It is human nature to go for the best, be it services or products on offer there is no exception. Even at an individual level, it is normal to associate with people who give you the best. With that in mind, we tend to compare and explore different service options on the table, especially when a business entity is concerned, you want to invest in the best, and the support services offered should be favorable to you. Thus, incorporation is an essential service to business entities at different levels of operation. The main reason for incorporation is to separate the business and the individuals involved in forming the entity in terms of liability.
Thus, the company becomes a legal entity and capable of transacting business on its own. The individual can only be held liable to the extent of his/her contribution. This, in business terms, is limited liability. In the sole proprietor case, the business owner carries the debt burden and other risks involved in running the business. An incorporated business is seen differently in law and gains more credit to potential customers and employees. That said, there is a process involved in creating a new business, and an LLC formation service is most welcome. What would you do without a legal service?
Filing legal documents can be a daunting task. The company formation process is long and tedious, but your work is simple, with an online incorporation service. But then, as a small business owner, you rake your brain trying to figure out which business formation service is the best.
In my previous articles, I gave a step by step guide on how different incorporation companies create a limited liability company.
In this case, I put Incfile and Corpnet head to head in terms of ease of use, filing fee, and other features. Let’s go!
Before online incorporation services came into being, LLC formation required a visit to the attorney. It was a costly affair since they charged per hour. The figures ranged between a whopping $100 and $1000. That cost is high, and small business owners couldn’t afford that. The process is also tedious and requires one to be keen and patient since it wasn’t a one-day affair. The emergence of online incorporation services companies was a god sent and eased the process’s pressure.
In this article, I will discuss Incfile vs. Corpnet.
Incfile was formed in 2004 by a group of entrepreneurs. They wanted to make the process of incorporating a walk in the park. They have helped over 250,000 businesses incorporate.
Corpnet came into being in 2009 as an incorporation service provider. Their mandate is to provide legal services to companies. Their service is “first-class”!
- How does paying $0 sound to you? Saving is an ultimate goal for any business owner and if incorporation costs you only the state fee or less than $100, including the state filing fee, then dive headfirst. Both Incfile and Corpnet are affordable. All the more reason to check out the two companies.
- As the incorporation starts, we have questions that need answers to help us decide. At this point, customer care is essential, and it saves you time and money (remember, time is money). These two companies offer you the best customer service.
- They are legitimate and experienced, having helped in the formation of thousands of businesses. They handle your filing in the best way possible.
- Apart from their experience, customers are satisfied with what they do. Customer review on them shows that they are good at what they do.
- The formation is not the end process. These two companies provide other services like registered agent service and tax ID (EIN). You get everything in one basket, and that saves you time.
Incfile asks for $0 plus the state fees, and I would choose that as it saves me some money. On the other hand, Corpnet requires you to pay $79 plus the state fee on the basic package.
There are features and benefits associated with each business formation and are different across LCC formation services. With Incfile, you get free registered agent service for a whole year while the Corpnet incorporation service provides a 60 days trial on their basic LLC formation package.
Incfile offers a business tax consultation feature, which is not the case for Corpnet.
Corpnet started its operations in 1997 and has helped above 500,000 customers giving it an edge in experience over Incfile, which was started in 2004 and served just above 250,000.
Customers are happy when they receive timely support from the customer care team. Corpnet prides itself on the best customer service team available between 10 am and 8 pm on weekdays. They are consistent and readily available.
Incfile are relatively slow in their response and might take at least 24 hours to get back to you through a call or email. They operate from ten in the morning to seven in the evening on weekdays.
Turn-around time varies depending on the State where your company is incorporating and if you expedite the process. Incfile saves you a few days as they are quicker than Corpnet, though the difference is not that big.
They both have a tracking system, and you can exactly see where your business incorporation process is. Thus, you have some peace of mind, and it helps you plan on your next move.
Registered Agent Services
An LLC formation must have the services of a registered agent who receives legal documents from the government and forward them to you.
Corpnet provides the service at an annual fee of $149 and offers a 60-day trial on their basic package.
Incfile has an advantage in this as their annual fee is $119 across all LLC formation packages.
What a customer says about you is an important strong point though I sometimes find the reviews biased. One customer gets a service and is happy about it. Another receives the same service but says they had a bad experience. In my view, it all depends on an individual.
Incfile review on Trustpilot portrays an incompetent company, while on BBB, the accreditation rating was revoked after they failed to meet standards required by Accredited Business.
Corpnet has a motto for a 100% customer satisfaction guarantee, and it seems they are doing precisely that. Most of their reviews on Trustpilot and BBB are positive, meaning they give a better service than Incfile.
Ease of use
Their websites are easy to navigate, and the dashboard’s instructions are simple and easy to follow. I would say it is easy to use both of the companies.
Both provide other services that uplift your business to grow. The benefits are more or less the same and include registered agent services, amendments, foreign qualifications, and EIN acquisition.
Some services are, however, only provided differently from one company or the other. An example is the business accounting service in Incfile but missing in Corpnet.
Corpnet has an automated compliance platform, while Incfile has a system that reminds you of compliance with government requirements but not as efficient as Corpnet.
The choice to either go with IncFile or Corpnet for your business formation needs is entirely personal. I took the two companies on a spin, and I can see why they are among the top business formation companies.
In this piece, you have noted that Incfile and Corpnet have many features similar to the services they offer. They differ in some key elements, though. The choice of which company to take you through the LLC formation depends on your priorities.
Thus, for accessible customer support, choose Corpnet, which has better reviews on that, according to Trustpilot and BBB accreditation. However, for the low-cost services, great features, then Incfile is your best to do the work for you.
You may want to spend less money but be faced with time constraints and poor customer support. On the other hand, you spend a significantly higher amount and get through a smooth and quick process.
Can I Form an LLC on My Own?
Yes, you can! However, my advice is to take it through an incorporation service due to the different government requirements to form an LLC. It might be a hustle to familiarize yourself with the rules and regulations.
Do They Have a Refund Policy?
Corpnet offers the best refund policy. With their 100% satisfaction guarantee, they allow sixty days to request a refund, and they will refund with no charges levied on you.
Incfile allows customers to request refunds before they’ve submitted your payment, which is usually in a day. Squeezing the request within this time still attracts $30 as a processing fee. Once they have submitted your payment, the refund request is closed.