MyCompanyWorks | Reviews by SmallBizGenius
- 100% satisfaction guarantee
- One-day processing
- Free e-delivery
- Lifetime company alerts
- Rush Filing service
- Extra cost for registered-agent services
Score: A+FIND OUT MORE
In business since 2001, MyCompanyWorks has helped more than 60,000 clients establish LLCs and other kinds of corporations in the most efficient way possible. MyCompanyWorks has expertise in the paperwork requirements of all 50 states, so you’ll immediately get an estimate of fees and timelines for your specific case.
MyCompanyWorks reviews your data, completes the paperwork, and files it quickly – usually the same business day. Prices are fair and pricing plans are presented on the website without hidden fees or extra charges. The one exception: MyCompanyWorks doesn’t include registered agent services in its basic package. If you need a registered agent, you need to opt for a higher tier of services or pay $99 per year.
MyCompanyWorks changed its name in 2016. If you want to do some deep research on the company to see how it has satisfied its customers over the years, you’ll need to search for MyNewCompany reviews. But honestly, there’s no need to go to that effort. We’ve done the research for you and included everything we learned in our in-depth evaluation.
MyCompanyWorks gives you access to an easy-to-use dashboard that lets you keep track of all your orders. Even if you apply on behalf of multiple corporations or LLCs, you’ll find all the status updates in one place. There is no limit to the number of companies you can set up at once.
With the company’s online LLC formation service, you also get scanned versions of all the filed documents free of charge. This aligns with the company’s promised transparency practices.
Lifetime company alerts
No matter which package you choose, MyCompanyWorks will send you important alerts for keeping your business healthy. The service comes with an annual checking list for managing a company so you don’t miss any important dates.
If you’re establishing a corporation, you’ll be subject to a host of obligations and responsibilities. MyCompanyWorks helpfully provides a detailed handbook with instructions and tips to guide you through managing your business.
100% satisfaction guarantee
MyCompanyWorks LLC formation services come with a 100% satisfaction guarantee. This means you’ll get a full refund in case the service isn’t as promised on the site. Note that the refund doesn’t include fees paid to government institutions.
Getting started with MyCompanyWorks is as simple as can be. After clicking on the call-to-action button, you’ll be asked to identify the type of entity you want to establish (C corporation, S corporation, or LLC) and the state you’re from. You’ll also need to choose a package from among MyCompanyWorks’ options and mark any extra features you want. Once that is done, you fill out a short form with some basic information and mark the order complete.
If you decide that you want to choose a different LLC service package, for example, you can simply save your details and edit the information you provided earlier. This is a useful feature that will save you a lot of time and frustration. After all, the whole point of using these services is to reduce the LLC paperwork and speed everything up.
You’ll need to provide the following information:
- Standard contact information
- Shipping address
- Name of the company and business purpose
- Contact information for your registered agent
- List of managers/members/officers
- Federal Tax ID
If you don’t have a registered agent, you can hire a professional from MyCompanyWorks, Inc. for $99 per year. If you don’t have a Social Security number, it will cost you another $50 to obtain a Federal Tax ID.
Applications are usually processed the same day if they are sent before 3 p.m. Eastern Time. Those that arrive after 3 p.m. are processed the next business day. You receive government documents in response sooner or later depending on the state you live in. It takes anywhere from a couple of days to about three weeks.
One thing we have to mention in our MyCompanyWorks review is the Rush Filing option. For a slightly higher price, you can expedite the process with overnight shipping, hand delivery, and other special methods.
For the most part, the application process is automated. There’s very little chance your application will be rejected. If it is, MyCompanyWorks will correct the errors and re-file the paperwork at no charge to you.
Best States for Establishing an LLC
The first option for forming an LLC should always be your home state. According to every good LLC website, that is how you will pay the least in taxes and fees. If you register in a different state, you will most likely be required to pay a re-registration fee. This is necessary for all companies dubbed “foreign corporations.”
That said, there are a couple of states that have become fertile ground for both large and small corporations.
- Delaware is the number-one choice for some of the biggest corporations in America thanks to its highly detailed business laws and regulations. According to an official state website, more than 66% of Fortune 500 companies decided that the best LLC formation is in this state. Another great incentive is the existence of the Court of Chancery, a reputable judicial institution that specializes in complex business litigation.
- Famous as a safe haven from the IRS, Nevada is a go-to state for big companies that want to stay under the radar. Along with Texas, Nevada has no information sharing agreement with the IRS. Nevada also has no corporate income tax, no franchise tax, no personal income tax, and no taxes on corporate shares. On the other hand, Nevada does have high LLC filing fees – about $425.
- Wyoming has recently become a honeypot for businesses. The filing fees are much lower than Nevada’s, and Wyoming corporations enjoy many of the same benefits. Wyoming’s business-friendly laws offer great protection for corporations of all kinds.
MyCompanyWorks offers three packages: Basic, Entrepreneur, and Complete. The $79 Basic plan includes:
- Unlimited name availability searches
- Prepare and file articles of organization
- Personalized organizational minutes
- Personalized LLC operating agreement
- Online order tracking and status updates
- Same-business-day processing
- Order is audited for compliance and spelling
- Unlimited phone and email support
- New LLC handbook
- Startup wizard
- Free company alerts
- Access to scanned documents online
- Lifetime access to “My Account”
- E-book: Startups Made Simple
The Entrepreneur package includes some important MyCompanyWorks features that are missing from the Basic pack. You can also purchase each of them individually.
Obtaining a Federal Tax ID number
LLC kit, seal, and member certificates
MyCompanyForms Lifetime Business Forms & Tax Guide
You don’t need a Federal Tax ID if you have a Social Security number, and the binders and certificates in the second list are things you can easily do without. The real value here is the one-time payment for lifetime access to the company’s updated business forms and tax guide.
It’s clear from our inspection of MyCompanyWorks reviews on the web that the Entrepreneur plan is the most popular option. At $199, it costs $120 more than the Basic plan, but it includes $147 worth of extra goodies.
The $279 Complete package is the Entrepreneur plan plus a year of services from a registered agent. This is good value considering that MyCompanyWorks would otherwise charge you $99 per year for the registered agent alone.
The company offers some additional services that are worth considering:
- The $99 Business License Compliance package is an easy-to-use wizard that helps you figure out what paperwork and information you’ll require for each license. It provides all the forms you need and instructions on how to fill them out.
- The price for a domain name registration and one year of InMotion website hosting is $99.
- The MyCompanyWorks management program ($99 per year) gives you a host of features necessary for maintaining a successful business.
- The company’s Rush Filing Service costs $20 and can get your application processed a few days sooner.
MyCompanyWorks also offers to refund the difference if you find an equivalent service at a lower price. The trick here might be in the phrasing because the company emphasizes the fact that the competitor should provide the same level of service. Naturally, this is open to interpretation, but you should definitely contact MyCompanyWorks customer service if you’re not completely satisfied with the results. The MyCompanyWorks 100% satisfaction guarantee means you can get a complete refund minus taxes and fees paid to the government.
BBB Rating & User Reviews
MyCompanyWorks has an excellent A+ score at the Better Business Bureau. There is one active complaint, but it seems weak on merit – a matter of opinion rather than an objectively negative experience. The company answers it professionally and eloquently. There are no complaints from users about the actual service that the company provides.
Besides the excellent MyCompanyWorks BBB rating, the company also has a 4.9 score on the Shopper website based on more than 3,000 reviews from verified customers. Former customers especially praise the company’s support agents as fast, friendly, and helpful. Email correspondence seems to be their preferred method. It takes them 10 to 20 minutes to reply to inquiries. You can also reach them via phone.
MyCompanyWorks vs LegalZoom
MyCompanyWorks is often compared to another popular LLC formation assistant: LegalZoom. Both companies were established in 2001, but LegalZoom has grown faster and claims to have served more than 2 million customers. You might naturally assume that the larger company offers better deals, but that is not the case. MyCompanyWorks has more affordable prices, better features, and gives you more value for your money. For example, LegalZoom charges $299 for the registered assistant package that’s just $99 per year at MyCompanyWorks. It is clear which company offers the more affordable LLC services.
Overall, MyCompanyWorks is a reputable, reliable company with fast turnaround times and affordable prices. If you don’t need extra features or heaps of forms, the Basic package will do the job perfectly for just $79. All of the features are thoroughly explained on the site, and the company’s stellar customer-service agents are there to help. Our MyCompanyWorks LLC service review recommends the company wholeheartedly.
How fast is MyCompanyWorks?
Orders sent before 3 p.m. Eastern time are processed the same day; those that arrive later are processed on the next business day. The actual turnaround time for your business application varies depending on what state it’s filed in – anywhere from a couple of days to a couple of weeks. MyCompanyWorks’ Rush Filing service can sometimes reduce the waiting time to just a few days.
Does MyCompanyWorks have a refund policy?
Yes, there is a MyCompanyWorks satisfaction guarantee. If you’re not completely satisfied with the service, you can contact the customer support team and ask for a refund. The company will rectify any mistakes first and try to solve any issues you have. If this proves unsuccessful, you will get your money back – not including taxes and fees paid to government agencies on your behalf, of course.
Is MyCompanyWorks a scam?
According to numerous MyCompanyWorks reviews on the internet, this company is a legitimate business with a proven track record and thousands of satisfied customers. It holds an A+ score at the BBB and 4.9 on Shopper. MyNewCompany also had a good reputation when MyCompanyWorks was known by that name. The website is transparent with its prices and features, so there are no surprises. It doesn’t look like a scam to us.