MyCompanyWorks: Is It Good for LLC Formation?
Updated · May 13, 2022
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- Startup Wizard in the Basic package
- Free tax consultation
- Same-day processing of documents
- Great customer feedback
- $99/year Registered Agent
- Short working hours of customer support
If you want your LLC to be quickly established and your legal documents to be safely and timely taken care of, MyCompanyWorks is a solid choice. We’ll see why in the following sections of our MyCompanyWorks review.
What Is MyCompanyWorks?
MyCompanyWorks (formerly known as MyNewCompany) is an LLC formation website. Founded in 2001, it helped over 60,000 businesses to get off the ground. It also provides several legal services that are not necessarily related to LLC formation. With an almost spotless track record and thousands of positive MyCompanyWorks reviews, the platform is definitely one of the best providers of its kind.
Pros
- Complete service - MyCompanyWorks offers some of the most complete and cost-effective packages on the market in terms of services.
- Easy to use - Along with all the essential features, the Basic plan also offers Startup Wizard—an interactive checklist that helps you manage your formation documents.
- Additional services - The company provides noteworthy features, such as free business tax consultation, compliance alerts, and a free handbook in PDF format.
- Excellent reputation - An overwhelming number of positive customer reviews describe MyCompanyWorks as immensely useful and informative.
- Quick turnaround - MyCompanyWorks ensures same-day processing of submitted documents regardless of the package that you’ve purchased.
- Great support - Customer support representatives are remarkably helpful and friendly, as noted by many MyCompanyWorks reviews.
- Generous refund policy - The refund policy is very reliable: if an issue arises during the first 90 days since purchase, MyCompanyWorks will solve it or return your money!
- Affordable - The services are quite affordable compared to other LLC providers, such as LegalZoom or Rocket Lawyer.
Cons
- The biggest drawback of MyCompanyWorks is the price of its registered agent service ($99/year,) which is not included in the first two packages (Basic and Entrepreneur.)
- Although it is not the most expensive option for an LLC formation, you can also find more affordable plans than those of MyCompanyWorks, Inc.
Services
Next up, we’ll look into the essential MyCompanyWorks services and features:
Filing Articles of Organization
MyCompanyWorks will file all the necessary formation documents, preparing and drafting them in accordance with the state requirements. Note that you’ll need to pay the extra state fees in addition to the MyCompanyWorks package’s price.
Operating Agreement Service
Unlike other LLC providers, MyCompanyWorks includes this service in the Basic plan. The Operating Agreement Service saves you the hassle of creating one on your own or spending extra dollars on a template.
hanks to My Company Works, you will now be able to get this essential document (that states the business’s ownership and some agreed-upon operating procedures) for free!
Organizational Minutes
Along with the necessary formation documents, MyCompanyWorks also provides custom minutes forms to help you organize your LLC meetings more effectively.
Generally, this feature is necessary for corporations, but since MyCompanyWorks offers it with all packages, why not take advantage of it?
Name Availability Search
Making sure that the desired name for your company is not taken by another business entity is a necessity.
MyNewCompany will check for this information in the state’s database and help you find available names before registering your company.
Free Compliance Alerts
If you are worried that you’ll miss compliance deadlines or forget to submit annual reports, this option will give you some peace of mind. Such MyNewCompany features can help you stay informed and keep your good standing.
Federal Tax ID Number
Also known as the Employer Identification Number (EIN), this code allows you to open a business bank account, hire employees, or pay business taxes.
It’s basically a Social Security Number for your business and it’s essential. It’s not included in the Basic package, but it’s certainly worth paying the additional $49 or upgrading to a more advanced plan.
Customer Support
Many MyCompanyWorks reviews describe the customer support reps as being informative, polite, and especially quick with their responses.
Our experience confirms as much. We sent a couple of queries during business hours and got informative and polite replies the same day.
You can contact them from 7:30 am—4:30 pm PT, Monday through Friday. Unlimited phone and email support is available with all paid plans.
Registered Agent Option
This is probably MyCompanyWorks’s biggest downside. Acquiring a registered agent costs $99 per year and it’s not included in the first two packages.
Even with the Complete Package, you only get the free registered agent for one year. After that, you have to pay an additional fee.
Still, the business packages come with tons of useful services. We will look more deeply into what they have to offer in the next section of our MyCompanyWorks review:
Plans & Pricing
Now that we’ve outlined some of the core services that MyCompanyWorks provides, along with some useful additions, it’s time to analyze what each business plan offers and for what price.
But first, it is important to note that while the costs listed below are valid for most states, they might vary slightly depending on the location. State fees also differ significantly.
This plan is the equivalent of an entry-level package, but it contains many helpful services, such as LLC formation filing, personalized organization minutes, unlimited phone and email support, and same business day processing, among others. It also includes the Startup Wizard—a unique MyNewCompany service that helps you manage your formation documents.
This is the most popular choice among MyCompanyWorks users. It includes all of the Basic plan’s services, plus the possibility to obtain an EIN without the hassle of acquiring one from the IRS. Other handy features in this plan are the LLC kit and seal and access to MyCompanyForms™. You can find out more about the latter in our FAQ section below.
The biggest advantage of this plan is that you get the registered agent service for one year for free. After that, you have to pay a fee for this option, which is affordable ($99) compared to other online formation services. It also comes with a Business License Compliance Package, free tax consultation, and free domain name for your company. In fairness, registering a domain name doesn’t cost much but the rest of the services are excellent!
Support
MyCompanyWorks has one of the best customer support teams in the business.
The quality of the service has been praised in numerous MyCompanyWorks reviews from 2022. Users emphasize the crew’s friendliness and their quickness in answering clients’ questions via phone and email.
We at Web Tribunal can testify that the reps are also well-mannered and informative, according to most users. Our queries were addressed quickly and politely.
MyNewCompany customer service is also easy to find. You just have to click on the “Help” option on the navigation bar and go to the “Email or Call Us” page.
There you’ll see a detailed FAQ section, an email submission form, and the company’s phone number and office location. MyCompanyWorks HQ is in Las Vegas, Nevada.
The only downside of the service is that their working schedule is slightly shorter than other LLC formation providers—7:30 am to 4:30 pm PT, Monday-Friday.
Ease of Use
The official website of the company, MyNewCompany.com, is a good candidate for the title of best LLC website. The platform is intuitive, user-friendly, and easy to use. It provides detailed information about the services and how to get in touch with the company.
MyCompanyWorks User Reviews
User opinions about the service are highly positive. From an impressive collection of thousands of online reviews, we’ve decided to outline the most relevant ones.
Almost all MyCompanyWorks reviews from BBB are positive—the overall rating is A+. Customers are generally very pleased with their experience, describing the process as “Quick & painless!”. They are particularly happy with the detailed explanations and step-by-step walk-through of the procedures the company provides.
We found only one complaint on the BBB website, describing the service as a “roll of the dice” without much detail about the reasons behind this. Such reviews are, frankly, useless.
Unfortunately, we couldn’t find any MyCompanyWorks reviews on Reddit, which might be because it’s less popular than other more renowned entities, such as LegalZoom or IncFile. Common complaints are nearly impossible to find.
Is MyCompanyWorks Worth It?
MyCompanyWorks is certainly a good choice for small business owners who want to get going quickly, without the hassle of endless paperwork. The platform provides quick and easy formation filing, access to personalized corporate forms, compliance alerts, and all sorts of handy features a business owner can wish for.
The platform’s specialization is mostly restricted to LLC formation, according to some MyCompanyWorks reviews. This will only be an issue if you’re looking for extensive legal expertise. Of course, you can always choose a more affordable option with similar quality of services, such as ZenBusiness or IncFile. To decide whether that’s worth it, read the comparison of these options below.
Alternatives of MyCompanyWorks
Next up, we’ll put some of MyCompanyWorks competitors up against the Las Vegas-based company and see how well each of them measures up to the standard:
My New Company vs LegalZoom
In this battle, affordability is MyCompanyWork’s strongest weapon. Although the costs of their starter packages are similar, MyCompanyWorks offers more services for that price.
LegalZoom’s advantages are that it is more renowned and knowledgeable on legal issues compared to MyCompanyWorks, Inc.
MyCompanyWorks vs IncFile
In terms of who offers the best incorporation service, these two providers are fairly similar. The biggest difference lies in the registered agent option—included in all three IncFile packages with one year of free usage and only in the most advanced MyCompanyWorks plan.
MyCompanyWorks vs ZenBusiness
In this comparison, My Company Works is not quite up to par. However, this opponent is probably the toughest one: ZenBusiness is arguably the best choice for people who want to open an LLC. It also has the most complete packages with the best value-for-money on the market—$39 for the Starter package.
MyCompanyWorks vs Rocket Lawyer
To compare companies is to compare apples with oranges. While MyCompanyWorks aims to provide the best LLC service, Rocket Lawyer is famous for its noteworthy legal aid and competent attorneys.
Nonetheless, we can definitely say that, in terms of affordability, MyCompanyWorks has the edge.
Final Verdict
Our MyCompanyWorks review has shown that MyCompanyWorks is a good LLC formation provider that offers some of the most notable features on the market. For example, the Startup Wizard scores a lot of points with people who are forming startups. The free handbook that goes along with the LLC formation pack is also useful.
Overall, MyNewCompany pricing is affordable and it offers good value for money. Additionally, the free tax consultation can provide you with valuable insight into your potential tax benefits or other fiscal issues.
MyCompanyWorks is a well-rounded service with tens of thousands of happy customers. This becomes evident by the large amount of positive MyCompanyWorks reviews, including ours.
MyCompanyWorks is an incorporation service focused on LLC formation. It provides document filing, compliance alerts, access to incorporation forms, and much more.
Yes, MyCompanyWorks is legitimate and has helped over 60.000 thousand businesses to enter their respective markets since 2001.
With MyCompanyWorks, you can open a virtual office with a real estate address and your own suite in Las Vegas. Its phone number and email address are also included in the Nevada Virtual Office service.
The Premium feature is more of an addition to the main packages than a plan. It costs $99/year and provides premium services, such as annual compliance checklists (ComplianceLock™,) Business Entity Monitoring, and access to more business and tax forms.
This feature consists of 200 updated business and tax forms and is essentially created to ensure you will have all your important files in one place. You will find 5 GB of dedicated storage for your forms and several electronic certificates.
Given its experience and reputation, we can safely say that MyCompanyWorks is entirely reliable and trustworthy, as noted by lots of MyCompanyWorks reviews.
Unaware that life beyond the internet exists, Nick is poking servers and control panels, playing with WordPress add-ons, and helping people get the hosting that suits them.