You have a lot to consider when you start a business, including the name, the branding, and what you will offer customers. However, on top of that, you will need to think about the legal side of things, which can be complicated.
If you’re looking for someone to help you set up your legal business structure, this Incfile review is for you. Keep reading to learn about their services, prices, and how they can help your business.
Interested in Incfile?
Incfile is an LLC filing and business formation company that can help you make your business legal. They help make it easy for you to file for an LLC or set up another business structure. The company uses technology to help you form your next business.
You can use Incfile to launch your business, and all you have to pay for is state filing fees. They don’t have any contracts or surprises, so you can use more of your startup capital to get your business going.
Incfile is based in Houston, Texas, and has been in business since 2004. They started providing their services because they realized it was often hard to file the paperwork to start a business. Whether you’re looking to start your first business or your fifth, you can work with the Incfile team.
They also offer services for after you start your company. Incfile can help you with business accounting and compliance. They can also help you change your business name as well as dissolution.
Their website has resources you can use to find a business name, start your company, and calculate your taxes. You can use these tools to keep your business running after forming your company.
Structure Breakdown: Who is Incfile Good For?
When starting a business, you should consider how you want to structure it. Fortunately, Incfile can help you decide on the best structure for your company.
An LLC (limited liability company) offers flexibility for small businesses. The government can tax your LLC in a couple of different ways, depending on what you choose. You can enjoy the tax benefits of a sole proprietorship or partnership, or you can pay taxes like a corporation.
If you want to start an LLC, Incfile can help you do that. They will help form your LLC for free, but state fees may apply. Incfile can also assist you in finding an available name for your LLC, and they’ll file the forms for you. You can also name them as your registered agent for the first year for free.
They offer other more expensive packages for entrepreneurs looking for more assistance with starting their company.
Whether you want to start an S-Corp or a C-Corp, Incfile can help you manage the paperwork. You can use their service to find an available name and file with your state.
A C-Corp is the default choice for corporations because it doesn’t have a limit on company size. Alternatively, if you have a small business, you can work with Incfile to elect an S-Corp. An S-Corp can be a good option if you don’t anticipate growing your business that much.
The company helps file for both types of corporations, so you can choose which is better for you based on your company size. Then you can start running your company using the new structure. The more extensive packages offer things like corporate bylaws, an accessible company dashboard, and tax consultation.
While Incfile doesn’t help you form a partnership, it can help you afterwards. Their accounting and compliance services can help make sure your partnership is legal by assisting with accounting and taxes. Additionally, you can use their resources to learn more about running a business.
Incfile can also help you if you and your business partners later decide to form an LLC or corporation. The LLC can protect you and the other partners, so you can keep the business separate from your personal assets.
Similar to partnerships, you don’t need to do anything specific to start a sole proprietorship. However, if you want to protect your personal assets, forming a single-member LLC can help.
Incfile can help you choose a name and complete the paperwork. Then you can conduct business as normal while separating the business from your personal life.
Having a single-member LLC can be useful if you think someone may sue you. As an LLC, only your business assets will be at risk in a lawsuit. Then you won’t have to worry about someone trying to take your house or car.
If you have a non-profit, you can choose between an LLC or another corporation structure. Incfile can help you set all of this up, and they can help you get your organization going.
Incfile Packages & Pricing
Incfile provides many services to help both new and existing businesses. While they can help with the initial business formation, they can also help you manage the legal side of your company afterwards. The price will depend on both the package you choose and the state in which your business is located.
Some states charge more to file for an LLC, while others charge more for a C-Corp or S-Corp. Other services, such as accounting, will vary based on your needs. If you want to get an idea of the cost, consider all of these things and contact Incfile directly.
Here are the packages that Incfile offers as well as the services included in each package.
Silver Package - $0 (not including state fees)
Incfile charges $0 for the silver package, just keep in mind you will still have to pay a fee for state filing, this amount depends on the state you are filing from. The silver package includes the following:
- Assistance with preparing and filing the formation of the company
- 1 year of free registered agent services
- A statement of the organizer
Gold Package - $149 (not including state fees)
The gold package is the mid-tier package for business owners looking for a bit more assistance when starting their business. Incfile does charge a fee for the gold package but it is still a great option for business owners who want to keep their expenses low. And in our opinion, this service has a great value compared to other competitors. The gold package includes everything that the silver package includes as well as:
- Unlimited Name Searches
- EIN Tax Number
- IRS Form 2553
- Help with making an operation agreement
- Banking resolution
- Company Alerts
- Online Access Dashboard
- Unlimited Phone & Email Support
- Business Banking Account
- Business Tax Consultation
Platinum Package - $299 (not including state fees)
The platinum package is the most expensive of the options and is Incfile’s all-inclusive package. The package is quite expensive, so for entrepreneurs that are on a tighter budget, I would not recommend going with this option.
The platinum package includes everything that is included in the gold package and also includes:
- Business Contract Templates
- Expedited Filing
- Domain Name + Business Email
Overall Value vs. The Competition
Compared to other LLC services and entity formation services on the market, Incfile is incredibly affordable. If you need a cheap entity formation service, they are hard to beat. Just make sure you're okay with all the frequent upsell attempts.
Read some of our comparisons to see how Incfile stacks up.
- Incfile vs. LegalZoom
- Incfile vs. ZenBusiness
- Incfile vs. Inc Authority
- Incfile vs. CorpNet
- Incfile vs. Direct Incorporation
- Incfile vs. Harbor Compliance
- Incfile vs. IncNow
- Incfile vs. Incorporate.com
- Incfile vs. InCorp
- Incfile vs. MyCompanyWorks
- Incfile vs. Nationwide Incorporators
- Incfile vs. Rocket Lawyer
- Incfile vs. SunDoc Filings
Incfile Document Management & Online Experience
When choosing how to file for an LLC or corporation, you need to consider how you can access and manage your documents. Even if you have a service provider to help with the filing, you should still have access to everything.
Once you set up an account with Incfile, you can use their custom dashboard to access everything you need. The company will send you a notification when your documents are ready to view, so you can download them and store them with your other files.
You can use their dashboard to access their other products and services as well. If you need help with accounting or a Registered Agent, you can manage it all on the dashboard. The dashboard will also give you access to your business formation kit, business contracts, and other important documents.
Incfile Processing Time
After you use Incfile to form a corporation, they will process everything and send it to your state. The processing time will depend on the state. Unfortunately, it can take time for the states to process everything. Most states can complete the process in three or four weeks. But in Florida and West Virginia, the process can take as long as six weeks.
If you’re willing to pay extra, states such as Indiana and Minnesota can complete the process by the next business day. And in West Virginia, paying for expedited filing will bring the wait time down to four weeks. Prices vary from $50 to $152 for expedited services, depending on the state.
Incfile Compliance & Track Record
Incfile has been in business for many years and has had a good track record in the past. Many people have enjoyed the company’s services, and they have helped over 500,000 businesses.
However, as of September 2020, the Better Business Bureau (BBB) has revoked Incfile’s accreditation. The BBB did this because Incfile failed to maintain a positive track record in the marketplace. Their page on the BBB shows over 200 customer complaints.
Incfile also lost its accreditation for not responding quickly to BBB disputes. The company didn’t cooperate with the BBB to eliminate customer complaints. In addition, Incfile didn’t approach business dealings or marketplace transactions in good faith.
While there are many positive reviews of the company, the negatives are concerning. Before you use Incfile, consider the risks, such as not receiving your documents quickly or having trouble communicating with Incfile.
Incfile Customer Service
According to Shopper Approved, Incfile has an average of 4.8 out of 5 stars. Their ratings for customer service, product satisfaction, and price satisfaction are all 4.4 stars or above.
To help provide excellent service, the company doubled its customer service team. If you need help with anything, you won’t have to wait too long.
They also implemented a live chat feature that you can use to ask questions and get help with specific issues without having to call.
You can also use their guides on the site to get immediate answers to common problems. If your question is more general, you can save yourself time by using the guides and resources on the Incfile site.
Customers have praised the service and reliability that Incfile offers. They have said that Incfile makes it easy to set up your business.
The Last Word: Is Incfile Worth It?
Incfile is an excellent service to consider when starting your next business. They help business owners form LLCs, corporations, and nonprofits. You can use the service whether you work alone or have business partners. However, the company isn’t a great fit for people who want partnerships or sole proprietorships.
Some benefits of Incfile include the variety of services offered to help you even after you start your business. You can also set everything up online and only pay the fees your state charges to form a company.
Unfortunately, its unfavorable history with the BBB is something to consider. You never know when you may have a dispute that the company won’t resolve quickly. Keep that in mind before you choose Incfile.