MyCompanyWorks is a great company that was started in 2001 and provides LLC formations and several legal services to more than 60,000 customers.
Although you will find a lot of services that offer LLC formation services online, this company has made a name for themselves in this industry.
But like most companies, they have their own pros and cons which is why we have prepared this review of MyCompanyWorks for you so that you can know more about it before deciding whether you should opt for them to form your LLC or not.
Pros and Cons of MyCompanyWorks
Pros of MyCompanyWorks
- MyCompanyWorks has received amazing feedback from the customers and has an almost perfect rating score received from around 3000 reviews.
- This company has helped over 60,000 businesses to get formed by now and there are several other LLC formation websites as well but they haven’t worked with as many customers as this company so, you cannot completely rely on them.
- MyCompanyWorks has a base package priced at $79 and has a personalised LLC operating agreement along with organizational minutes, and a compliance alert system that informs you about the important filing deadlines. There are not a lot of competitors who can provide you such features as a part of their base LLC packages.
- Finally, they also have amazing customer support. The company is known to return majority of the emails and phone calls received from the customers in just under 20 minutes time when you reach out to them in the business hours. Most other companies end up taking a complete business day or sometimes a little longer also to revert back to the customers.
Cons of MyCompanyWorks
- One of the major disadvantages of using MyCompanyWorks is that they don’t offer registered agent service in the basic or entrepreneur packages and is only available in the Complete package that costs $279. You will find many other LLC providers that include this service for free or at a lower cost.
- Also, MyCompanyWorks is not the most affordable LLC services online so you will easily find a lot of options there. In fact, there are a few LLC services that charge $40 less or something similar.
Package Pricing of MyCompanyWorks
Is MyCompanyWorks Good for LLC Formations? Now, before you read about the packages and pricing of this company, let us tell you a little bit about MyCompanyWorks that makes it a good choice for LLC services.
Although paying $79 for LLC formations is not expensive or too much and is actually cheaper than hiring a lawyer for it, but this company doesn’t offer a lot of features as you might get in the same value in other LLC websites. This is generally because they don’t include the registered agent service in all the packages as it costs $99. However, keeping all this aside, MyCompanyWorks is a good option for you.
Price: $79 + State Fee
In the basic package of MyCompanyWorks, you can get the following features:
- Drafting and Filing the Articles of Organization – One of the major features of this package is that MyCompanyWorks will prepare the documents that you need to file with the state to proceed with the LLC formation process. This LLC service provider will not only draft these documents for you but will file them with the state on your behalf too.
- Searching the Availability for Business Name – Another major feature of this package is that MyCompanyWorks will look through the state database to ensure that the business name that you want for your LLC is not already taken up by another business entity.
- Preparing an Operating Agreement – They will also take care of the custom operating agreement for your LLC that will describe your LLC’s ownership structure and will mention how your company is going to be operated.
- Unlimited Customer Support – You will find that there are several LLC service providers who offer good customer support via phone to only those customers who have selected a higher priced package. However, that is not the case with MyCompanyWorks as it offers good customer support to all its customers.
- Minutes of Meetings – Although LLCs don’t need to make minutes of the meetings but if you want to, then you can always get the customized minutes form for your LLC by MyCompanyWorks so that it is easier for you to organize these meetings.
- Compliance Alerts – Finally, you also get access to a tool that will help you manage all your deadlines and filing requirements. With this tool, you will be on time for any compliance issues and won’t miss a single deadline.
Price: $199 + State Fee
- Acquisition of EIN – An EIN translates to Federal Tax ID Number which is important for a business. This number allows the businesses to operate by hiring employees, opening business bank accounts, filing taxes, and so on.
- Business Forms – You also get sample documents that you can use to customize for your business needs. There are over 200 documents in the company’s library that can be accessed by the customer.
- LLC Seal and Kit – Although you don’t really need it, MyCompanyWorks also provides the users with a symbolic company binder which has the company name on it, a decorative seal, a few sample forms, and so on.
Price: $279 + State Fee
In the Complete package, you get all the features of the Entrepreneur package along with:
- Registered Agent Service – All the LLCs operable in America need to assign a dedicated registered agent for their company. A registered agent can be anyone and is responsible for getting the important business documents and then forwarding it to the LLC owners. A registered agent is extremely important because without them, the state has no reliable source to contact your business and you could end up missing a lot of compliance deadlines this way.
Customer Reviews for MyCompanyWorks
Since MyCompanyWorks has been here for around 20 years, you can easily find a lot of customer reviews online to understand the service experience provided by them. There are easily more than 2,000 reviews available online so you can easily go through them to read the customer feedback for this company.
From what we found, most customers were impressed with their support representatives and their LLC formation packages. Basically, this company has decent average scores regarding the customer reviews and most entrepreneurs are happy with their decision to choose MyCompanyWorks to form an LLC.
Other Alternatives to MyCompanyWorks
MyCompanyWorks is quite an affordable company but it might not be the right LLC service provider for many entrepreneurs. Thankfully, we have several companies who are offering these services nowadays so, if you don’t like MyCompanyWorks, then we can suggest other LLC service providers for you as well. There are mainly two options to consider:
Northwest Registered Agent ($225) – If you don’t like MyCompanyWorks and are in search of a more premium service, then Northwest is a great option to consider. With the best customer support, this company is praised by a lot of customers and it also comes with registered agent service completely free for a year in all its packages.
ZenBusiness ($39) – Another great option that provides the best value in terms of LLC services is ZenBusiness. They are priced at just $39 for the basic package and give registered agent service to the customers free of cost for a whole year along with an operating agreement.
Is MyCompanyWorks a Good Choice For You?
Basically, MyCompanyWorks is an amazing LLC formation website and has a lot of advantages in terms of LLC services. So, if you are confused whether you should opt for them or nor, check out our guidelines below.
When to Use MyCompanyWorks to Form an LLC:
If you care more about customer service and feedback, then MyCompanyWorks is the perfect choice for you. Moreover, they offer customized operating agreement to their customers which can help you decide the ownership structure of your company.
When Not to Use MyCompanyWorks to Form an LLC:
Are you looking to save a few extra bucks or want more features in your LLC services? Well, if yes, then you can easily opt for any other LLC formation services that is reliable and trustworthy.
We surely feel that MyCompanyWork is an excellent LLC formation company that can offer amazing services for your business. You can definitely find other options to save money but generally, there is nothing wrong with MyCompanyWorks as well. It is an amazing LLC website and you would do well to choose it to form an LLC.
Frequently Asked Questions About MyCompanyWorks
Have a few questions regarding LLC services of MyCompanyWorks? Then, read on to know answers to your questions.
Do They Give Any Discounts?
One of the most frequently asked questions about MyCompanyWorks is that whether they give any discounts or not. Sadly, we weren’t able to find any promo codes or discounts for their website so, presently, they don’t offer any discounts as such.
Is This a Legit LLC website?
Formed in 2001, MyCompanyWorks has helped over 60,000 businesses to form LLCs so, we find it to be quite legit. In fact, you can also find customer feedback for this company online so you can read about how impressive their services are and what makes them stand out from the other LLC websites in the industry.
There are more than 3000 online reviews and they have an amazing average rating score. We found that most of their customers are pretty happy with their services and find it quite easy to contact their customer support representatives when they need help with a query or an issue.
How is MyCompanyWorks in Comparison to Other LLC Providers?
Honestly, there are several other LLC service providers that we prefer to this company as a few of these LLC formation websites even offer a lower rate altogether while giving amazing features. So, we do prefer ZenBusiness or Northwest LLC services more than MyCompanyWorks.
Although MyCompanyWorks is a good option too, the main thing that holds us back is their pricing and the package features. So, if you are looking for the best LLC service experience, then we would rather recommend ZenBusiness, IncFile, or Northwest to you.
Would You Recommend MyCompanyWorks LLC Services to Your Friends and Family?
Well, it depends on a lot of things. Generally, if anyone asked us whether MyCompanyWorks is a reliable and effective LLC formation website or not, then we would say yes, they are. They have an amazing customer feedback and efficient customer support but you will find other better options as well to choose from.
Our recommended LLC services would have to be Northwest and ZenBusiness as they offer registered agent service for the complete year in all the packages but MyCompanyWorks offers this service only in the highest package. So, if you are looking for overall best value, then MyCompanyWorks is the best.
Do They Offer a Good Customer Support?
Since they have everything in-house, they are able to provide amazing customer support. And the best thing about MyCompanyWorks is that it doesn’t transfer your call to a call center and you actually talk to a company representative who knows what he is talking about.
Do They Offer a Refund?
Yes, they do but the refund amount usually varies.
The refund amount depends on the order status on the date when you are requesting the refund. It will usually be the total order amount minus a cancellation fee of $25, $50, or $75. But once they have filed your documents with the state, you won’t get any refund for your order.
Can You Form an LLC On Your Own?
Yes, it is possible to form an LLC without any help of an attorney or an online business service. However, the process of forming an LLC can be a bit of a hassle, considering that usually each state has their own rules and regulations about the LLC formation.
Do I Need to Reserve the LLC Name Before Forming an LLC with MyCompanyWorks?
Well, there is no need to reserve the business name when you are forming an LLC. You can simply start the formation process without reserving the name but if you are likely to not form an LLC anytime soon, then it is a good idea to reserve the name so that your chosen business name doesn’t get taken up by another LLC.
You will find that all states except Florida have an option of reserving the name before forming the LLC itself. On the other hand, if you are planning to form the LLC in Alabama, then you would need to reserve the name before forming the business. It is mandatory in such states to reserve the name before you can start the process of LLC formation.
Can You Start the LLC Formation Process Without Being Physically Present in the United States?
Yes, absolutely. You don’t need to be in the United States to file the documents for LLC formation with a state. That’s not all, one doesn’t even need to be an American citizen or resident to form the LLC since foreign individuals can easily form LLCs in the American states and can operate them like an American citizen.
Does MyCompanyWorks Handle New York Publication Requirements and Alabama Name Reservation?
No, they do not manage the New York publication requirements. Basically, they don’t offer services for state-specific requirements but they do help you by sending you detailed instructions on how to publish your LLC, if that is required for your state of formation.
That being said, they will take care of the Alabama Name reservation step as it is a part of the LLC formation process in Alabama.
How to Contact MyCompanyWorks’s Customer Support Via Email and Phone?
If you wish to reach out to MyCompanyWorks on phone, then you can call them at 800-326-1362. While they haven’t shared their email address on the website, you can reach out to them through their email contact form that is available on the website.
After submitting your message, a customer support rep will contact you via email to help you with your queries.
Do They Share or Sell Customer Information with Third Party Companies?
On their website, you will find a few special offers which would require them to share your information with the third party companies. For instance, when they offer to set up a business bank account for your LLC, then they would need to share your business information with Bank of America.
Also, if you chose to opt for their Free Domain with 1 Year Hosting option, then they would need to share your information with a Hosting Provider known as InMotion Hosting.
However, if you are concerned about your privacy, then you can always choose to opt out of these offers. But if you don’t want this option, then you can simply go for Northwest that doesn’t offer any add-ons and doesn’t even share the personal information with any third-party companies.
Does MyCompanyWorks Has a Lot of Upsells?
If you are comparing the upsells volume to LegalZoom’s upsells, then you are in luck because MyCompanyWorks doesn’t offer too many upsells to the customers. We have found several other LLC providers who pressurize their customers to add these additional features to their order which can end up pretty expensive for them but that is certainly not the case with MyCompanyWorks.
Sure, they off you a few optional add-ons to include in the order but they don’t force you to take them.
How Much Time Does MyCompanyWorks Take to Form an LLC?
Generally, the processing time of an LLC formation depends on the state and not on the LLC service provider but overall, MyCompanyWorks is quite quick in forming LLCs. Moreover, they offer an expedited service option to their customers to quicken the turnaround time so that the LLC processing can be completed in just a few days instead of a few weeks.
What Services Does MyCompanyWorks Offer?
Although MyCompanyWorks doesn’t offer a lot of add-on services like other LLC providers, it still has a nice list of services that the customers can opt for. They offer several services such as amendment of annual reports, doing business as names (DBA), dissolutions, apostille, annual report filing, registered agent service, foreign qualifications, virtual office service, and so on.
Should I Get an EIN via MyCompanyWorks for the Extra Cost?
To really answer this question, we would need to understand the needs of your particular business. Mostly, customers who would like the convenience of the EIN being together with the LLC documents opt for this service as it saves them time and effort, even though it costs a little extra in the end.
However, that being said, there are many entrepreneurs who end up acquiring the EIN from the IRS directly because they wish to save a few extra bucks and have the time and resources to go through the process. So, if you would like the convenience of not getting the EIN yourself, then choosing MyCompanyWorks to do it for you is a good option.