer support. Plus, the service has earned great ratings on Trustpilot and the Better Business Bureau (BBB).

In many cases, new customers of MyCorporation will be assigned a specific representative to help guide them through the process. When navigating the complex world of forming a new company, it’s very helpful to have someone trustworthy and knowledgeable to help you step-by-step, and MyCorporation offers just that! 

MyCorporation also has an extensive FAQ and online learning library, which is helpful to browse if you have questions. 

MyCorporation review: Our verdict

Overall, MyCorporation is an excellent partner to choose for business formation, compliance, intellectual property protections, and much more. Compared to competing incorporation services like ZenBusiness, IncFile, LegalZoom, etc., they offer competitive pricing and a broader selection of business services. 

The company has been in business for decades, and has served over a million businesses. MyCorporation has excellent ratings, both from customers and industry experts, so you can trust that it’s a reputable company. 

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