When starting a company, you have a lot to consider in terms of costs and processes involved. The United States federal government – as well as individual state governments – will impose several significant requirements on you, and you need to ensure compliance with them all before you can launch your venture.
It is especially challenging when you want to establish a presence in other states – whether from the onset or after you’ve seen considerable growth. Expansion requirements can be pretty significant, and you need a service that can help you with compliance in the most convenient way possible.
This is why you have MyCompanyWorks – an LLC formation service that focuses on simplifying the process of starting and incorporating a business. MyCompanyWorks prides itself on its affordable and fast service, and it has a rather extensive track record to show for it.
MyCompanyWorks started in 2001 and is based in Las Vegas, Nevada. The service began operating under the name “MyNewCompany,” but they soon rebranded. However, the mission of helping to simplify the process of starting a company never changed.
In this review, we will dive deep into MyCompanyWorks and its unique value proposition and where it shines and the areas that it might need to do a little more work to be the best. Let’s get into it:
MyCompanyWorks Pros and Cons
- A uniform service: Users get the same service speed and priority, regardless of the service tier they choose.
- Legitimacy guarantee: MyCompanyWorks has been operating for two decades now. Definitely, that should give the company enough credence as far as legitimacy goes.
- Optimal customer support: MyCompanyWorks answers customers in good time, and they have an extensive customer service arm.
- Exhaustive services: MyCompanyWorks does a pretty good job of including everything you need across its service tiers.
- Not the cheapest service: While MyCompanyWorks does an impressive job, the service sadly doesn’t offer the most cost-effective price. If money is your most prominent factor, you should be able to find other services that provide optimal value for your money.
- Restricted registered agent service: You can only find the registered agent service – one of the most critical services for any aspiring firm – in the Complete package. That isn’t quite good enough.
While the cons are pretty considerable, MuyCompanyWoirks still earns top marks across the board. If you value quality service, they’re definitely the company to help you out – although it will cost you some.
MyCompanyWorks Formation Packages
MyCompanyWorks comes with three pricing packages, all based on what you want and the state where you would like to incorporate the LLC. These tiers include
- The Basic Package
- The Entrepreneur Package
- The Complete Package
Below is a breakdown of the service tiers and what they offer you:
1. The Basic Package
The Basic Package will cost you $79, excluding the state fees that are changed based on where you want to establish the company. Under this service tier, you get the following:
Articles of Organization
The articles of organization are perhaps the most important document you will need when starting out your business. They outline all essential information about your business, including and especially the operational mode and how you expect to run going forward. Your state especially requires articles of organization, and you can’t form an LLC without them.
Amongst other things, these articles will outline your company’s duties and powers. They also show each partner’s liabilities and the responsibilities of the LLC to its customers and partners.
Given how important they are, you can see why you will need to get the articles of organization right before you file and get your company started. MyCompanyWorks will ensure that you have all the help you need to file the articles of organization. The service will also help you with your filing, ensuring that you are safe and can get things done conveniently. From filing to submission, MyCompanyWorks is there to help you out.
Name Availability Search
You should know that you’re not the only company looking to start offering your specific service. Many other entrepreneurs also believe that your offering is an excellent opportunity to make some money, and there’s every probability that someone has even chosen your name – or a name you hope to use.
A lot of companies operate under the radar. Some might even register, but the fact that they’ve not grown to a considerable level means that you might not know them. MyCompanyWorks will help clear any confusion by checking through the state’s business database to see if your desired business name is already in operation or if it’s still available.
The last thing you want is a lawsuit or a naming dispute with some other company as soon as you get your operations off the ground. MyCompanyWorks will help save you from this headache.
LLC Operating Agreement
Like the articles of organization, the operating agreement is another significant document that you need to keep in mind. It is similar to the articles of organization in that it provides information about the situation and terms surrounding the formation of your business.
The operating agreement shows the company’s directors and their duties to workers and customers. It also highlights some of the firm’s financial and operational relations. Relationships are properly spelled out, providing a clear view of each party’s responsibilities and obligations. Another critical detail in the operating agreement is the line of succession, which points out who will take charge of the company if you have to step down for any reason whatsoever.
It’s easy to see the significance of the operating agreement as well – and how challenging it might be to draft and submit it. Thankfully, MyCompanyWorks is here to take the stress off your shoulders as well. Send them the information about your establishment, and the service will help with drafting and submission.
While it is not a critical requirement, this could come in handy at some point in the future. When you begin to run shareholder meetings and other business gatherings, you will be required to take minutes of your meetings. Often, these minutes are used for reference purposes – perhaps there’s a legal case in the future, and attorneys will need to point out certain issues that were discussed at a point in time.
MyCompanyWorks can help you with effective minute recording, ensuring that you have a good reference to point towards in the future. The service will send custom minute forms to you, helping to make the process much easier.
Phone and Email Support
There is every probability that you will need help even after MyCompanyWorks gets you the service you require and you’re ready to establish your company. This is why the service provides unlimited phone and Email support at all times.
The benefit of this is that some LLC formation services will only provide phone and Email support when you purchase higher-value pricing tiers from them. MyCompanyWorks supports everyone, ensuring that you can always reach out to them and see what they have for you at all times – even if you only pay for the Basic service.
When running a company, you do more than just cater to the smooth running of your operations. You also need to work and ensure compliance with the right laws and regulations. However, with so many regulations to keep track of, it can be pretty challenging to wrap your head around everything.
Thankfully, MyCompanyWorks will help you keep track of everything and ensure that you never miss a beat. The service will provide a nifty tool that will help you keep track of all compliance and filing deadlines. With MyCompanyWorks, you will be able to avoid any penalties that usually come with missing deadlines and falling short of compliance requirements.
Ideal for: Small business owners
Summary: The Basic plan is more than perfect for you as you start your venture and chart a course for effective establishment.
2. Entrepreneur Plan
The Entrepreneur plan is the intermediate pricing package available on MyCompanyWorks. The plan costs $199 in addition to the regular state fees.
With the Entrepreneur plan, you get everything that’s available in the Basic plan. You also get the following:
Federal Tax Identification Number
Also known as the Employee Identification Number (EIN), this is a number given to every company in order to help them make tax filings and reports to the Internal Revenue Service (IRS). Think of the EIN as you would your Social Security Number (SSN). You will use it when filing your taxes, and the IRS will need to have it on hand if they want to grant you tax returns or something else.
Beyond tax filings, you will also need the EIN to open a bank account, hire employees, and do many more advanced business entity practices. Since you will need your EIN for the long haul, it is only fitting that MyCompanyWorks helps you to get it. This will save you a great deal of time and effort – no one likes to deal with the IRS.
LLC Kit and Seal
Primarily, the LLC kit and seal is a binder that has your company’s name and details printed on it. The entire package comes with a decorative seal on which your company’s logo and name are written. You can use the LLC kit and seal for several things, but the primary function is to stamp some of your official documents.
If you’re trying to close a deal or send out official documentation of any kind, the LLC kit and seal will definitely work well for you. It provides an official look, allowing you to bolster your reputation as a reliable brand.
You get the LLC kit and seal with MyCompanyWorks as well.
MyCompanyForms Business Forms
This is a bespoke package for MyCompanyWorks’ customers. Here, you get a full-service library containing over 200 sample forms that can help you operate. These forms vary in use and application, and you can get a great deal of utility from them. You can customize them as you please, and you get optimal versatility in the application.
If you like to improve your compliance and easily send out forms, this service will undoubtedly come in handy.
Ideal for: Medium-sized business owners
Summary: The Entrepreneur package is ideal for any company that is beginning to grow – or small business owners with a clear strategy for quick and rapid expansion.
3. Complete Plan
The Complete package comes as MyCompanyWorks’ premium service offering. It costs $279 in addition to your state fees, and it comes with everything in the previous two service tiers. It also includes the following:
Registered Agent Service
There is no doubt that the registered agent is one of the most critical professionals you could have working for you. Every registered company in the United States needs a registered agent, as this is the professional that helps you carry out several compliance and legal tasks. From accepting summons and notices on your company’s behalf to filing reports, the registered agent is an indispensable professional that you need to have.
A registered agent can also help with filing critical documentation, including your company’s incorporation papers. When it comes to relations with the government, your registered agent will be your point person. With this professional, you don’t need to engage in any tit for tat with the government. Just sit back, relax, and let your registered agent handle the processes.
MyCompanyWorks can act as your registered agent. They help to handle every compliance issue and relate with regulators on your behalf. So, you don’t need to worry about any of that.
Ideal for: Companies whose needs are beginning to expand as they look to try entering into new frontiers.
Summary: Like its name suggests, the Complete package provides everything you need to optimize your business and ensure that it stays functional – especially as you try expanding to other states.
Beyond what you get with all the pricing tiers on MyCompanyWorks, the service also provides several other offerings, which you can take advantage of individually. Some of these services include:
Managed Annual Report Service
MyCompanyWorks will also keep an eye on the progress you make with the required annual business filings that you need to do. This service is especially critical since you can face stringent penalties if you fail to meet up with deadlines or if your filings don’t meet specific requirements.
Given that filings and requirements tend to vary between states, you will need to be careful when working with them. Thankfully, MyCompanyWorks can help you keep an eye on the correct filings and ensure that you are straight in the eyes of the law. If you would like to avoid any late fees and other penalties, this service will definitely come in handy for you.
Business Entity Monitoring
Sometimes, having a watchful eye that keeps you in check and looks into your services can be pretty nice. This is especially true when you have just entered a new city and don’t exactly know many of the rules and regulations that play there. Instead of flying blind, you could get MyCompanyWorks to help you check out some significant business aspects that you’re running.
The service will essentially check in from time to time to ensure that you’re in good hands and you’re not flouting any rules. Think of MyCompanyWorks as your guardian angel. They will alert you if something seems wrong and provide effective tips on how to rectify these issues.
E-Ledger and E-Certificates
We live in a world where many business entities and operations are moving to the digital space. Every aspect of the company operation template is now running online or via some digital tool or the other, making way for greater efficiency across the board.
MyCompanyWorks understands this, and the service has provided a reliable platform for you to incorporate the digital world into your taxation and certification processes. Thanks to the e-ledger feature, you no longer have to rely on spreadsheets. You can move your ledger requirements online with the use of a simple and straightforward ledger tool.
The e-certificate feature pretty much does the same thing. You get access to a beautifully designed PDF that lets you send out certificates and other official documents quickly and efficiently. Say goodbye to paper certificates forever!
With an impressive lineup of services and a flexible pricing package, there is no denying that MyCompanyWorks is one of the top LLC formation services. However, no company is perfect – MyCompanyWorks certainly isn’t.
If you’re looking to get a different service, we recommend trying ZenBusiness. Located and based in Austin, Texas, ZenBusiness is one of the most impressive LLC formation services out there. The service is much newer than many other ones in the market, but it has managed to carve a niche for itself. Like MYCompanyWorks, ZenBusiness also does well enough to combine impressive services with an affordable pricing structure.
Amongst other things, ZenBusiness offers a worry-free guarantee, which covers your annual reports and other services. This will give you enough freedom and leeway to focus on other services.
MyCompanyWorks Customer Reviews
It’s understandable if you feel a tad skeptical about MyCompanyWorks and how they operate. Given how much they claim to help with and the significance of these services for your company’s establishment hopes, you want to ensure that you’re working with a company that knows what they’re doing.
We checked for qualified reviews on MyCoimpannyWorks and found quite a few. The service scored a respectable 4.6 stars on Google Reviews, with several people commenting it for helping to simplify the process of establishing their businesses.
With a bevy of positive reviews, you should feel much more comfortable working with MyCompanyWorks now.
Should You Start an LLC With MyCompanyWorks?
MyCompanyWorks is undoubtedly a reliable service from all perspectives. The pros outweigh the cons, and you should be able to enjoy a rewarding experience with the service.
However, if you still have some reservations about the service, here is a simple guideline that can help you make a better decision viz a viz whether to work with them.
Work With MyCompanyWorks
- A guiding hand to help you through the incorporation process
- Proper and quick communication with your LLC formation service
- A customized operating agreement
Don’t Work With MyCompanyWorks
- The service isn’t the cheapest of the bunch
- You need more advanced features
Like every LLC formation service, MyCompanyWorks comes with the bad and the good. The service has one of the best track records in the industry, so you at least know that you’re dealing with an established company that is dedicated to helping you out in any way possible.
The primary benefit of MyCompanyWorks is its encompassing customer service. The company answers customers very quickly, ensuring that you don’t have to wait for so long before you can have a problem fixed. This makes MyCompanyWorks especially great for entrepreneurs who require guidance and assistance throughout the incorporation process.
However, the service’s major drawback is that its services are still a bit more expensive than several of its competitors. So, if you’re trying to start a company and you don’t have so much money, MyCompanYWorks might not be the ideal service for you.
While you’ve always got to take the bad with the good, it goes without saying that there’s much more good with MyCompanyWorks than there is the bad. The service has several impressive reviews online, showing credence to its efficiency and range of performance. In general, MyCompanyWorks is one for the money.
Frequently Asked Questions (FAQs)
Is MyCompanyWorks Legitimate?
MyCompanyWorks is definitely legitimate. The service has been available for two decades, and it has helped thousands of entrepreneurs to start their businesses and get off the ground. You can also go online to find several positive reviews about MyCOmpanyWorks, showing that the service delivers on what it promises.
So, everything points to the service being legitimate.
Are There Any Discounts on MyCompanyWorks?
MyComputerWorks provides some discounts and programs that can help you get impressive savings on your purchases. If you’re interested, you can join the service’s affiliate program and partner program to get access to some bonuses and benefits.
You can also keep in touch with the company through its website and customer service channels to get more information about its offerings.
Is There a Refund Policy on MyCompanyWorks?
MyCompanyWorks handles a refund policy. However, there are conditions to the service.
Depending on the status of your order when you implemented the refund request, you will be able to get your order amount. However, MyCompanYWorks will subtract a processing fee – which could be $254, $50, or $75 based on your selected service tier.
Note that refunds are no longer available as soon as MyCompanyWorks ships your documents to the state authorities.
Can I Form an LLC Without Being in the United States?
Yes, you can. Federal and state laws in the United States permit anyone to open and set up a company, regardless of where you’re from. In fact, you don’t have to physically be in the United States to set your corporation up. As long as you have the proper paperwork and you’re not wanted for any criminal activities anywhere, you can come to the United States and set your company up.
MyCompanyWorks has a separate section dedicated to international entrepreneurs. So, if you’re abroad and would like to set up a corporation, you can contact them.
Does MyCompanyWorks Handle Extra State LLC Formation Requirements?
Yes, the service does. MyCompanyWorks is versatile enough, and they have all the information required for you to set up a branch of your corporation in another state. If you feel like the time is right for you to expand your service offering beyond state borders, all you have to do is contact MyCompanyWorks, and they’ll be able to help you out.
How Do I Contact MyCompanyWorks?
One of the primary benefits of MyCompanyWorks is the service’s ability to provide adequate customer service. You can get in touch with them through various means, depending on what you need.
If you’re a new customer and you’ll like to know more about how MyCompanyWorks operates, you can find some answers on the service’s Help Center and FAQs page. You can also contact the service via the following channels:
- Email: There is a simplified Email contact form on the MyCompanyWorks website. Email support is available from Monday to Friday between 7 AM and 5 PM PST.
- Phone: Call MyCompanyWorks on 800-326-1362 and 702-362-2677. You can call from Monday to Friday between 8 AM and 4 PM PST.
- Address: If you’re in Las Vegas, you can visit the MyCompanyWorks offices at:
187 E. Warm Springs Rd.
Las Vegas, NV 89119
Does MyCompanyWorks Share My Information With Third Parties?
You will be able to find some “special offers” on MyCompanYWorks that involve sharing your details with some of its third-party partners. If this is a concern for you, it is possible to simply let MyCompanyWorks know that you won’t want to opt into any special offers.
Does MyCompanyWorks Have Any Upsells?
Compared to several other LLC formation services, MyCompanyWorks doesn’t have so many upsells. The service doesn’t bother you to purchase additional services that could drive your expenses up even higher.
You can find optional add-ons on the website, but the service won’t badger you to purchase them.
Besides LLC Formation, What Else Does BizFilings Do?
Unlike some of its competitors, MyCompanyWorks doesn’t have such a lengthy list of additional services. The service can help you with things like foreign qualifications, annual reports, and it can also help you handle a business dissolution.