ZenBusiness vs. MyCorporation Comparison

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Introduction

Technology has taken over the tedious paperwork associated with business formations. Owning a business is an easy way to have significant financial stability, but we know it comes with its fair share of difficulties. New online business formation service providers have emerged, making the work easier. With the present digital world, there should not be hustles on how to register your business.

The digital platform provides business owners with new terms and ways of achieving that much-needed freedom of being their boss.

Embracing the online world is a great way to achieve great miles in business. Any idea you have today can translate into a multi-million empire if you embrace and positively use technology.

Looking back, the amount of time you required to register a company was a lot, and the series of paperwork almost made you give up. I cannot forget to mention the amount of time wasted moving up and down. All this is in the past, thanks to technology which has brought new hope to entrepreneurs.

Where you have a great business plan, the feeling of starting your own LLC company is overwhelming. It would be best to have an experienced attorney to help you with the difficult registration process. But we all know how much they charge. Are you ready for hourly rates? I bet no.

In this regard, let us check the online business formation companies that help entrepreneurs register their businesses from the comfort of their homes. They help create corporations such as S Corporation(S-Corp) and C Corporation(C-Corp), and limited liability companies. Other services they offer are business name registration, registered agent service, and business formation plans. There are even those that offer legal help in case a business is faced with trouble with compliance.

A registered company becomes a legal entity and is more credible and trusted for business dealings. That includes trust from supplies and customers. As a business owner, you are protected from any damages arising from the company’s day-to-day operations.

In this review, we will look at ZenBusiness vs. MyCorporation regarding the services they offer, pricing, customer response, and if they provide the expected compliance for formation.

You can also check the comprehensive independent ZenBusiness Review and MyCorporation Review to help you learn more about the services they offer.

Background

As a new business owner, you need to put a lot of effort into setting up your business. The state laws govern the area you need to keep in mind and adhere to as you set up your business. Each of the fifty states has a law that regulates the operation of new and already established companies. Complying with the regulations will see you run the business smoothly without pressure or avoiding the law enforcers.

Thus, online business formation companies help in setting up a well-compliant business environment. The tedious process is made easy while observing the set laws. Costs and charges such as the attorney’s fees are minimized since you get services as a package. You will also save a lot of time, which you could have used moving from one office to another.

ZenBusiness and MyCorporation are two of many corporations that assist in company formation. Their online services have easy step-by-step guidelines and tailor-made services that are fit for small business owners.

A registered business saves you, as the owner, from the liabilities associated with the company. That means that the company’s debts and obligations remain with the company. You can only contribute to the extent of your investment, and your personal assets remain untouched. When a company is registered, it becomes an entity on its own and bears the liability responsibility. With so many risks involved while doing business, you will not be liable for any loss on a personal level.

ZenBusiness

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ZenBusiness is a popularly known LLC formation company. Having been found in 2015, the Texas-based company has seen the growth of numerous businesses. It offers services for both new and existing businesses. Whether it is registering, running, or managing the business, ZenBusiness got you covered.

Its popularity has grown mainly due to its special and affordable features. The pricing of the LLC formation package as compared to other companies gives it an added advantage.

Pricing

From the three packages they offer, you can choose the one that fits your type of business entity’s needs. With ZenBusiness, you will get the best services at an affordable price.

Below is a brief description of the packages they offer.

1. Starter Package

The $49 package is billed yearly and includes a free registered agent service for one year. After the end of one year, you will pay $119 annually for the agent service.

The services you receive include:

Standard Filing
Preparation of Articles of Organization,
Registered Agent
Operating Agreement
100% Accuracy Guarantee

2. Pro Package

This package costs $199, which is billed annually. The pro package is the most popular of the three packages. The services offered here are:

Expedite Filing,
Registered Agent Services
Federal Tax ID Number
Banking Resolution Template
Operational Agreement
Worry-Free Guarantee
100% Accuracy Guarantee.

3. Premium Package

The premium plan costs $299, is billed annually, and is state-free. here the services you get are:

Rush Preparation and Filing Speed
Registered Agent Services
Banking Resolution
Operating Agreement
Employer ID Number (EIN)
Worry-Free Compliance
Business Domain Name Registration
Business Website
Business Email Address
100% Accuracy Guarantee.

Keep in mind that the above prices are exclusive of the required state fee payment, which is different in each state and is paid through the state secretary.

Why Consider ZenBusiness?

From excellent customer service, affordable plans, and convenient services for your business, ZenBusiness has cut a place as one of the best LLC formation service providers. They provide LLC creation services wit a lot of zeal. Read on to see the features, advantages, and benefits associated with ZenBusiness.

1. Registered Agent Services

ZenBusiness incorporation service has three business formation packages. Each package, inclusive of the starter package, has a free one year of registered agent service. If you have started a company, you will understand that such services are expensive. Many LLC formation providers’ plans do not, in often cases, offer a free registered agent service.

As an entrepreneur, it is eye-catching to find out that ZenBusiness has one of the most affordable incorporation packages. Having a free registered agent means that any correspondence involving the Secretary of State or any other agency is taken care of to ensure all documents’ privacy.

2. Operating Agreement

All the ZenBusiness LLC formation packages have an LLC operating agreement. The feature makes the plan’s overall value more attractive than any other available options in the industry. Having this service is a primary need for your LLC. It assures you that you will cover the company members’ ownership structure, duties and responsibilities, and other company’s specific needs.

3. Formation Speed Options

The type of plan you chose has a different processing speed. All the plans exclude the state filing fee and state filing time. The time taken for the formation process using the different plan differs, and thus, it is up to you to choose the time which fits you when forming an LLC through the expedited service to make sure your order is completed in good time.

The premium package has a fast turnaround time of 2-4 business days. If you select the pro plan, you will have up to 5-8 working days. While in the starter package, the time taken will be 2-3 weeks of processing.

4. Worry-Free Guarantee

ZenBusiness’s pro and premium plans have a worry-free guarantee, which is a service that allows the business to remain in good standing. The annual report service, such as annual LLC filing report alerts and compliance requirements, is made easily accessible.

Where you miss the submission deadline of any annual report, a requirement by law, ZenBusiness will take care of the costs. You are sure that your business entity will remain compliant. Other LLC formation service providers don’t have the worry-free guarantee feature, making ZenBusiness stand out as one of the best LLC service providers.

5. Customer Service

Customer care support is readily available. You can easily reach the customer support team through a phone call from Monday to Friday between 9 am to 8 pm. A real-time online chat is available too. There is an online Google form you can fill to ask any question and get feedback via email.

6. Easy Guidelines

The step-by-step guide is easy to use. So, planning your work and making the best out of the well-made service is easy. You don’t require expert guidance to fill in the required details.

7. Annual Reports

Each state government requires annual reports from businesses to be filed annually. As an LLC, if you fail to file your company’s annual report, your company will have to pay hefty fines, or you may end up with a revoked business license.

To ensure that you are safe, ZenBusiness assists you in filing the annual report promptly. With ZenBusiness LLC service handling your yearly information, your business will ever remain in good standing with the state.

Additional Service

ZenBusiness has a blog article of different incorporations from every state. As a customer, you will always be communicated with any amendments that are being made. They have a website with nice features and easy-to-follow steps.

MyCorporation

MyCorporation is an LLC service provider that has been in existence for the last twenty years. It has solved the problems of millions of people in business services. MyCorporation is one of the most popular providers of LLC formation service. Such businesses have seen significant growth and have an excellent standing.

MyCorporation will help you simplify the start-up process of your limited liability company, ensuring you stay compliant with the Internal Revenue Service. They provide quality services though the pricing is not a bit high. They provide excellent customer support and service, which means their customer satisfaction level is high thanks to the many positive reviews.

MyCorporation offers a wide range of services, including forming corporations, creating limited liability companies (LLCs), and offering document filing services. Other services they provide are business formation, business name search, federal tax ID, copyright, and trademark application.

Pricing

MyCorporation price point is categorized into four packages: Basic, Standard, Deluxe, and Premium packages, with the basic package going for $89 while the highest costs $324. These amounts don’t include the state fees.

1. Basic Package

MyCorporation’s Basic LLC Package is $99, which is inclusive of state fees. The services that this package offers includes :

Name availability check
Preparation and of Articles of Formation
MyCorp Vault Document Storage.

2. Standard Package

MyCorporation’s Standard LLC Plan costs $124 plus the state fees. Here you will enjoy these services, which includes:

Name availability check
preparation and of Articles of Formation
MyCorp Vault Document Storage.
A Registered agent service. (free for the first year and $120 after the lapse of one year).

3. Deluxe Package

MyCorporation’s Deluxe LLC Package total costs are $224, which has a state fee. You will enjoy the following:

Name availability check
preparation and of Articles of Formation
MyCorp Vault Document Storage.
US annual report service. (free for the first year, you pay $99 after the one year).

4. Premium Package

MyCorporation’s Premium LLC Package is the final package which costs $324 plus state fees. The services you get include:

Name availability check
Preparation of Articles of Formation
MyCorp Vault Document Storage.
US annual report service. (free for the first year; you pay $99 after the one year).
A free year of MaintainMyBiz ($250/year after the first year).

When selecting the right package for you, keep in mind what your business needs. A great plan will ensure that you avoid unnecessary costs by buying only what your business needs.

Why Choose MyCorporation?

MyCorporation offers online legal services and also focuses on initial business formation, paying business taxes, and ensuring total compliance for existing businesses.

Here are some of the features that make MyCorporation your number one online incorporation service provider.

1. Notable Features

MyCorporation has an annual business maintenance service, MaintainMyBiz, which costs $250/year. Once your LLC formation is complete, MyCorporation can assist in managing your new LLC using MaintainMyBiz. What you need to do is select the filings you need for your business. Once this is done, they will prepare them, file them, and wait whenever you’re ready.

You have up to sixteen products and services which are customized for you. You can either take all of them or choose the ones suitable for your business.

2. Customer Support

You can contact one of the customer support teams through a phone call during the weekdays. The business working hours will be Monday to Friday between 7:00 am to 5:00 pm. A real-time online chat is available. An online form you can fill where you can ask any question and get feedback via email.

3. Registered Agent Services

In all the packages, Registered Agent Service is not freely offered. You can only get the services by paying a sum of $120 billed per year. Where you select the Deluxe or Premium plan, you will get only one year of service free. Later the service will have auto-renews every other year.

4. Guarantee

The company will try to solve any guaranteed issue you raise as fast as they can. Where you show dissatisfaction even after they have reached out, you are given up to 60 days to seek a refund.

Any funds used for the services, such as application toward state fees, shipping and handling publications fees, corporate kit, are nonrefundable.

The webpage indicates that you can request a refund. If a customer puts an order on hold for more than ninety days, there will be no refund available. The only refund that you can receive is the state filing fees.

Factors to Consider when Choosing an Incorporation Service provider

1. Easy to use

With the struggle involved in the business, all you need is an easy-to-use platform. Choose the provider with a well-explained and easy-to-follow guideline in the process of forming your LLC. Avoid services that you are struggling to use. You will save time, money and have a less stressful moment.

2. Pricing

Always go for a service that is affordable while still giving you value for your money. Thus, analyze the different plans and packages available and choose the one that best suits your business’s needs. Most incorporation companies have three packages to choose from. Thus, understand what each offers before making your decision.

During check-out, it is good to confirm if there are discounts and coupons and if they are available, don’t hesitate to use them.

3. Customer Service and Support

A happy customer is a guarantee that your business is alive and in continuity mode. When you master the art of handling your customers with respect, your business will prevail. No one wants mistreatment. As customers, we all seek attention, be treated with respect, and find solutions to our problems.

Finding a company that cares about you creates a sense of confidence, and investing in such a company becomes easy. There is a level of trust build which is a big plus.

4. Additional Services

Any other essential business services should be made available. Services like a registered agent are not available for free in most incorporations service providers. But you can pay an extra coin for the same services and enjoy them if you find a company that offers such additional services as a package, the better.

ZenBusiness and MyCorporation Pros and Cons

ZenBusiness Pros

1. Quality Business Formation Service Under One Roof

ZenBusiness will take care of all your business registration, filing as per your state and offer all your needs inclusively. Thus, your business’s formation and filing process is well taken care of in a manageable, quick, and straightforward manner.

2. Different Add-on Products

With the range of services they offer, you don’t need to shop elsewhere. For services such as web hosting, registered agent services, business cards, and business name registration, then ZenBusiness is your one-stop-shop.

3. Pricing

ZenBusiness has a well-priced three-tier formation package. In all the plans, there is a thriving distribution of services. Their pricing model is straightforward. You can avoid the annual subscriptions and pay for one- time service.

4. Set of Alerts

A primary feature of the ZenBusiness formation package is the set of alerts available to the business owners. It reminds them to keep track of their records. With a recurring reminder, it is hard for a business to miss filing deadlines.

Ensuring that you meet all the form submission deadlines can be an uphill task since most of the Filing is done manually. Therefore, with ZenBusiness, they will keep track of you, leaving you with fewer needs to worry about.

ZenBusiness Cons

In consideration of the services, ZenBusiness has a few setbacks that are important to consider:

1. Provides the necessary support

ZenBusiness includes a range of not required or helpful features for most business owners, especially those looking for registration and incorporation documents. To find the right business credit card isn’t something many business owners want from their filing provider. Instead, they mainly consider getting the advice of a financial professional. Other features, such as domain name registration and web hosting, might be more affordable if done elsewhere.

2. The annual fee for registered agent services in the basic package

The one-year payment for a registered agent’s services in a basic-tier package is an essential service to have for most businesses. Asking buyers to purchase a recurring registered agent isn’t a good idea. However, it might appear cheaper to find your registered agent.

MyCorporation Pros & Cons

Pros

1. MyCorporation has a brilliant selling point in that they assist with the annual report service for your first year in their Basic plan ($99), Standard ($124), Deluxe ($224), and Premium ($334) LLC service plans. Only a few competitors take up such a burden in annual reports, especially with the small business owner, so this becomes a unique advantage.

2. MyCorporation has been in existence for over twenty years. The clientele base is high. Many business people have benefitted from this company. Over the years, they have served almost over a million businesses. With such a customer profile, as seen in the reviews, it is easy to trust and work with the company.

3. From the many reviews, you can see the company is reliable. The number of positive ratings is mind-blowing. They have an excellent overall score meaning that many customers have faith in the business they do.

4. For any other extra financial services like income tax assistance or unemployment insurance for your employees, MyCorporation is the best choice. Only a few companies provide such services.

Cons

1. MyCorporation doesn’t have a registered agent service in their Basic or Standard levels. The other few providers offer services, including a full year of a registered agent in all of their packages.

2. Charging $99 for the Basic package is relatively high compared to the services they offer.

Similarities between ZenBusiness and MyCorporation

There are several similarities between the two corporations.

1. Starting a new LLC or corporation is made easy. The guidelines given are user-friendly.

2. Both are online platforms. All you need is stable internet connectivity. You will be able to start your own company through their webpages.

3. The law governing the states you are in is adhered to in the end. They are well compatible with all the state requirements in the US.

4. If you are looking forward to forming and growing your business, both can help you. have tailored services that meet the needs

of each company.

5. Excellent customer feedback and rating exist between the two, which means the customers have proved they have good reputations

6. They can both play the role of being the company’s Registered Agent.

7. For greater law-abiding compliance and Filing requirements both play a significant role.

Differences between ZenBusiness and MyCorporation

1. For ZenBusiness, you pay an annual subscription service while in MyCorporation has standard s one-time fees

2. MyCorporation offers other services specializing in other businesses like a S-corp or C-Corp, whereas ZenBusiness does not have such services.

3. In MyCorporation, you get some offers such as trademark and copyright services; this is not the case in ZenBusiness.

4. ZenBusiness offers marketing tools such as business websites in some packages; MyCorporation does not.

Other Features They Have in Common

1. Affordability

With either ZenBusiness or MyCorporation, there is a considerable saving.

2. Excellent Customer Feedback

You will find hundreds of reviews that are available online, both of these companies receive high average rating scores from their customer feedback. Through the comments and ratings, you will learn that there is an excellent client satisfaction level.

3. Efficiency

With the two incorporation companies, you have an assurance of getting your services fast. Both will ensure you get a service provider with a quick turnaround time. They also have options available to speed up your business formation.

4. Additional Services

Both MyCorporation and ZenBusiness have several other services which they can give to your business. The benefits include registered agent service, filing the annual report service, guarantee, among others.

5. Customer Support: They have customer service support networks that answer your queries. Their real-time online chats are available. Ensure that you do not suffer alone when you can get help from ZenBusiness or MyCorporation.

6. Informative: MyCorporation has a Learning Center which provides information about business entity types, business formations, business licensing, among others. In regards to ZenBusiness, a well-updated blog is where they share business tips and cheat sheets. Both provide excellent resources for their customers and any other reader.

Commonly used Terms used in Incorporation

Incorporation

All the businesses that are running should be legal. A sole proprietor or a partnership has the responsibility of legalizing their business. The process of making the business legal is Incorporation. The main reason for incorporating a business is to set the business owner from suffering a company’s liability.

Registered Agent Service

A registered agent is the contact person of any business who receives government communication on behalf of the business. As a requirement, every business should have a registered agent. This acts as a shield and especially where there are deadlines to be met.

Corporate Resolution

MyCorporation gives a free template of the resolution. The document contains the decisions made by the board members. Some of the directives are buying or selling a company asset, assigning and terminating a lease.

Employer Identification Number(EIN)

EIN, also referred to as Internal Revenue Service issues federal Tax Identification Number. This unique and distinctive number assists in determining and identifying a business. For employers, they use the number to report ant tax obligation.

Certificate of Good Standing

To prove that you are legally allowed to run a business, you have to produce a good standing certificate. It helps you verify that you have been paying any taxes to your state. You use the certificate to; sell your business, renew your license, get business funding, and others.

Operating Agreement

Some company members are elected to run and manage the business where they have a great relationship. They observe due diligence and keep all the internal and external controls in check.

Therefore, an operating agreement will direct and define all the terms of internal operations, procedures, and the members’ relationship. In conclusion, it is an internal governing tool.

Worry-Free Accounting Assessment

This is an offered free accounting and tax assessment to help determine your bookkeeping, accounting, and tax needs. It’s handled entirely in-house by ZenBusiness.

State Fee

An upcoming business pays a state fee to the state, and payment is through the state secretary.

Articles of Incorporation

These are the formal legal documents that establish a corporation. Incorporation’s articles are crucial since they give the business owner legal protection for their assets.

The document plays a role in separating the business assets from the business owner’s assets.

Banking Resolution

Opening a bank account is not even a matter to debate; it is crucial. It is a requirement for every company. To open a bank account, you have to present several documents that show that all the directors have agreed. Resolution is the document that authorizes a company to open a bank account. The banking resolution shows the signatories, explains the mandate of operating the account, privileges, if any, and the parties responsible for any baking activities.

Choose ZenBusiness if You Are:

Are you looking for the most affordable services for your LLC formation service, which includes excellent features? ZenBusiness is your preferred option. You pay less for better. Check their packages and get to select the one that fits your business development goals.

Choose MyCorporation if You Are:

Do you believe that experience is the best teacher? Then, choose MyCorporation. You will get a company whose speed depends on the state capabilities and not on the packages you choose.

FAQs

1. What will be the Major Advantage of Both in Terms of Ongoing Services?

ZenBusiness will pride itself on having the most affordable package. The $39 plan is easy to access.

MyCorporation has been around for the last twenty years. So, the level of experience they have a significant impact when compared to other providers.

2. Do Either Go Overboard with Upsells or Third-Party Partnerships?

Both have third-party upsell programs.

ZenBusiness ensures that they control how the third party affects the process of registration. They keep them as minimal as possible.

Corporations have many third-party upsells. They interfere with the performance. They have around six third parties, which keep on popping out.

3. Can I get Publication Services?

Some of the states require that you make a publication of your company. They go ahead and give a specific newspaper like in a regional newspaper. Most of the corporation does not accept to handle such services. Fortunately, ZenBusiness is ready to help you in publishing your business.

4. How Is it possible to get a refund?

For ZenBusiness, if they have submitted the documents, no refund is possible. They can refund if you reach out before the filing date. But this is subject to a deduction of $50 for cancellation.

The refund policy of MyCorporation is easy. They have given a window period of sixty-days within which you seek a refund. At the same time, a customer who has stopped an order gets up to ninety days.

Conclusion

Both ZenBusiness and My corporation are good online LLC formation service providers. They provide an easy-to-use website, and the dashboard has easy-to-follow guidelines. ZenBusiness offers a wide range of services at an affordable price. It has a three-tier package starting with $39 for a basic plan. Something worth noting is that all the packages come with a free one year of registered agent services.

On the other hand, MyCorporation has been in business for the last twenty years. The company has four-tier packages to choose from, with the basic package priced at $99.

Both companies enjoy high positive ratings with excellent customer service.

It is difficult to say who wins but with a free one-year registered agent carrot being dangled; I would choose ZenBusiness anytime.

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Introduction

Background

ZenBusiness

Pricing

Why Consider ZenBusiness?

Additional Service

MyCorporation

Why Choose MyCorporation?

Factors to Consider when Choosing an Incorporation Service provider

ZenBusiness and MyCorporation Pros and Cons

ZenBusiness Pros

MyCorporation Pros & Cons

Similarities between ZenBusiness and MyCorporation

Differences between ZenBusiness and MyCorporation

Other Features They Have in Common

Commonly used Terms used in Incorporation

FAQs

Conclusion

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