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      November 29, 2020

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My Corporation vs Law Depot

Best LLC Formation Services

To help you find the Best LLC Formation Services, TopConsumerReviews.com provides you with an in-depth comparison of My Corporation and Law Depot.

To see ALL of our reviews for the Best LLC Formation Services, please Click Here

Who is the best LLC Creation Company? If you're self-employed, the next step in growing your business while covering your assets is probably forming an LLC. Creating an LLC is often seen as a good move for people who want to limit their liability without the cumbersome paperwork and regulations of a corporation.

No matter where your business is located, you'll typically need to register your company name and file documentation with the state, along with having accurate, complete Articles of Organization. Other requirements depend on the specific legal statutes governing businesses in your state. An online LLC Creation company can greatly help faciliate this process.

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2020

LLC Formation Reviews

3.5 stars
My Corporation

MY CORPORATION

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Cost:

From $89 to $299, depending on the level of service selected

For over two decades, My Corporation has been helping small businesses get their start. Given that their tagline is "Entrepreneurs welcome", it's easy to see that this California-based LLC formation service is focused on the needs of growing companies.

Free startup consultation

One perk offered by My Corporation is a Free Startup Consultation. If you want some guidance in identifying your business goals and the best steps to take to reach them, this is a great way to get a feel for how My Corporation can help you - at no cost to you. You'll find the "Free Startup Consultation" button featured throughout the site; enter your information there and you'll soon be connected with a representative.

Free entity wizard

Alternately, if you like to get information on your own before you speak with a rep, look further down on the site to find the Free Entity Wizard and Comparison Chart tools. This will help you determine if forming an LLC is the right next step for your business.

Best LLC Formation Company

4 LLC packages

My Corporation offers four packages of service: Basic, Standard, Deluxe, and Premium. All packages also include free online accounting, free domain name, and a custom business logo.

  • The Basic plan is priced at $89; you'll get your Articles of Incorporation, Business Documents, and Business Name Check.
  • The Standard package costs $99 and includes your Annual Report.
  • For $199, the Deluxe plan also includes a year of Registered Agent Service. You'll pay $120/year after the first years' service.
  • At $299, the Premium package adds the MaintainMyBiz service, consisting of any four business filings you request each year. You could call this a "corporate maintenance package" that takes you through the creation of your LLC and keeps it running in the years to come.

Extras available

All of My Corporation's other features can be included at an extra cost. For example, you may want to have them apply for your Employer Identification Number (EIN), or to use their MyCorp Vault Document Storage to keep all of your business documents in one location. We like that small businesses can decide exactly which additional services they need and not have to pay for ones that aren't relevant (such as a seal and embosser set). But, when looking at their packages, My Corporation's "extras" are often included with competitor plans, especially with the higher-priced tiers of service.

Not many reviews

Reputation-wise, My Corporation had an "A+" rating with the Better Business Bureau at the time of our review. We expected to find lots of customer reviews, since this service has been helping "over one million businesses form and grow" in the last two decades. While most of the client comments we found were positive - praising My Corporation's outstanding customer service during LLC formation and the support phase afterwards - there weren't very many reviews to be found.

Trustworthy option

Overall, though, My Corporation provides a solid range of services for creating an LLC and a positive reputation. We think they're a trustworthy option for small businesses who only want to pay for the LLC formation services they actually need.

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2.5 stars
Law Depot

LAW DEPOT

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Cost:

Free to create an LLC Operating Agreement, Articles of Incorporation

If you want to create an LLC Operating Agreement for no charge, Law Depot is your service. All you have to do is click the "Get Started" button and select your state, and you'll be shown a preview the form you're filling out.

Done in 10 minutes

From there, the "Create My Document" button will walk you through all of the typical questions needed to fill it out accurately. You'll be able to download or print your customized LLC document in 10 minutes or less.

You get what you pay for

What's the catch? There isn't one. But, you get what you pay for - which, in this case, means that you get no further direction in forming your LLC. Yes, you can wade through the FAQ for LLC Operating Agreements - where you'll find out that you also need to create Articles of Incorporation (which is also available at no charge) - but you won't get any step-by-step instructions for what to do, when, and how.

Great reputation

Law Depot does have a great reputation as an "A+" rated, accredited company with the Better Business Bureau, so we definitely have no issues with their track record. And, who doesn't love getting things for free?

Figure it out yourself

But, when it comes to an important process like creating an LLC, it's critical to get every single component completed accurately and submitted to the right places. With Law Depot, you'll have to figure most of that out on your own. Most small business owners will probably find it worth the investment - probably less than $100 - to get some personalized guidance from one of the higher-ranked LLC formation services we reviewed.

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Continued from above

In the past, navigating those state-specific obligations to form an LLC was both expensive and time-consuming: finding a local lawyer with expertise in the field and paying hefty fees to get everything done correctly. Fortunately, today's small business owners have access to much more affordable options online. These services offer all of the same benefits, accuracy, and legal standing that you'd expect from working in person with an attorney. You can get as much or as little direction as you need to complete each step required for LLC formation, depending on which service you choose.

Which provider should you choose to help in forming your LLC? Not all services are the same, so when comparing what each one has to offer, keep in mind these important factors:

  • Reputation. How many small businesses have been served by the provider? What do former clients say about their experience in forming an LLC with them? Is the company rated and/or accredited by the Better Business Bureau?
  • Cost. What will you be charged to form your LLC? Are their different packages available? Are there a lot of add-on services that will increase your cost? Do you get a good value for what you pay?
  • Services. Does the company offer a wide range of services, or do they take a one-size-fits-all approach? Will the service give you one-on-one help if you need it? How much are you expected to do on your own?

TopConsumerReviews.com has reviewed and ranked the best LLC Formation Companies available today. We hope this information helps you create your LLC quickly and affordably!

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