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MyCompanyWorks helps aspiring business owners file the necessary documents to form an LLC or corporation within minutes. The service includes an interactive setup wizard, free business alerts, and a simple order management dashboard. However, pricey plans may shadow some of the benefits of this legal service. It’s up to you to decide whether the company offers enough business formation and management help to warrant the costs, based on the information in our detailed review.
Comparing MyCompanyWorks to The Best Online Legal Services
MyCompanyWorks is best for brand-new startup founders who want to start with the basics. Each plan includes guides and handbooks that explore the business end of startups, from forming to closing. You’ll also get assistance with opening a business bank account and creating a logo in addition to legally forming your business entity.
While MyCompanyWorks certainly has a lot to offer future business owners, it does not make our rankings for online legal services. Several other services on the market edge out MyCompanyWorks in features for less money. That said, you might find that all the extras MyCompanyWorks adds into each plan could be beneficial for you. See all of our top picks to compare similar services.
MyCompanyWorks: The Good and The Bad
The Good
Customer Support: Each package includes unlimited phone and email support, so every business owner can get help when and how they need it. Quick responses, upbeat attitudes, and helpful information make dealing with the support team a pleasure. And, if you opt for MyCompanyWorks Premium, you’ll get priority support.
100% Satisfaction Guarantee: No matter how perfect a service seems for you when you get started, the hype doesn’t always last. That’s why MyCompanyWorks offers a 100% satisfaction guarantee for all customers on any plan. If the company’s services don’t live up to your expectations for any reason, simply contact MyCompanyWorks to make it right or get a refund. You can do this within the first 90 days of your purchase, but it’s best to let the company know as soon as possible to correct the situation.
Virtual Office Service: In addition to business filing services, company owners can purchase a virtual office service starting at $39/month. The feature offers a physical mailing address in Nevada or Wyoming, weekly mail forwarding, discounted shipping rates for packages, and phone and fax numbers for your business. The affordable plan is perfect for online companies without a physical presence or home-based businesses that want to separate personal and business addresses.
Free Business Tax Consultation: MyCompanyWorks includes a lot of “extras” in its plans, many of which some businesses probably won’t ever use or need. However, the free business tax consultation could come in handy. This free one-hour webinar gives information about taxation for your specific entity, plus what tax forms you need, how taxes work for your employees, and the newest IRS tax rules regarding business filing.
Document E-Delivery: All customers can choose whether to have their business filing documents mailed to their physical address or conveniently delivered to their inbox. Digital document delivery includes all your documents scanned and sent to your online MyCompanyWorks account to view and print at your leisure. You’ll save some trees, have digital versions to store for your records, and receive your forms at no extra charge for shipping.
Easy-to-Use Startup Wizard: Forming a business can be tricky if you haven’t done it before. Fortunately, MyCompanyWorks Startup Wizard gives you a step-by-step checklist of what you still need to do to get everything moving. The system is tailored to the entity you choose—LLC or corporation—to give you only relevant tasks for your business. The tool also sends you reminders of uncompleted tasks if you don’t have time to finish them all in one sitting.
Additional Startup Perks: Startup founders get several bonuses for free with any MyCompanyWorks plan. One benefit is a free domain and hosting for one year to get your business website off the ground. You can also score a free consultation for funding a startup, a compliance audit for your business filing papers, and discounts and trials of software and products geared toward startups.
The Bad
Pricey for Included Features: Compared to similar services, MyCompanyWorks is a bit on the pricier side, especially considering some of its fluff features that many business owners may not ever use. Only in the highest tiered plan starting at $279 will you get free registered agent services and MyCompanyWorks Premium with features that other services include with more affordable plans.
Unnecessary Extras for Some Businesses: Unless you’re a startup founder, you may not use several of the benefits that come with your MyCompanyWorks plan. For instance, the $250,000 worth of rewards and perks included in each plan are geared mostly toward startups. Ebooks and business consulting services also cater toward startups rather than general companies.
Costly Registered Agent Services: With Basic or Entrepreneur plans, registered agent services cost $99/year with MyCompanyWorks. Other services offer this for free with lower-priced plans or give at least one year of service free for customers. To get this service for free with MyCompanyWorks, you’ll need to pay for the $279 Complete plan.
Limited Contact Hours: Although MyCompanyWorks has superior customer service in terms of helpfulness and politeness, its limited support hours could be a turn-off for business owners who need help outside of regular business hours. Currently, phone support is only available from 8 AM to 4 PM PST, and email support is open for one extra hour, starting at 7 AM PST, Monday through Friday.
MyCompanyWorks Pricing and Options
MyCompanyWorks offers three plans with various features catering to businesses of different sizes. The Basic plan starts at $59 plus your state’s filing fee. State fees can range significantly, like Missouri’s $53 fee and Alabama’s $236 fee.
The Basic plan includes the essentials, like a startup wizard to help you determine what business entity to choose and unlimited name availability searches. However, for $59, the options are pretty limited.
Other legal formation services, like Bizee (formerly Incfile), provide these features and more for free or a lower price. With MyCompanyWorks, you might also end up paying more for features you don’t necessarily need, like an eBook about startups and logo creation.
The next tier, Entrepreneur, starts at $199 plus the state filing fee, followed by Complete, which is $279 plus filing costs. These plans add a federal tax ID number (FEIN), a free registered agent service, and a guide for business forms and tax. Spoiler alert: a FEIN is 100% free through the IRS.
Again, with Bizee, you’ll get a registered agent service for free. If you only need the basics of business formation, MyCompanyWorks probably isn’t the budget-friendliest option. However, the service does offer a good amount of perks for business owners with every plan, including exclusive rewards and discounts geared toward startups.
With Basic and Entrepreneur, you can opt for MyCompanyWorks Premium for $99/year. The service, which comes free with Complete, includes 5 GB of cloud storage, business entity monitoring, and ComplianceLock™ alerts.
MyCompanyWorks LLC and Corporation Formation
MyCompanyWorks’ primary offering is its LLC and corporation formation services. The company will gather necessary information from you and draw up the legal papers required to form your LLC or corporation according to your state’s standards.
You’ll have access to an easy-to-use setup wizard that walks you through each step, so you don’t need to be a whiz with business formation to get started. If you run into snags, phone and email support are available.
Another bonus: You’ll get your business documents filled out quickly. Any order submitted before 3 PM EST on a business day processes the same day for your convenience.
Business formations include a dashboard for information about your entity and any critical alerts or correspondence, lifetime business-related alerts, and customized Operating Agreement or Corporate Bylaws documents.
Does your state require an annual or biennial report with business information updates? MyCompanyWorks takes care of those, too, so you can take one thing off your plate. You’ll need MyCompanyWorks Premium for this feature. Otherwise, you can just have the service notify you when your annual report is close to its due date so that you can take care of it yourself.
MyCompanyWorks also includes a registered agent service for free with Entrepreneur and Complete plans, or $99/year with the Basic plan. The service is available in all 50 states to receive official documents regarding your company, which most states require businesses to have.
Finally, if you decide to terminate a business, MyCompanyWorks can do it for you by filing Articles of Dissolution with your state. However, you’ll still be responsible for some closing tasks, including notifying creditors, distributing assets, and paying any taxes the business owes.
While MyCompanyWorks provides several helpful features for LLCs and corporations to get off the ground, it’s not the most affordable option. Small businesses might be better off going with a company that includes a free or more affordable registered agent service, like Bizee and Rocket Lawyer.
Still, the quick setup, excellent customer service, and same-day processing might make the extra costs worth it for some.
MyCompanyWorks Premium
MyCompanyWorks Premium is a service you can add to Basic and Entrepreneur plans for $99/year, but it comes free with Complete. Premium includes a managed annual reporting service that prepares and files your yearly reports for most states. You’ll also get business entity monitoring, which proactively checks that your company is in good legal standing with your state.
Other benefits of Premium include:
- 5 GB of cloud storage
- More than 200 business and tax forms
- ComplianceLock for extra security on your account
- Priority customer support
- Electronic ledgers
Is Premium worth its cost? It does have some perks for businesses that need to complete specific tasks to stay compliant, like reporting annual meeting minutes. Premium automatically notifies you when these tasks need to happen, so you don’t miss anything that could put your business formation in danger.
MyCompanyWorks Virtual Office
Businesses can use the MyCompanyWorks virtual office service for a real street address in Nevada and Wyoming, although you can be located anywhere in the world to use it. This is ideal for online companies that need a physical presence to receive mail and packages. You can also set up a phone number with a Nevada or Wyoming area code for your business that forwards to another phone number you already use for convenience.
Your virtual office service also forwards mail to your location weekly if you’re in the U.S. and monthly if you’re international. Packages that don’t fit within standard forwarding costs can still forward for discounted shipping prices.
You’ll manage all your mail, phone calls, and faxes online through your virtual dashboard. That means that you can see your mail, decide what you want to be forwarded, and check out business phone calls and faxes without ever leaving your workspace.
At just $39/month to start, MyCompanyWorks virtual office services are affordable. However, there are other virtual office services, like DaVinci Virtual and Alliance Virtual Offices, with more than 1,000 locations, making them better for businesses that want local addresses and phone numbers.
How MyCompanyWorks Ranks
Quite simply, MyCompanyWorks is somewhat overpriced for what it offers, which is why it didn’t make our top list of online legal services. Sure, it includes some startup guides and assistance for closing a business and filing reports. But much of what it offers is stuff most businesses don’t really need from the service, like a free logo or things they can get elsewhere for free, like a FEIN.
Some of the best online legal services offer more than MyCompanyWorks for less money:
- Rocket Lawyer – Best for most
- Bizee (formerly Incfile) – Best for business formation
- LegalZoom – Best for flat fees and versatility
- UpCounsel – Best for complex legal needs
- Avvo – Best for free legal advice
- LegalMatch – Best for locating an attorney near you
Summary
Overall, MyCompanyWorks makes forming a legal business entity about as simple as it can get. However, once you’re done with the setup, the costs might outweigh the benefits. Other companies simply charge less for registered agent services, business banking, and other helpful features. But if customer service, startup discounts, and a satisfaction guarantee top your list, the fees might be worth it to you.
Just be sure to opt into all the relevant extras when you register to get the most bang for your buck. Otherwise, you’ll be left out of free domain hosting for a year, a free business tax consultation, and other bonuses you get with any plan.
