The prospect of starting a business can be terrifying, however there are numerous brilliant formation services which can help you to focus on growing your business, rather than trying to figure out the nitty-gritty of it all yourself.
There are numerous formation services to choose from and most of them have different merits. In order to help you make an informed decision of what to look at when deciding on one, below will be a breakdown of five of the better ones. To be highlighted is what each of them focus on as that will help you to decide on which one is best suited to your unique business needs.
Why choose a formation service?
Not only do they help you start your business in a more carefree way, they can also end up lowering your startup costs. The best of these formation services will also help you get an Employer Identification Number (EIN), which is like a Social Security Number (SSN) for your business and is required by the Internal Revenue Service (IRS) to identify taxpayers. Not only this, but they also help you to get a registered agent which is required in the formation of an LLC. A registered agent is a person or business entity that accepts tax and legal documents in the name of a business.
These are the top five formation services with their unique attributes, and prices:
1. ZenBusiness ($39 + State Fees)
ZenBusiness is generally best for small businesses. You can choose to pay for more expensive packages, but all three still include registered agent services, a free operating agreement, and a hassle-free CPA Assessment. In fact, ZenBusiness has been noted as having the best registered agent service. Furthermore, the CPA Assessment offers an assessment of the business’ finances and suggests licensed CPAs for your unique requirements at no extra cost. These accounting services tend to offer significant aid in keeping track of the business’ monetary flow, filing taxes, and staying organized in general.
2. Rocket Lawyer ($349.99 + State Fees)
Rocket Lawyer is better known for being the best service for those who require ongoing legal services even after the LLC has been formed. Rocket Lawyer is also unique in its set-up as it provides a subscription-based model for continued legal services. Premium members also have the benefit of access to legal documents, advice, and more.
TRUiC (The Really Useful Information Company) has partnered with Rocket Lawyer to give clients an exclusive package where customers can save over 45% or $300. It’s called the New Business Bundle and includes free Incorporation Service, one year of Registered Agent Services, and one year of Legal Services with real lawyers who provide expert advice.
3. Incfile (Free + State Fees)
Incfile has awesome value in their basic pricing plan. The Silver Package is free apart from the state fees, and incorporates the LLC formation, one year of free registered agent service, and lifetime company compliance notifications. However, should you need them to handle the Operating Agreement then it’s an extra $40.
4. Northwest Registered Agent ($49 + State Fees)
Northwest Registered Agent provides all of the LLC services that are indispensable for online business formation. Their middle and top-tier packages both contain an EIN and Operating Agreement. Their registered agent services are part of their basic packages for $49 + state fess, but it’s $125 every consequent year. They have great customer service and offer their clients Corporate Guides who are well-trained U.S.-based support agents individually assigned to every account. This way the client can talk to the same person every time they have a query.
5. LegalZoom ($79 + State Fees)
LegalZoom is the most well-known business formation service, but this comes at a price. They place an emphasis on full legal services which exceed the creation of the LLC. They provide features like a Business Advisory Plan which offers tax advice, help from an attorney, and access to legal documentation.
Read more here if you want more information. TRUiC offers more in-depth information on each service and a side-by-side comparison of all the different packages at different levels.