One of the things that you have to consider when you start a company is the business formation process. It can feel like a sea of legal jargon and complexities designed to catch you out, which is why many business owners turn to incorporation services that offer a simplified process, handling all of the hard work for you. Today, Inc Authority and Swyft Filings will be compared so you can decide which offers the best service for your business needs.
Inc Authority vs. Swyft Filings: The Verdict
Swyft Filings is a relatively new company (started in 2012). However, their newness does mean that they're more experienced conducting business remotely and over the internet than some of their competitors that have had to adapt to digitization. Inc Authority was founded in 1989 and provides excellent LLC formation services in addition to business assistance, such as funding advice and business credit assistance.
Choose Swyft Filings if:
- You want to have a free domain name
- You want a lower-cost service (Except for LLC filing)
- You want a smoother online experience. You're starting a corporation
Choose Inc Authority if:
- You're starting an LLC
- You want financial services
- You want a longer-running company to assist you
Services Offered & Pricing
Overall they're both great options with some key differences. Both Swyft Filings and Inc Authority represent a lower price point in the formation service industry. Swyft Filings is overall cheaper than Inc Authority, except for Inc Authority's free LLC formation service. Inc Authority does offer a free registered agent service, which is something Swyft Filing lacks. Neither can provide support for partnerships, which is something to be aware of.
Key Similarities
- Both can help you start an LLC or corporation
- Neither is ideal for a partnership
- Both represent the more affordable end of incorporation services
Key Differences
- Swyft Filings doesn't offer a free registered agent service
- Inc Authority can't support nonprofits - Swyft Filings can
- Inc Authority is more expensive than Swyft Filings, apart from the free LLC service
Inc Authority Packages & Pricing
Free Package - $0 + state fees
Here are the benefits that come with Inc Authority's free tier.
- Business name availability search: Inc Authority searches to ensure your chosen business name is available for use in your state
- Articles of organization preparation and Filing: This step has the Inc Authority prepare your entity documents and paperwork and submit them to your state
- A registered agent for one year: Inc Authority will act as your company's registered agent for one year, notifying you of upcoming filings
- S corporation form: If you file as an S corporation, Inc Authority will file the appropriate paperwork
The free tier also offers third-party access to the following benefits:
- Business funding analysis: You can get preapproved for between $50,000 and $150,000 in minutes through a third party
- Tax planning: This includes a one-hour tax consultation with a tax expert, where you can discuss deadlines, deductions, and other questions
- Business checking account: Inc Authority partners with Bank of America to offer a free business checking account
Starter Package - $399 + state fees
Here's what you'll get with the company's Starter package. It includes everything from the free tier, plus:
- Operating agreement and bylaws: Each member receives fully drawn-up operating agreements and bylaws or their company
- Record book and company seal: This is a collection of the company's most important documents, along with a corporate seal
- Initial meeting minutes: Meeting minute forms for conducting business meetings
- Ownership certificates: All owners are given a copy of the official paperwork for their business
- Tax ID Number (EIN): Inc Authority charges $49 for an EIN, but you can get one free through the IRS
- Evaluation for business credit and funding: Inc Authority will help you find the best sources for startup capital
- Success advisor: Inc Authority will give you access to one of its success advisors for one year
Executive Package - $499 + state fees
Inc Authority's Executive tier continues to build on the previous tiers, including:
- Business license report: This benefit gives you access to Inc Authority's license search software, which tells you exactly which documentation you'll need for your business
- Website domain: Inc Authority will help you secure a domain for your company website
Tycoon Package - $799 + state fees
Finally, Inc Authority's highest tier is the Tycoon package, which is primarily focused on helping to build business credit. It includes:
- Express processing lets you and your company jump to the front of the paperwork processing line
- BizCredit Express: You have multiple ways to help your business build credit
- Credit coach for businesses: This feature gives you access to a credit coach for 90 days
- Business Credit LaunchPad: Inc Authority's credit-building software guides new businesses
- Registration with D&B Credit Bureau: Dun & Bradstreet, a top credit bureau, will give you an initial credit report
Swyft Filings Packages & Pricing
Basic Package - $49 + state fees
The Basic package, which costs $49 plus state fees, includes several services that are the most vital to incorporate. You'll start a business but still need to perform several functions yourself that Swyft Filings could perform.
- Paperwork Preparation: The Articles of incorporation and statement of the incorporator are prepared and submitted to the Secretary of State for you
- Cloud Storage: Online access to a dashboard that holds all your documents
- Free Tax Consultation: You'll be given access to a free 30-minute tax consultation
- Domain Name: For the first year, Swyft Filings will provide the domain name and free business website for the client's company completely free of charge. After the first year, you will have to pay for your domain, with a low price of $15-20 annually
Standard Package - $149 + state fees
Swyft Filings' Standard package, priced at $149 plus state fees, includes all the services in the Basic package plus the preparation of a few other essential documents. Strictly which additional documents the Standard package includes depends on the type of business you're registering.
- EIN Number: An EIN essentially serves the same purpose as a social security number. It's a nine-digit code that the organization uses to hire employees, pay business taxes, and open business bank accounts
- LLC Operating Agreement: The LLC operating agreement is a document that contains the entire outline of the complete ownership structure of the company. Some specific rules and regulations need to be a part of the document. It's a very long and important document, and clients can rest knowing that Swyft Filings will draft the document precisely
- Banking Resolution: Another essential document contains a list of all the people that have the authorization to open a bank account for the LLC
- Organizational Meeting Document: Swyft Filings aren't just focused on the documentation. They also provide tools that help manage the organization better. The standard package comes with a form that details the articles of the organization
The bundle of these extra features would cost $160 if added to the Basic package, considerably more than the additional $100 upgrade from Basic to Standard costs.
Premium Package - $299 + state fees
Swyft Filings' highest-priced package, Premium, costs $299 plus state fees. It adds three additional services to those included in the Standard offer, plus they expedite the filing time for free.
Customized Digital Kit: The digital corporate kit is best for modern organizations; it features a digital seal representing the clients' organization and customizable compliance tools such as customized stock certificates and an ownership ledger
Free website: You can create a website and host it for free, enabling the electronic delivery of documents that Swyft Filings receives from state governments
Document Management & Online Experience
Swyft Filings established itself as a standalone online service; efficiency is one of its most vital points. You can complete the entire setup for your corporation online in around 10 minutes. There is also a full tracking service online that lets you see step-by-step how the process goes, from beginning to end.
Inc Authority has an easy-to-use online portal with lots of software and tools at your disposal. Both companies offer quality cloud storage options that will let you access and download your business documents. Inc Authority doesn't provide much of a knowledge base, whereas Swyft offers a comprehensive online learning center and free e-book "the ultimate guide to starting your business."
Key Similarities
- Both companies provide quality cloud storage
- An easy to navigate, secure site with no unnecessary upselling
Key Differences
- Swyft Filings tracking service and fast application process isn't something Inc Authority's much simpler site can match just yet
- Swyft can offer you more of a coherent knowledge base
Processing Time
Turnaround times are heavily influenced by the state you incorporate, but both companies can offer you expedited filing. Inc Authority charges $49 for expedited filing.
In Delaware, for example, the Standard Document Filing option takes between 10 and 15 business days, while the Express option takes three business days. The Rush option results in incorporation documents that are delivered that same day. The ExExpress'sdditional cost is $100, and itit's150 for Rush service. In New York, by contrast, there's no option, but the express filing is available within one business day and only costs $75 extra.
Key Similarities
- Expedited filing is an option
Key Differences
- Inc Authority has more transparent/simplified pricing
- Swyft Filings expedited processing times can be faster
Compliance & Track Record
Inc Authority has pretty good reviews online, with 4.8 out of 5 stars on Trustpilot (and 5,000 reviews). They have a longstanding reputation compared to Swyft, but Swyft Filings has a decent reputation with over 2,000 customer reviews and an average rating of 4.5 stars.
Key Similarities
- Similar compliance records with no significant issues
- Similar customer feedback ratings
Key Differences
- Swyft Filings has been around for a much shorter period than Inc Authority
Customer Service
Swyft provides lifetime customer support to anyone using their service. They provide a phone support line in addition to virtual support. Their website features an extensive learning Center with information about various topics.
Inc Authority offers a more limited range of support, but it's sufficient. Customer service is available via phone, email, and a chat window right on the homepage. These customer support services are open to all clients, no matter their service tier. The Inc Authority service representatives are also knowledgeable and can assist with a range of issues or questions. Swyft Filings offers a 100% money-back guarantee (less the state filing fee) if you're not satisfied, which shows their dedication to customer happiness.
Structure Breakdown
Both Inc Authority and Swyft Filings are excellent service providers, but different business entities benefit from additional business formation services. Let's break down the other structures available to see which is best for your business.
It's a good idea to consider Inc Authority if you're forming an LLC; they are one of the best LLC services on the market, offering free LLC formation. Their primary offering is LLC services, with 96% of their customers starting LLCs. They also provide additional assistance such as tax, credit, and accounting services. While Swyft also offers an excellent LLC formation package at a low cost, nothing beats free formation.
Swyft Filings offers excellent benefits for corporations and has lower-priced packages than Inc Authority. Swyft Filings can help you start an S-corp or C-corp, which are two different structures with their pros and cons. Inc Authority can help you create a corporation too; however, it is more expensive, and they have much less experience with this formation type.
Neither Swyft Filings nor Inc Authority offers support for partnerships.
Inc Authority doesn't offer dedicated support to nonprofits, though some report success in starting a nonprofit with their help after purchasing a corporate package. Swyft Filings, on the other hand, has an excellent track record for helping nonprofits and can offer dedicated support to get your tax-exempt organization status, making them the better choice overall.
The Last Word
These are two great formation companies that can help you with business formation and other add-on services, too. Entrepreneurs and small businesses starting a limited liability company will want to consider Inc Authority'siling service. However, nonprofits seeking tax-exempt status will want to consider Swyft Filings. Both offer a user-friendly website and knowledgeable customer support teams. Overall, both can assist with your business documents, such as getting an employer identification number. Only Swyft Filings has a comprehensive refund policy that guarantees 100% of your money back if you're not happy (minus state filing fees). Either would make a solid choice for your business.
Filed under: Head-to-Head
