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Incorporation is the process of legally creating a corporate entity, which can be a separate legal entity from its owners, with its own rights and responsibilities. As a business owner, incorporation can offer you a range of benefits, including limited liability protection, tax advantages, and increased credibility. However, there are also various considerations and requirements that you need to be aware of when incorporating your business.
The first step for business owners is to decide what type of corporation to form. In general, there are two main types of corporations: C corporations and S corporations. C corporations are subject to corporate income tax, while S corporations are not taxed at the corporate level, but rather have their income and losses passed through to their shareholders to report on their personal income tax returns.
Wednesday, June 7th
Undoubtedly, Incfile is an outstanding and affordable incorporation service. Their most basic package provides exceptional benefits, such as a full year of registered agent service and next-day business filing. Moreover, tens of thousands of satisfied customers have given this company a perfect five-star rating. We highly recommend Incfile as our top choice for incorporating your business.
Inc Authority offers a $0 fee option to incorporate your company without any trial or subscription requirements. With over 30 years of experience and 130,000+ clients, they have received thousands of five-star reviews, providing exceptional support throughout the entire process of establishing your business. While some additional features may be available for a lower cost through other providers, Inc Authority is budget-friendly and reliable, making it one of our top picks for company incorporation.
My Company Works doesn't just stop at helping you incorporate your business: they go above and beyond with their Startup Wizard tool, which guides you through the legal requirements necessary after the formation process. What's more, this provider has lowered its prices since our last review and even offers a 100% satisfaction guarantee, making them one of our top choices for businesses looking to pursue incorporation.
FileNow offers affordable and dependable incorporation services, which are guaranteed to be error-free. Despite being a newer company, it comes highly recommended due to its transparency and commitment to providing a stress-free experience. With incorporation packages starting at $49 and $79, depending on whether you're going for a C- or S-Corp, FileNow includes many services that are considered "extras" by other companies. You'll be hard-pressed to find a client who wouldn't enthusiastically recommend FileNow for your incorporation needs.
CorpNet places a strong emphasis on customer satisfaction when it comes to incorporation, garnering numerous five-star reviews from contented business owners. With a 100% satisfaction guarantee during the first 60 days and highly responsive and knowledgeable representatives, CorpNet's commitment to pleasing their customers is commendable. Although their prices may not always be the lowest, you can count on CorpNet to offer transparent pricing and comprehensive information about their services, which includes free registered agent services for up to one year or 60 days. Overall, this is a reliable option for incorporating your company, even if it may require a slightly higher investment.
Swyft Filings is a go-to incorporation service for entrepreneurs and small business owners, offering an intuitive online platform, reasonable prices, and exceptional customer support. Their client satisfaction is evident with thousands of glowing five-star reviews. However, keep an eye out for additional services that may be automatically included during sign-up; make sure to check or uncheck those boxes to avoid unnecessary charges.
Business Rocket, a new player on our list of incorporation services, has already accumulated almost 1000 positive reviews from satisfied customers, earning them a spot on our radar. Starting at just $49, they offer several package options, including the first year of registered agent services at no extra cost. However, we cannot give Business Rocket our full recommendation due to the lack of information about the company (like no BBB rating) and the absence of a satisfaction guarantee. Nonetheless, the positive client reviews make this service possibly worth considering when choosing an incorporation option.
MyCorporation offers four incorporation packages, along with several additional services that new businesses may find useful. While the company has received many positive ratings from satisfied customers, it is important to be aware of certain packages that come with automatic renewals. To avoid being charged for these services in the future, it is recommended that clients cancel them in writing at least 30 days prior to the renewal date. Overall, this isn't a bad option for company incorporation, but there are a few options we'd choose first.
BizFilings aims to support you not only in the incorporation process but also in future years. This service was founded by entrepreneurs who understand the needs of small businesses, and it promises clear pricing and guaranteed accuracy. However, some customers have expressed dissatisfaction upon realizing that their three months of free registered agent service automatically renews, and that they could have saved money by incorporating their company with a different provider.
Rocket Lawyer is a versatile service that provides consumers with access to a variety of legal documents for both personal and business purposes. While full access requires a monthly membership of $39.99, you can pay a one-time fee of $99.99 to incorporate your company if you don't want to subscribe. However, Rocket Lawyer's incorporation services are not as straightforward or comprehensive as those of its competitors, particularly those that specialize exclusively in business formation. We recommend exploring other platforms before selecting Rocket Lawyer to incorporate your company.
Since its establishment in 2012, Harbor Compliance has been providing assistance to businesses with various formation and compliance needs. Recently, the company has significantly reduced its prices and eliminated the requirement for clients to purchase expensive packages. However, customer satisfaction with the service is mixed, and it's uncertain whether the new, lower price point offers sufficient value. We recommend exploring higher-ranked options for company incorporation before considering Harbor Compliance.
LegalZoom provides various legal documents and services, ranging from essentially DIY incorporation to extensive business consultations with practicing attorneys. Despite having an "A+" rating from the BBB and a generally favorable reputation, the feedback from clients who have used LegalZoom for business formation is concerning. That's why LegalZoom's ranking has fallen, and it is no longer a platform we promote for incorporating your company.
FindLegalForms offers a budget-friendly option for those who are familiar with the company incorporation process and only need the essential documents. You can easily download all the necessary forms immediately. However, you should know that this service doesn't offer any support or guidance as you fill out and submit the forms to incorporate your business. As a small business owner, you may prefer a service that provides more comprehensive assistance rather than just a set of forms to complete. We're pretty sure you'll be better served by one of the high-ranking incorporation providers in our review.
Once the type of corporation has been decided, you'll need to follow the legal requirements for incorporation, which vary depending on the state in which your corporation is formed. Some of the common requirements include filing articles of incorporation, appointing a board of directors, holding annual meetings, and maintaining corporate records.
So, once you've determined that you want to incorporate, what's next? You could jump in and try to wade through all of the requirements and paperwork on your own - or you could take advantage of a service that can do all of the heavy lifting for you, often at no cost beyond what you'll pay to file your paperwork in your state. Hmmm, do it yourself for free or have someone else do it for free? Easy choice.
When it comes to choosing a service for incorporating your company, it's crucial to get it right on the first try. The process can be complex, so it's important to keep some key factors in mind when deciding how to proceed with your business. Here are some of the criteria to consider when taking the next step:
At Top Consumer Reviews, we understand that company incorporation can be a crucial step in safeguarding your personal assets and limiting your liability as a business owner. To assist you in this process, we have assessed and ranked the most widely used incorporation services. With the help of our comprehensive reviews, we are confident that you will find the right provider to guide you through this important step.
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Tue, 06 Jun 2023