Starting a business comes with a surprising amount of paperwork, but for a fee, a professional business formation service can take over and let you sit back and relax. Business owners are increasingly turning to these service providers. Two noteworthy providers are MyCorporation and InCorp.
MyCorporation vs InCorp: The Verdict
MyCorporation is known for offering excellent customer support. However, their shipping and expedited fees aren't always transparent, and some customers appear frustrated. One of MyCorporation's most significant selling points is its reach; very few companies can say they've formed more than a million business entities.
MyCorporation should be regarded for its long-running reputation and vast reach. InCorp provides excellent basic LLC formation services and good registered agent services starting at $99. They also offer pretty unique volume discounts. However, these discounts come at a price as some customer feedback shows that customers have difficulties canceling their services. Each service provider is similar, but InCorp should be considered first for their LLC formation and registered agent combination.
Choose InCorp if:
- You want to save money with a volume discount
- You're setting up a partnership
- You want bilingual customer support
Choose MyCorporation if:
- You want more flexible contracts
- You're setting up a non-profit or corporation
- You want a provider with a more substantial reputation
Services Offered & Pricing
Many of the services offered overlap, but there are significant differences too. Trusted incorporation services are an obvious similarity, but InCorp goes further in some ways with bilingual support reps (Spanish and English) for those who need them. MyCorporation offers excellent service, too, with over 1+ million business entities formed. They also provide more packages, with a 4 tier package system. InCorp only offers one package, but they also provide intellectual property assistance on an a la carte basis.
Key Similarities
- Pricing is similar
- Excellent service and customer service reputation
Key Differences
- InCorp provides volume discounts
- InCorp only has one dedicated package
- MyCorporation has over 1 million previous customers
InCorp Packages & Pricing
Unlike MyCorporation, InCorp only has one package and their registered agent service. Let's take an in-depth look at InCorp's packages and their additional services.
LLC formation - $99
InCorp provides just one LLC formation package. Included are the essential elements of launching a company:
- Business name availability check
- The preparation and filing of the articles of organization.
InCorp has a unique EntityWatch feature that provides real-time info regarding your business entity's status, helping you prevent corporate identity theft. You also have access to a convenient compliance calendar to remind you of annual reports and other upcoming issues. You will also need to pay any state fees in addition to this.
Registered agent service - $99 per year
If you pay annually, you'll pay $99 for InCorp's registered agent service. However, if you pay in advance, you can receive a discount. Pricing is as follows:
- Two years of service: $89.10/year
- Three years of service: $80.52/year
- Five years of service: $66.59/year
However, you should know that you may have to pay fees to break the contract if you purchase this discounted bundle.
Additional Services
Business owners can purchase a la carte services from InCorp, ranging from $35 to $150. Their cheapest service is filing a Certificate of Good Standing at $35, though preparing and filing a foreign qualification will set you back $150. You can also add on additional services such as intellectual property assistance (including trademark services and copyrighting). Sometimes, shipping fees are also added, so you should be mindful of that.
MyCorporation Packages & Pricing
A huge selling point of MyCorporation is its pricing accessibility. They have a great 4-tier system.
Basic Package - $99
Beginning at $99 plus filing fees, it includes everything you'll need for an LLC or corporation and includes:
- Operating agreements
- Articles of Incorporation and business documents
- Business name check
- Unlimited customer service
You'll also get unlimited access to MyCorp Vault, an online document storage service. It'll allow MyCorporation customers to consolidate everything in one space.
Standard Package - $129
For just $129, you can access the annual reporting service. You can save yourself a lot of time each year by having them report your financial information for you.
Deluxe Package - $229
Starting at $229, the Deluxe package has some additional benefits, such as a registered agent service. The Deluxe package starts at $229, and, in addition to the benefits above, it provides business owners with a Registered Agent (RA). Having a registered agent is the best practice if you use a business formation service.
Premium Package - $324
The Premium package lets business owners gain access to MaintainMyBiz; with this, you can access 1-1 communication with employees designed to supervise and assist your business to help it grow.
Document Management & Online Experience
MyCorporation offers an intuitive and advanced online experience that can walk you through your choice of business entity with an excellent Q&A function. InCorp goes the extra mile in its online service by offering an entity management app that allows you to manage everything on the go. However, the website itself is clunky to use and tries to do too much at times.
Key Similarities
- You can do everything you need online
Key Differences
- MyCorporation offers you a Q&A walkthrough to help you choose which startup you'd like
- InCorp has an app
- MyCorporation has a smoother website
Processing Time
MyCorporation doesn't specify precise turnaround times. However, they are considered one of the fastest in the industry, with many customer reviews praising their ultrafast business filing services. They do offer expedited filing for a fee. InCorp is also not very transparent in this area; expedited filing seems to cost more than $100 and doesn't offer an explicit guarantee for how quickly you'll receive your order.
Key Similarities
- Unclear pricing for expedited services
Key Differences
- MyCorporation seems to be faster in this area
Compliance & Track Record
Since its opening in 1998, MyCorporation has served over 1 million clients. Their business structure is easy to understand and feels quite personal - you won't feel lost in a sea of customers! They're transparent, compliant, and offer a variety of services you can use to be clients too.
MyCorporation and InCorp have Better Business Bureau (BBB) registration, with no active complaints. InCorp was also founded in 1998 and had over 100,000 registered clients. They're the 4th biggest registered agent service in America and can manage compliance well with their dedicated EntityWatch tool.
Key Similarities
- No compliance issues
- Better Business Bureau registration
Key Differences
- InCorp has EntityWatch, which helps you remain compliant
- MyCorporation has a transparent business structure to help you understand the services you receive
Customer Service
MyCorporation offers a simple professional service that has garnered hundreds of positive reviews. You can complete their formation process in three easy steps. Overall, customer experience is paramount. Customers have become frustrated with their contracts - they can be hard to get out of. InCorp is also great, with good availability, and they also offer bilingual customer support. Other than this, reviews are usually positive.
Key Similarities
- Customer feedback is mainly positive
Key Differences
- InCorp offers bilingual customer support
- MyCorporation seems more flexible and rates better for ease of use
Structure Breakdown
When you're considering a service provider, a lot should be taken into account. You've already seen an in-depth comparison between these two, but let's also look at how each company works for each business entity.
With bilingual customer support, annual report services, and attractive limited liability company packages, InCorp is ideal for small businesses. They also offer great discounts, but some customers report canceling these. However, MyCorporation offers other great benefits like a transparent business structure, longer running reputation, and faster processing times.
With their multiple service packages and increasing service levels, MyCorporation offers everything you could ever need for your corporation. They have an easy-to-use website and premium users can enjoy MaintainMyBiz, offering you personalized service designed to help your business.
Since they charge on an a la carte basis, InCorp can help you save money by setting up low-priced DBA (doing business as) partnerships. They offer this service for just $99. With MyCorporation, you would likely be encouraged to set up a limited liability and share responsibility between partners instead.
MyCorporation can help you set up a corporation and apply for non-profit status. Their customer reviews indicate that they have succeeded, though they're not mainly geared towards non-profits. InCorp doesn't offer services to non-profits.
The Last Word
MyCorporation and InCorp offer excellent service, but they have significant drawbacks. MyCorporation is excellent across the board, but it can be pretty expensive aside from its introductory package, and registered agent service is only included in the deluxe package (beginning at $229). InCorp offers bulk discounts, but this could lock you into a contract that is difficult to leave. Overall, you may find other companies such as IncFile or LegalZoom better for your needs.
Filed under: Head-to-Head
