MyCompanyWorks review: Does It Have What You Need?
Using a professional LLC service provider makes it easier and faster to incorporate your company. MyCompanyWorks is one of the popular LLC formation companies in America.
In this MyCompanyWorks review, we'll highlight its key features, pros and cons, pricing, and what it brings to the table.
- Refund policy: MyCompanyWorks refunds its clients fees within 90 days of initial purchase if they're displeased with the service.
- Quick turnaround time: MyCompanyWorks helps its clients to process their formation paperwork the same day they submit their order, as long as it's before 3 pm.
MyCompanyWorks, formerly known as MyNewCompany, was established in 2001 and has helped over 60,000 companies since its establishment. It offers clients a 100% satisfaction guarantee and has one of the best refund policies in the industry.
Keep in mind that we may receive commissions when you click our links and make purchases. However, this does not impact our comparisons and recommendations. We try our best to keep things fair and balanced, in order to help you make the best choice for you.
The company made Inc 5000's 2017 private list of the fastest-growing companies - this is a testament to its professionalism. Over the years, MyCompanyWorks has garnered over 2,600 online reviews, and most of them are positive. Its clients are particularly pleased about its fast and easy business formation process.
Key features of MyCompanyWorks
Complete business packages
Besides helping its clients incorporate their businesses, MyCompanyWorks assists them with legal documents to set up their companies. Its basic package offers name availability checks and focuses on filing paperwork with the selected state.
Once the filing is complete, MyCompanyWorks provides clients with documents and an operating agreement. Of course, its service extends throughout all fifty states and Washington D.C.
Startup Wizard feature
For most startup businesses, adapting business operating agreements, issuing stock, etc., might not come easy. MyCompanyWorks provides an online interactive startup checklist, which is known as The Startup Wizard.
The Startup Wizard is included in all the available packages. The end result of using it is saving clients the money that would otherwise be spent hiring a lawyer to complete their legal documents.
Notifications and lifetime alerts
MyCompanyWorks offers its clients lifetime alerts that ensure they don’t miss their annual filing and other deadlines. You’ll avoid fines and will be in a position to file for a certificate of good standing.
The good news is that the company doesn’t try to sneak in charges, and if you’re on a subscription, you’ll get a notification 60-days before renewal.
MyCompanyWorks has three LLC service packages - Basic, Entrepreneur, and Complete. Each of the plans is highlighted below.
MyCompanyWorks basic package costs $79 plus state filing fees. It offers its clients the features listed below:
- Name availability search
- Custom meeting minutes
- Preparation and filing of articles of organization
- Startup Wizard Interactive startup checklist
- LLC operating agreement
- Company alerts
- Same business day processing
- Online order tracking
- Online status updates
- Online scanned documents
- The New Corporation Handbook - a 23 page book that helps the clients understand, maintain, and close or change their corporations.
- Unlimited phone and email support
This package costs $199 and includes everything in Basic while adding the following features:
- Federal Tax ID Number (EIN)
- MyCompanyForms Business Forms - contains sample documents, with a library of 200+ business forms that its clients can customize.
- LLC kit and seal
The company charges $279 plus the state filing fees for the package. It includes everything in the Entrepreneur plan plus a year of registered agent services.
Registered Agent services
Registered Agent services are only available in the company's complete package, so its clients need to purchase this add-on service for the other plans.
MyCompanyWorks has a network that spans all fifty states and only charges $99 per year. The registered agents ensure quick filing, statutory compliance, and prevent "junk mail" from arriving at the client's business or home address.
Corporate kits, seals, and stock certificates
MyCompanyWorks can provide its clients with appealing custom-made kits to keep their operating agreement, stock certificates, and records, etc. well organized.
It also includes a 3-ring binder, slipcase, company name gold embossed on spine, LLC seals, etc. It costs $79 which includes FedEx Ground shipping.
MyCompanyForms, Tax Guides, Business Forms, and more
This add-on service is ideal for startups and existing businesses because it saves the clients a lot of time and money in legal and tax preparation fees. It’s also perfect for LLC or corporation self-filers - for the "after formation" tasks. It’s only $35.
Business license Compliance package
MyCompanyWorks will help its clients research the federal, state, and local licenses and permits they need to run a compliant business. The company charges $99 for this add-on service.
Ease of use
The interactive Startup Wizard makes placing an order with MyCompanyWorks pretty easy. The order process is straightforward and only takes about 10 to 15 minutes to input the necessary details. It also provides its clients access to an online dashboard to store their legal documents securely.
Pros and cons
- All its packages have a 100% satisfaction guarantee.
- Fast turnaround time
- Provides its clients with electronic access to the scanned copies of their completed formation documents
- Offers its customers free ebooks
- Excellent customer support and feedback
- Broad LLC formation packages
- Notifications and alerts
- Interactive Startup Wizard provides its clients with a step-by-step guide on the LLC formation process.
- Registered agent services are only available with the highest package
- Its packages are comparatively expensive when compared to some LLC formation services.
MyCompanyWorks offers its clients both email, and phone support from Mondays to Fridays from 8 am to 4 pm via phone and 7 am - 5 pm through emails.
Its customer representatives respond to customer inquiries promptly, and provide tailored answered depending on teh situation.
If you contact them via email, they'll send more links to expand your knowledge of what you're asking. The downside to its customer support is that it has one of the shortest availability windows in the industry.
Alternatives to the service
ZenBusiness is one of the top-rated LLC formation services online. Its strength is the excellent customer service which has led to countless positive reviews. It’s socially conscious; and focuses on doing good while at the same time growing its revenue.
The basic formation package is one of the cheapest in the industry; it starts at $39. It can also help clients with annual report filing and some other ongoing LLC maintenance tasks.
ZenBusiness also offers its clients a free year of registered agent services, preparation and filing of articles of organization, LLC operating agreement, name availability check, etc. You can read the full ZenBusiness review here.
LegalZoom is another prominent LLC formation service provider. It has thousands of reviews online, and the majority of them are positive. It’s ideal for people who want an established brand, access to various legal services and products, and form a professional LLC (PLLC).
Some of the services it offers are articles of organization, name check and business filing, lifetime customer support, financial account authorization letter, etc. You can read the full review here.
Incfile is well-known for its business formation services. Its business experts are familiar with the processes/requirements in all fifty states, so you can feel confident choosing them irrespective of where you are.
Incfile offers its clients a free formation package and a year of registered agent services (this is available in all packages). The turnaround times are fast; it provides a federal tax ID number (EIN) for its clients, and worry-free compliance. Read the full Incfile review here.
MyCompanyWorks is a top-notch LLC service provider. It offers its clients a 100% satisfaction guarantee. If you’re unhappy with the service, you can ask for a refund within 90 days of the initial purchase.
The company's customers are particularly pleased with its ease of use and speed. It has a lot of reviews online, and the majority are positive.
MyCompanyWorks also provides excellent customer support by responding promptly with information that’s actualyl useful. However, the downside to its customer service is that it has limited availability - one of the shortest in the industry.
It tries to make up for the short window to access customer support by offering same-day processing. It also provides a step-by-step guide through the business formation process via the Startup Wizard.
Another significant downside to the company is its lack of inclusion of registered agent services in its Basic and Entrepreneur packages. Also, its Entrepreneur and Complete packages don't provide much aditional value for the money.
Despite its few lapses, MyCompanyWorks is a justifiable option, particularly for clients looking for essential business documents to go with their LLC formation. The service is well-geared to act as an advisor. If you want a hands-off approach and quick turnaround time then this is a great service.
Frequently asked questions (FAQ)
Does MyCompanyWorks offer publication service?
In some states, business owners need to publish their companies' formation in a local newspaper.
States like Nebraska and Arizona, for instance, require a publication for corporations and LLCs. While Georgia and Pennsylvania require publications for corporations only, and New York city requires it for LLCs only.
MyCompanyWorks doesn't offer a publication service to its clients; however, they'll provide them with a step-by-step guide on how to complete their publication requirements.
What's the refund policy of MyCompanyWorks?
Once the customer requests for a refund within 90 days of a product purchase, s/he will receive the total order fee excluding either $25, $50, or $75 for the state filing fees.
The client will notify the company of the refund and also state the reason(s) for the request. And also, in its words: "returned any product purchased to us in substantially the same condition as when purchased."
What's the most significant advantage of MyCompanyWorks?
The most significant advantage of MyCompanyWorks is its quality customer reviews.
MyCompanyWorks has excellent feedback from clients on review sites - this assures its prospective customers of its reliability.