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Friday, July 11th
My Corporation is a document filing service that has been in business since 1998. Since then, they've aided in forming more than 1 million businesses across all 50 states. They can also help you with business maintenance, and they sell custom marketing materials.
Four pricing tiers for business formation
My Corporation offers assistance in setting up various types of businesses. These include C-Corps, S-Corps, B-Corps, Non-Profits, Professional Corporations, DBAs, and Limited Liability Companies (LLCs). Their pricing is the same for all business types but there are different packages.
All come with Articles of Organization, a name check, and MyCorp Vault document storage. The Standard package includes your annual report. The Deluxe package includes a Registered Agent service. The Premium package includes all of those things, plus MaintainMyBiz, described as a "maintenance package for corporations and LLCs” to help you keep your business compliant. After you pick your state, add-on services will become visible. You may be interested to know that they charge $100 (in addition to state fees) for rush filing - ouch.
Payroll services available
My Corporation provides a wide range of services beyond business formation. They assist with various business filings like foreign qualification, amendments, initial reports, among others. They also help with business maintenance tasks like annual reports, corporate resolutions, and certificates of good standing. Moreover, they offer payroll services, promotional products, print marketing, business checks, logo and website design, and document storage.
My Corporation practices a little deception around state fees
We discovered that My Corporation has a significant issue with honesty in their pricing. They advertise certain costs for state fees, but these are often higher than what the state actually charges. For instance, in Wisconsin, the state filing fee is $130, but My Corporation charges $145 for "state fees”. This means MyCorp is taking an extra $15 on top of each package price. For expedited filing, Wisconsin charges $25, yet My Corporation states the fee is $55. We find this lack of transparency unethical.
And we found other hidden costs
Also, some add-on services, like the $120 registered agent services, automatically renew each year. However, it isn't explained how this works when the service is part of a package. Lastly, our basic LLC creation package order included an inexplicable $34 "standard shipping and handling" fee. Whatever for, MyCorp? In their FAQ, My Corporation clarifies that, "Several shipments are required throughout the process, to obtain signatures and to forward and return signed and filed documents. In addition, all shipments are via priority shipping, for tracking purposes.” However, My Corporation's competitors usually don't charge for shipping.
Customer support gets high marks
My Corporation is listed as "not rated” by the Better Business Bureau, and there are no complaints listed on their page. On Trustpilot, however, they have a 4.4-star rating average from 250+ reviews, where their customer service gets a lot of 5-star reviews for responsiveness. In one case, a customer who opened a non-profit with My Corporation had several unexpected problems arise. A representative from My Corporation reached out to them, asked the right questions to understand their situation, and even called back when he couldn't initially get through. Notably, the representative provided detailed written options, demonstrating professionalism and a high level of helpfulness. The customer appreciated this thorough approach and found the service to be exceptional, even stating they "don't recall ever having better customer service.” My Corporation's phone support operates Monday to Friday, 7:30 A.M. to 4:30 P.M. PT. They offer refunds within 60 days of purchase, but some restrictions apply.
Dishonesty tanks their score
While the customer service may be fantastic, we have to ask ourselves what My Corporation's rating would be if their customers were aware they were being ripped off (we suspect there might be a few more 2- and 3-star reviews in the mix). Because of the issues we found in their pricing, we can't give them a higher rating.
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