Introduction
For decades, businesses operating within the U.S. have used the Limited Liability Company to shield personal assets effectively. An L.L.C. offers protection from personal liability for your business’s debts and claims.
Since they use the L.L.C. assets to pay off any outstanding debts, owners stand to lose only the amount they’ve invested in the L.L.C. State governments extend this protection to encourage investment which in turn bolsters the locale economy and benefits the society.
However, to obtain the protection guaranteed under corporation and L.L.C. laws, your business needs to abide by the strict LLC formation statutes. Thus, seeking out professional legal service during company formation is prudent.
Apart from offering you legal protection, there are other immense benefits to running your business as an L.L.C. instead of a sole proprietor.
You can easily access funds to grow and expand your business, gain legitimacy in the public’s eyes, pass through Federal taxation on profits, flexible management, etc.
As a small business owner, you must begin your business on a good note. Interestingly, L.L.C.’s are the most popular business entities in the U.S.; registering your small business as one lays a solid foundation for your success.
Business incorporation can be a headache- particularly for first-timers. Fortunately, this is a field that online incorporation service providers such as Swyft Filings, MyCorporation, LegalZoom, Rocket Lawyer, and many others excel.
They handle all the heavy lifting from name searches, LLC operating agreement, registered agent service, filing all legal forms, E.I.N. applications, and much more, which frees you to deal with other aspects of your small business.
So, with so many LLC formation companies out there, how do you go about picking the right online LLC formation service? In this Corpnet vs. MyCorporation review, I shall highlight their features, strengths, weakness and ultimately determine the winner! This way, you can easily make an informed decision.
Remember to check for individual Corpnet review and MyCorporation review in my previous articles.
Without further ado, let’s get into what happens in an LLC formation company.
How to Form an L.L.C
Online L.L.C. formation service providers have in recent times grown in popularity. Apart from easing the process of registering your business, they tend to charge a fraction of what you’d have spent retaining an attorney.
Using these companies’ business formation service is simple and straightforward. You don’t need to be computer savvy. You can break the entire process into the following steps:
State for Registering your LLC
You need to pick a business structure you want to run. It can be a partnership, LLC, or any other corporation.
Assuming you’ve settled for a Limited Liability Company as your business entity, you have to figure out in which state you wish to register. Please consider factors such as workforce availability, rate of taxation, regulatory burden, and so on to help you with this.
Most entrepreneurs prefer to form L.L.C.s in their state of residence. It offers the convenience of working and living in the same state. Alternatively, others opt to go with more business-friendly states; these include Wyoming, Nevada, and Delaware.
Pick a Company Name.
The second step is to pick a business name and ensure it meets all the legal requirements. Each state has its own set of regulatory requirements. Fortunately, most L.L.C. formation service providers tend to offer FREE name searches.
Registered Agent Service
All 50 states require a registered agent for an L.L.C. formation. It can either be a person or a business entity. A registered agent is in charge of receiving any legal documents from the state concerning your business.
Articles of organization
For your business entity to be legally recognized and function, you need to file the business’ Articles of Organization. Also referred to as a certificate of formation, this legal document presents the preliminary statements you need to form an LLC in the U.S.
Operating document
Unlike its counterpart- Article of Organization- this one isn’t mandatory. Despite this, it doesn’t make it less significant. The Operating Agreement stipulates the ownership and operational rules of a Limited Liability Company. This legal document entails member rights, responsibilities, ownership, etc.
Apply for E.I.N.
An Employer Identification Number is a nine-digit number assigned by the I.R.S. It’s used in filing your business’ taxes, hire employees, open a business bank account, apply for a business credit card, get loans, and so on. You can apply for E.I.N. via the official I.R.S. website for FREE!
Corpnet vs. MyCorporation Review
Whether you operate a brick and motor store or run multiple online businesses, forming an L.L.C. is the best thing you can do. Corpnet and MyCorporation are two of the most prolific L.L.C. formation service providers in the market.
As an entrepreneur and small business owner, there are vital points that form the foundation of my decision-making process when picking a platform. In this Corpnet vs. MyCorporation review piece, I will be using seven points to gauge and rate each company individually.
Using these parameters, you will be able to see which platform is superior to the other. This way, you can proceed with all the confidence, knowing you are in safe hands. Here we go.
Experience
The more experienced a firm is, the better as it helps foster a sense of confidence in the firms’ business formation service capabilities. When in doubt, always go with the oldest firm. However, this isn’t the golden rule; it’s merely sound advice.
Why? Older firms tend to be less likely to innovate. Additionally, their services tend to come at a higher premium compared to their competitors. These are my thoughts and points of view, and here’s what I could find regarding both firms.
Corpnet
This L.L.C. formation service provider traces its roots back to 2008. The family-owned incorporation company assists entrepreneurs to register their businesses across all 50 states.
You can register as a Limited Liability Company, Corporation (S Corp and C Corp), Doing Business As (D.B.A.), Partnership, Sole-proprietorship, Non-profit, Professional Corporation.
According to C.E.O. and founder- Nellie Akalp, Corpnet has managed to help more than half a million small businesses establish themselves.
MyCorporation
For 23 years (founded in 1998), MyCorporation has helped new business owners form and maintain their business. It has managed to distinguish itself as one of the most highly sought-after online business filing firms with time.
At the time of writing this, the business formation firm has played a central role in forming over a million new businesses. In addition to incorporation services, the behemoth offers copyright registration, D.B.A. registration, registered agent services, trademark searches and application, and numerous other products/services.
Thanks to their lengthy existence and role in the opening over a million new businesses, MyCorporation bags the first point.
Packages
Being an entrepreneur, I must partner with an L.L.C. formation company that offers a means of setting up, running, and expanding my business- all under one roof. This way, I don’t have to worry about managing several platforms, which lessens the chances of errors and allows smooth operations.
Corpnet
Unlike most online business formation firms that offer L.L.C.’s, Corporations, Non-profit, and D.B.A., Corpnet offers other business entities. These include professional corporations, sole proprietorships, and partnerships.
However, considering we are focusing on setting up an L.L.C., we will look at the various offers. These are Basic, Deluxe, and Complete packages. Each retail at $79, $199, and $249 respectively. Please note that these amounts are exclusive of the state filing fee.
MyCorporation
Like its rival, MyCorporation offers similar business entities, but with the addition of “Benefit Corporation” as an entity. The business formation firm grants its clients access to 4 packages Basic, Standard, Deluxe, and Premium. They retail at $99, $124, $244, and $324 respectively minus the state fee.
All four packages come with payroll Processing, Free Domain Name, Logo Design, Business Bank Account, Business Checks, Customer Relationship Management, and Website Design.
Not only does MyCorporation offer more packages than Corpnet, but they are also more affordable and offer additional features, including access to MyCorp vault document storage. Hence, MyCorporation scores the second point in my book.
Features
While picking the ideal L.L.C. service firm, you need to have the ability to see through marketing stunts. Most companies will offer you “additional features” in an attempt to lure you in. But, unless they provide something essential to business incorporation, it’s all smoke and mirrors.
Remember, while forming a Limited Liability Company, you need Articles of Organization, E.I.N., Registered Agent Service, L.L.C. Operating Agreement, etc. If a filing company offers any or several of these features for free in their L.L.C. formation package, they are the winners in my eye.
Corpnet
All three L.L.C. formation packages come with a 100% satisfaction guarantee. In case you are not pleased with the filing services, you can reach out and claim your money. Please note that the amount will be minus the state fee as paid to the state and can’t be reversed.
A quick look at Corpnet’s entry-level package- Basic- it comes with free name availability checks. This process is vital as it reduces the chances of your filing being rejected by the state. Furthermore, you get access to Corpnet’s Corporate Compliance Tool: BIZ (Business Information Zone).
This corporate compliance concierge tool allows you to receive reminders for upcoming crucial dates such as tax and annual report filing. With B.I.Z, you can comfortably access all your official documents and print them straight from the cloud. Lastly, you receive official filed Articles of Organization.
MyCorporation
Before we proceed, please note that with MyCorporation, your session times out if the system notices inactivity on your end during the application process. Hence, it’s best to sign up then continue with the application process; at least you have to start all over.
So, as previously states, unlike Corpnet, LegalZoom, Rocket Lawyer, etc., MyCorporation offers four formation packages. As a new business owner, this offers you more choice and value. However, like before, we shall be taking a look at their entry-level package- Basic- to see how it holds against Corpnets’.
Right off the bat, all four packages come with unlimited customer support service. Like its competitor, MyCorporation offers Articles of Organization plus unlimited access to Business Documents, including sample Minutes, Operating Agreement, and Membership Certificates.
The firm also offers free Name Checks to determine the availability of your L.L.C. business name. The Basic package grants you access to MyCorp Vault Document Storage, where you can store, access, and share all corporate and business documents in one place.
Despite starting the race slower, Corpnet scores a point when it comes to their packages. They are affordable and offer more bang for your buck. You get FREE Registered Agent Service- though for 6o days on the Basic package and one year across the Deluxe and Complete packages.
Additionally, Corpnet charges $69 to obtain the Federal Tax ID, and MyCorporation charges $79.At the same time, MyCorporation charges more in comparison Corpnets $89.
Support Team
As a business owner, you know that things are bound to go wrong at some point. It’s only a matter of when not if. Thus, you need to ensure that you partner with a firm that’s reliable and professional.
You need to know that you can get the much-needed help at any time of day or night. Communication needs to be easy to ensure a seamless operation.
Corpnet
You can get in touch with the team via phone.
Toll-free: 1.888.449.2638
Direct/Int’l: 805-449-CNET (2638)
Please send an e-mail to
Information: info@corpnet.com
Sales: sales@corpnet.com
Customer Service: customerservice@corpnet.com.
If you prefer sending mail, you can address it to:
Corpnet, Incorporated
32416 Agoura Rd. Suite 118
Westlake Village, CA 91361
For your convenience, you have the option of communicating with the company via social media. You can find them on Facebook, Twitter, and YouTube.
MyCorporation
You can reach out to MyCorporation via Phone. Call them on 1-877-692-6772.
Additionally, send your mail to
MyCorporation Business Services, Inc.
26025 Mureau Rd, Suite 120,
Calabasas, CA 91302
You can also contact the support team through an online form available on their website. You can find MyCorporation on online platforms like Facebook, Twitter, YouTube, Linked In, and Instagram. For more information, you can also visit their blog for regular content and updates.
Customer Review
Reviews play a crucial role in most people’s decision-making process. Up to 90% of shoppers tend to look through reviews before making a purchase and for a good reason.
Taking your time to go through what others have to say about a product or service is a sure way of lessening the chances of disappointment.
Fortunately, multiple third-party agencies can help you with this. Additionally, you can go through their social media pages to feel the company before retaining their services. Here’s a sample of what some had to say.
Corpnet
TrustPilot
MyCorporation
TrustPilot
Products/Additional Features
Top business document filing firms like LegalZoom and Rocket Lawyer offer a suite of carefully crafted tools, features, and products. This way, you can comfortably establish, grow and expand your business.
Rating
Thanks to third party platforms like TrustPilot, it’s possible to have a look at how well a company performs. Here’s how the two perform:
Corpnet
Trustpilot
From 452 reviews, Corpnet manages to score 4.9 stars, with 98% of the reviews being positive.
MyCorporation
TrustPilot
MyCorporation manages to score a rating of 4.4 stars from a total of 214 reviews. Of which, a total of 89% being positive. Thanks to the overwhelmingly positive reviews and a superior rating, Corpnet scores another point over Mycorporation.
Corpnet
Start a Business
Are you looking to start a new business? Take advantage of Corpnets numerous products and services to establish your new venture. These include:
Free Business Consultation
Can’t decide on which business entity best suits you? Don’t worry; Corpnet offers FREE business consultation to assist you in making an informed choice. There are no costs or obligations on your end.
Reverse Business Name
If you have a unique, catchy name and would like to have it for yourself, Corpnet can help you save time, money, and headache by reserving the name. You can always use it at a later date. The standard waiting time is between 7 to 10 days.
Business Licenses
Forming an L.L.C. is essential; however, that’s just the beginning of the journey. In some cases, you may need to apply for various business licenses before opening your doors. For $149, Corpnet will handle the research on all the permits and licenses you’ll need.
Register for Sales & Use Tax
Both non-profits and for-profit businesses need to register for sales and use tax in the U.S. Any company that fails to comply with the relevant collection, reporting, and payment regulations could face hefty penalties, including having their licenses revoked.
Register for Payroll Taxes
If you are looking to hire additional staff, you’ll need to register for payroll taxes. They are mandatory in the U.S. To avoid government audits, you need to track and report all payroll taxes on time. Corpnet will help you remain compliant across all 50 states for $199 per application.
Conduct a Trademark Search
A trademark includes any name, sign, symbol, word, or device used commercially to distinguish one company from another. Corpnet can help you search the Federal Trademark Database and return exact results for your review.
Federal Trademark Application
Starting at $299, you can register with the U.S. government trademark protection agency. Doing so is beneficial in that you get treble damages if you don’t adhere and a smooth process for securing domain names on social media.
Secretary of State Filing
Corpnet ensures to remain current with the ever-changing laws across all 50 states. This way, you can rest assured your Secretary of State Filing will proceed efficiently and quickly.
Form an L.L.C.
Your choice of business entity has both legal and financial ramifications. One of the best ways of starting a business is by forming an L.L.C. It allows you to take advantage of the tax benefits and offer legal protection. Creating an L.L.C. with Corpnet is simple and straightforward.
Business Name Search
An application may get rejected by the state if your choice of business name has already been taken. Corpnet offers FREE name search; this way, you can reserve and use it for yourself.
Register a Sole Proprietorship
This type of business entity is popular with freelancers and entrepreneurs, thanks to its simplicity of creation. By default, most states recognize a single owner business as a sole proprietorship. The owner is personally liable for the financial debts and legal issues regarding the company.
Form a Professional Corporation
If you are a professional, you need to consider forming a professional corporation. Like any other corporation, it offers you liability and tax advantages.
Form a Non-profit
As the name suggests, this type of business entity is popular with charities, educational, scientific, religious, and literary centers. The beauty about non-profits is that they operate tax-free and offer liability protection.
Run a Business
Every start-up aspires to grow and expand operations to new territory. To ensure corporate compliance with the State, Corpnet offers:
Business Filing
Any L.L.C. or Corporation needs to remain compliant with corporate requirements to stay in good books with the Secretary of State’s office. To do this, Corpnet can assist you with corporate filings in any State.
Business Compliance
You’ve successfully applied for your permits, and your L.L.C. status is out. Great! However, it would be best to remain compliant with the various state requirements to ensure you avoid any fines. Fortunately, Corpnet has all this in mind and is ready to help you stay compliant.
Annual Meeting Minutes
Corporations are expected to hold annual meetings. These meetings act as a record of the businesses’ annual meeting. Apart from Delaware, Nevada, Kansas, Oklahoma, and North Dakota, State governments require corporations to keep minutes.
File an Annual Report
All states, except for Alabama and Ohio, require businesses to file their Annual reports. Failure to submit the filing promptly may result in the assessment of penalties and fines by the state.
File a DBA
DBA name varies from the legal standing of the business. It is a name the company wants to use while dealing with customers and marketing itself to the general public. D.B.A. ensures you remain in good standing with the government and offers a degree of anonymity.
Articles of Amendment
If a business makes any adjustments to an existing corporation or L.L.C., most states require an Amendment to be filed. They state the changes made within the business’s organizational structure.
Change a Registered Agent
Changing Registered Agent is simple with Corpnet’s business experts. They will save you time and money by handling all the compliance filing across all 50 States. There’s no need to research anything.
Bulk Registered Agent Services (across all 50 states)
A registered agent needs to be available at all times of the business. One of the requirements while applying for an L.L.C. Corpnet charges a flat fee of $149 per year for this service. Additionally, it offers competitive pricing for multiple entities and years of service.
Close a Company
For one reason or another, you may need to close a business. You need to ensure that you execute this appropriately to avoid any potential fines or potential legal issues. Corpnet can help you dissolve any company, file your last tax returns, cancel any business permits and licenses.
Certificate of Good Standing
Every often, an L.L.C. or corporation may require a certificate of good standing with their state of formation. The purpose of this document is to prove that your business is compliant with all the State requirements.
Reinstatements
A reinstatement is a filing with the Secretary of State to officially bring your L.L.C. or Corporation back into good standing with the government. To do this, Corpnet will file for “Reinstatement” for the company.
Foreign Qualification
Suppose your business is incorporated in one state but is conducting its activities in a different state. In that case, you may need to file for Foreign Qualification in the state where the transactions are taking place. This way, you can conduct business in multiple states, and it permits you to open a bank account in that new state.
Annual Compliance Checklist
Running a business takes a lot of energy; as such, it’s easy for you to forget compliance. You are legally obligated to inform the state of any changes that happen in your business. Making use of Corpnets’ annual compliance checklist ensures you are in compliant with the state regulations.
S Corp Election
A corporation can avoid double taxation by electing to be treated as an S Corp. S Corporations are generally exempted from the Federal Income Tax.
MyCorporation
Start My Business
Federal Tax ID
An Employer Identification Number is required to hire employees, open a bank account, establish a credit profile and file your business’s taxes.
Business licensing
Most businesses require some form of license or permits to operate within a State. Please note that these vary from one state to another. For $149, MyCorporation will search for all the necessary permits and licenses.
Registered Agent Service
A Registered Agent is part of the requirement while forming a Limited Liability Company. You can either be an agent by yourself or outsource the service to a third party.
S.U.I. and S.I.T. Withholding
If you are thinking of hiring employees or already have them, you must pay unemployment tax on their wages. For $150, MyCorporation’s S.U.I. service will help you obtain an S.U.I. number from the state, thus saving you time, cost, and the hustle.
S Corporation Election
S Corporation elections are tax-related filings that tell the I.R.S. that the business would like to be taxed as a partnership rather than a Corporation. The aim of doing this is to avoid taxation at a Corporate level.
Website Design
As a business, operating a blog or a website offers a fantastic way of marketing your products or services. MyCorporation works hand in hand with the Deluxe logo creator to help an entrepreneur come up with a stunning business website.
Logo Design
Create professionally looking logos for your business for as little as $39. Craft great-looking logos you can use for your website, business cards, social media, and so on within minutes.
Free Business Consultation
Creating a new business can be exciting. It also comes with immense responsibilities, which can be a bit intimidating. As you prepare to take the great leap as an entrepreneur, MyCorporation offers advice free advice during a consultation.
Financing Center
Are you looking to open a business but face a capital shortage? Don’t worry, MyCorporation could refer you to Guidant financial to help you with this. Pre-qualify for business funding within two minutes.
Your search results include:
- Maximum funding.
- A list of funding options.
- A comparison chart of your pre-approved programs.
L.L.C. Operating Agreement
A Limited Liability Company Agreement is an agreement among the L.L.C.’s members. It defines how the L.L.C. will function, provide details about the business and rights and duties of an L.L.C.
Run My Business
Foreign Qualification
Before crossing state lines to conduct business, you must file for a Foreign Qualification, which permits you to operate within the state.
Dissolution
If your business has run its course and it’s time to shut down for one reason or another, you need to file articles of dissolution.
Certificate of Good Standing
Also known as “Certificate of Facts,” this one-page document provides the necessary evidence that your business complies with the state that issues the certificate.
Withdrawal
Filing for a withdrawal is a formal means of letting the state know that your business no longer operates within the states. It relieves you of any further obligations, such as paying taxes.
Reinstatement
MyCorporation can aid you to reinstate your business with the state as soon as possible. The firm will help you determine fees owed to the state, complete all the necessary paperwork, submit the paperwork and notify you once the entire process is done.
Amendments
A certificate of Amendment allows you to make changes to the business with the Secretary of State. Good business practice dictates that you inform the state of any changes with the company. Failure to do this could result in penalties.
Initial Report
A few States require newly created businesses to file an Initial Report with the state within a few months of commencing operations. MyCorporation takes care of the paperwork to ensure correct timing and filing.
Stock Certificates
Having stock certificates makes it easy for you to raise money. They represent a portion of ownership of a company. MyCorporation provides L.L.C.’s corporate share certificates to suit your businesses’ needs.
Member Certificates
These certificates validate the membership of a limited liability company. MyCorporation makes the entire process of issuing membership certificates easy.
Corporate Resolution
This written document is created by the L.L.C.’s board of directors, acting as a binding corporate action. The board appoints executives, helps set policies, and provides oversight of the L.L.C./Corporation.
Payroll
Running a payroll can be tricky, especially when it comes to tax season. MyCorporation has partnered with leading payroll providers to reduce the complexities and risks of running an efficient payroll.
Promotional Products and Apparel
MyCorporation offers you a means of marketing your Business via Deluxe. Effectively design a professionally looking D.I.Y. business website with ease.
Retail Packaging
Wow, your clients and make a first-time impression by purchasing retails packaging. It is an affordable yet effective means of creating brand awareness. To do this, choose a product that best suits you, upload your company logo, verify that the product appears correctly, and have your product shipped.
Apostilles
With the apostilles services, you can verify your documents for international use by authenticating your public records. It includes documents such as a certificate of incorporation, certificate of good standing, affidavits, adoption certificates, and so on.
Pros
Corpnet
- True to their word, the use of the platform is easy and straightforward. Basic computer skills are sufficient to use the dashboard.
- Their FREE Corporate Compliance Tool: B.I.Z ensures you remain in good books with the authorities. You’ll always have sufficient time for document filing.
- The free name search ensures that you get the name you desire. It also reduces the chances of having your filing rejected by the state.
- The firm has immense experience, having been in the industry since 2008. As a client, you have an advantage.
- 100% money-back guarantee. If you are unpleased with the service, you’ll have your money refunded back to you.
- As a small business, you get some of the best services at the most competitive price.
- Unlike LegalZoom, Rocket Lawyer, and MyCorporation, they offer FREE Registered Agent Service for up to a year on their Deluxe and Complete packages.
- Corpnet scores high, with 95% of their clients giving a 5-star rating.
MyCorporation
- The L.L.C. formation service provider has been in business since 1998. Over time, they’ve managed to play a role in creating over one million new businesses. That’s simply spectacular!
- They offer a slew of business products that are crafty in design to aid you set-up, run and grow your business-all under one roof.
- MyCorporation offers several means of reaching support, which is vital to ensuring you get the help you want when you need it.
- Getting started on the platform is as easy as 1,2,3. You don’t have to be a computer specialist to make use of the document filing firm.
- I like the fact that they include FREE Domain Name, Business Checks, Payroll Processing, Logo Design, Business Bank Account, Website Design, Customer Relationship Management across all their packages.
- MyCorporation has a stellar support team.
Cons
Corpnet
- They only offer Registered Agent Services for 60 days on their Basic package.
- Considering that the E.I.N. application is free, charging $69 for the same is kind of annoying.
- The firm’s turnaround period is uncertain. Some clients have had to wait longer than they had initially anticipated. In all fairness, this applies to any other L.L.C. formation firms, including LegalZoom, Rocket Lawyer, and Corpnet.
MyCorporation
- At $99, their Basic package is more expensive than Corpnets $79. Additional packages are equally costly, which limits the number of clients that can use their services.
- Sadly, unlike Corpnet that offers a 100% money-back guarantee, the MyCorporation refund policy isn’t straightforward and easy to understand.
- They don’t offer Free Registered Agent Services in their packages, unlike Corpnet.
Conclusion
In the end, both Corpnet and MyCorporation are fantastic L.L.C. formation firms. If you are looking for a nationwide incorporator, you will find that they are more than capable of setting up your L.L.C./Corporation/Non-profit or D.B.A.
They’ve been around for decades and have managed to register millions of new business between them. But, considering it’s a comparison article, and I have to pick an ultimate winner, I will go with Corpnet.
As you’ve seen in this Corpnet vs. MyCorporation review, the latter is slightly expensive than the former. Thus making aspiring entrepreneurs opt for Corpnet. They offer better filing and legal advice.
Though that doesn’t mean MyCorporation is a terrible company. If anything, their most significant selling point is that they have been around longer and have formed more businesses. Despite being the younger of the two, Corpnet has managed to name itself in a highly competitive niche.
Corpnet’s add-ons are more affordable than other competitors like LegalZoom, Rocket Lawyer, and MyCorporation. Hence, most start-ups and small businesses operating on a shoestring budget can manage to afford their incorporation services.
Lastly, please note that neither Corpnet nor MyCorporation can provide tax, financial and legal advice. They can’t substitute your attorney.
F.A.Q.
In which state should I incorporate?
That entirely depends on you. Most entrepreneurs choose to incorporate in their home state. However, it’s best to look at your business model and pick a favorable State of your business kind. Most businesses choose Nevada and Delaware thanks to their conducive business environment.
Which is better, Corpnet or MyCorporation?
Both firms are incredible in their way. They have been around for a long time compared to other L.L.C. formation firms like Legal Zoom and Swyft Filings. It all boils down to your budget and the stage of your business. Still, you are better off going with MyCorporation when it’s all said and done.
What’s a Registered Agent?
Across all 50 states, businesses expect to maintain a Registered Agent as a condition of maintaining their license. A Registered Agent is an individual or entity that acts as the point of contact between you and the state. They are in charge of receiving any official government communication and relaying it to you.
What’s E.I.N., and why do I need it?
Employer Identification Number is a unique 9-digit number issued by the I.R.S. Think of it as your business’ social security number. It’s essential as it is used in filing your taxes, hiring employees, payroll, open a business bank account, and much more.
How soon can I expect to receive my certificate of incorporation?
There’s no straight answer to this. Several factors could influence the speed at which the entire process takes; this includes the states you file your documents. On the other hand, if you are in a rash, most L.L.C. formation firms offer a means of expediting your filing. There’s a catch, though, you need to pay for the service.
Can I register the business by myself?
Absolutely! You can opt to go with the D.I.Y. alternative, but in the end, it’s always best to leave it to the experts. There’s no need to cut corners, especially when you consider that these online filing firms are already cheaper compared to retaining an attorney.
How can I pick the right L.L.C. firm?
Like most things in life, you need to educate yourself first; this means learning what is necessary to form an L.L.C. or corporation. This way, you know what to look for; additionally, when possible, go with a firm that offers a money-back guarantee.
Can I apply for my own E.I.N. number?
Yes, you can. It’s free. All you need to do is to visit the official I.R.S. website and apply for one. This will goes a long way into saving a bit of cash.
Are online incorporating firms legal?
L.L.C. formation firms such as Swyft Filings, LegalZoom, Rocket Lawyer, Corpnet, and many more are dully certified to assist entrepreneurs set up new businesses. So, using them is perfectly legal. However, you can’t use to substitute your regular attorney.
Can I incorporate a business even if I’m not an American citizen?
There are no laws that forbid foreigners from opening a business within the U.S. even if they are not American citizens nor hold a green card. For further assistance, get in touch with either Corpnet or MyCorporation.