Is your business or side hustle growing and it’s time to consider starting a Limited Liability Company (LLC)? Having an LLC is a wise decision and MyCorporation LLC services may be the right option for you.
I recently started my third LLC company and looked at other services. In our MyCorporation LLC review, I will share my experience using the company.
Besides LLCs, they also offer non-profit filing, S-Corp Filing, C-Corp, DBA and more.
Table of Contents
Why You Need An LLC
The first question you need to ask yourself is are you ready to form a corporation like an LLC?
I was. This was my third company. I started an LLC when I lived in Arizona, then another when we lived in Washington, and I just recently started one in Texas. Each experience was different.
Financial Stability
First, I chose to use an online service this time around because I wanted to ensure all of my financial paperwork would be set up correctly.
Knowing that my company was starting to make money each month was a key indicator it was time to get the LLC paperwork in order. Plus I wanted to have a legitimate bank account and business papers to go with it. I knew I needed to protect my assets.
Once you have your LLC set up, you can go to the bank and set up a checking account.
I love the fact that I was provided a folder with all of the appropriate papers I needed to get a business checking account started. It was super easy to make an appointment with a personal banker at my local bank and get an account set up within 30 minutes.
State Requirements
For my latest LLC, I decided to use MyCorporation to help with state requirements. I learned a hard lesson from my previous attempts of setting up an LLC, and not having all the answers.
Each state has specific requirements. And they may require you to pay additional taxes based on what you sell or offer.
When I lived in Washington, I learned after the fact about the Business and Operating Tax. This tax was required for each business.
Luckily the taxable amount was not too bad. If I had not been told about the tax, the payback could have been sizable years later.
Plus some states will offer you better opportunities to bid on a job. Having an LLC properly set up will help ensure other licences.
While in Washington, I was able to apply for a Women Owned Business License that provided me access to more job opportunities.
Why Choose MyCorporation?
Choosing the right LLC formation service can make a big difference. There are many out there.
First, you need to figure out what your business needs. Some companies just need the state and federal papers set up. Others require set up in Delaware and S Corp paperwork completed.
For the purpose of MyCorporation LLC Services, let’s look at what they offer.
Offerings
Articles of Incorporation and Business Documents – This includes setting up a corporate organization (filed with state and federal governments), Tax EIN number, documents including Bylaws, sample Minutes, Stock Certificates.
Document Vault Storage – This includes storage of your filing documents in their safe secure site. You will be given copies yet if you ever need a copy, you can access your account 24/7.
Name Check – Find out if the name you decided to call your company exists. Filing your paperwork will help secure that name.
Annual Reporting – Companies are required to report to the state information including business activities, business location, and current contact information. As a result, this is automatically done for you with certain packages.
Registered Agent Services – Choosing a RA is a great option to accept legal and official documents on behalf of your business. Allowing MyCorporation to serve as the RA will help keep your business in compliance, ensuring you receive all necessary documents.
Maintain Paperwork– They will file your paperwork up to 4 times a year to help keep you in good standing.
Education – They provide insight to help explain the difference between types of corporate formations. For example LLC vs S Corp.
Customer Service – They have served over 1 million clients and have a 4.5 out of 5 Stars Trust Pilot status.
Benefits – Other benefits may include legal protection, tax support and simplicity.
Marketing – Do you need your logo created or a secure a website and build it out? MyCorporation does a great job of offering this service.
Trademark and Copyright Filings – They make it easy for you to protect your business name or logo by helping you file your trademark. Additionally, they help protect your original work like a book, music or video with copyright filings.
Getting Started With MyCorporation LLC Services
Before you get started using MyCorporation LLC services, there are a few things to plan out.
Your Company Information
Business Address & Phone – First, make sure you have a business address. You can always change your paperwork later yet, try to have everything ready prior.
Flexibility – Second, be flexible. I had already created my company name and the web domain was not available. We went with a dash between my company names to secure the site name.
Business Ownership – Know who the owner of the company is. You will need to establish the owner and the manager role. For one person, they typically do both.
To get started, simply go to MyCorporation and click at the top, Start A Business. From there it will have a ton of options. On the left it will show which types of business.
For the sake of this review, let’s choose an LLC, which is what I started. Next it will bring up a page to get you started with a brief overview of what a Limited Liability Company covers.
Filing Options
Next, select Start Your Business. The site will bring up an overview of options. What I loved about this was all of the options to choose from.
MyCorporation does a good job of reminding you that there are additional state fees.
Next, select your state. The site will list fees based on your location.
At first I felt a little sticker shock. Yet I was able to put this cost as a business expense.
Note, if you choose to go with a lower package and need to go back and have MyCorporation help with annual filing fees, you can do that. Obviously there will be a fee at that time.
For my company, I chose the Deluxe option. All packages offer additional services such as payroll processing, logo design, domain name, website design, customer relationship management, business check, credit card and more.
Additionally, MyCorporation LLC services partners with companies such as Gusto Payroll and others to make sure your company gets set up right.
Once you choose your option, the site will prompt you directly through each step. As mentioned above, make sure you have your business address decided. Be it your home, a PO box, or the physical building.
Next, you will answer questions about your business, who will be the owner, and other operating information. MyCorporation does an excellent job asking the right questions. And if you are not sure, simply contact them for clarification.
Payment
Once done completing all of the information, you will be prompted to confirm and submit payment. You will also get an email and or phone call follow up from one of their amazing staff to go over your paperwork to make sure they have everything in order. This is why they get 5 star reviews.
Based on your filing needs, you should have your paperwork in about 3 weeks. I was not in a hurry so I went with the regular plan. If you need your paperwork expedited, there is an additional fee. Personally, the normal route was pretty fast.
Summary
MyCorporation LLC services is a great resource to help you set up your company. We give them a 5 star review for their customer service, ease of use site, and filing process.
Consequently, starting a company can be overwhelming. Let’s face it, you started the company because you are good at what you do.
For most of us, managing day to day company administrative tasks are low on the to-do list. Hence, this is why I used a company like MyCorporation to handle my company filing needs.
To get more information, check out MyCorporation online.