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Inc Authority Review
| Inc Authority, LLC | |
|---|---|
| Founding Year: | 1989 |
| LLC Formation Starting Price: | $0+ state filing fees |
Pros:
- Free Filing Option for both LLCs and Corporations
- Free Year of Registered Agent Service Included
- #2 Affordable LLC Service
Cons:
- No Publicly Listed Package Options
- Price for Operating Agreement Higher than others
- Many Upsells throughout Application
Inc Authority Review Table of Contents:
Inc Authority Overview
Inc Authority is based in Reno, Nevada and was founded in 1989, making it one of the longest-running businesses in the business formation space. Inc Authority has helped start hundreds of thousands of businesses since its inception and has over 6,000 customer reviews on Trust Pilot. The most notable thing about Inc Authority is their free LLC or Corporation formation service, where you only pay state fees. This makes Inc Authority’s formation service basically like getting free professional assistance since you’ll be paying the same price to form your LLC or Corporation as you would if you were to do it on your own without any help.
Inc Authority also is endorsed by Daymond John of Shark Tank fame as his go-to source for business formation.
“I wish I had Inc Authority when I was getting started. They are my friends, my partners, and the experts in the industry. They will get your corporation or LLC set up for free, you just pay your state fees. They help thousands of entrepreneurs every month because their services are so important.”
– Daymond John, Star of ABC’s Shark Tank
Inc Authority Services Review
Inc Authority is a bit unique in that they don’t promote any packages and prompt you to start the process with their free formation service. As a result, you simply pick and choose which additional features or services you want throughout the checkout process. We’ve gone through the process for you so that you can know exactly what each service entails, if they matter, and how much it will cost.
Included with every Inc Authority Formation for Free:
- Preparation & Filing of Formation Documents
This is the fundamental process to legally form an LLC or corporation. Inc Authority completes the formation documentation needed and submits this to the Secretary of State’s office for approval. - Registred Agent Service
A registered agent is essentially the official point of contact for a business with the state responsible for receiving correspondence from the state and receiving service of process in the event the business is sued. Every LLC or corporation needs to appoint a registered agent when they are formed. While you can choose to serve as your own registered agent, it can be a bit risky if you miss important messages from government organizations, which could result in your business losing good standing with the state. Inc Authority is one of only a few formation services that provides the first year of registered agent service for free. For example, ZenBusiness and LegalZoom both make you pay for this service, even in the first year. - Digital Storage of Documents
Inc Authority provides a client login for safe digital storage of the important documents related to the formation of your business. This can help make sure that you don’t lose track of vital records you’ll need for various parts of setting up and running your business. - Tax Planning Consultation
Your new business will receive a Tax Planning Consultation to help you save more of your business income. This is especially helpful for first-time business owners who may not know some of the different taxation options available to LLCs. No other formation provider offers this as part of their free formation package. - Business Credit & Funding Analysis
A Business Credit and Funding Expert will review your business credit and financing needs and share solutions with you. This is especially useful for businesses that plan on seeking outside capital or want to learn more about how to get financing to start their business. This is something that no other provider does for free, which is a great value.
Optional Services Available:
- Employer Identification Number (EIN) – $49
Every corporation and nearly every LLC is required to get an EIN. An EIN is an essential item for an LLC as it’s needed to file business tax returns, open a business bank account, and hire employees. Inc Authority charges the least of any of the LLC formation providers we reviewed. Most providers charge $70 or more to obtain an EIN. It’s important to note that you can apply for an EIN directly with the IRS on your own for free; however, many first-time business owners find this service helps ensure that the application is completed correctly. - Operating Agreement – $89
Having an operating agreement is vital for every LLC. Without an operating agreement, you leave yourself at risk as an owner of an LLC. A court may invalidate the limited liability protection of your LLC if you do not have an operating agreement. Beyond this, an operating agreement is essential as it formalizes how profits are distributed and how disputes between owners can be resolved. - Personalized Record Book – $99
Having a record book gives you a more professional storage method for all the related legal documents for your business. In addition, the record book includes some additional legal documents such as organizational meeting minutes, resolution documents for when changes are made to the business, and custom ownership certificates. - Express Processing – $49
This option allows you to get your application processed faster by giving your priority in the processing queue. On average, this option will get your order processed in 3-4 business days faster than the standard processing option. - Website Registration & Business Email – $10
Register your business’s domain name and get up to 5 business email addresses set up using your domain name. For most businesses, registering their domain name is a key to branding and being found online. This service is a terrific deal as even the cheapest domain registration providers online are roughly $10. Since you’re getting both the domain name and email address for this price is a great value. - Inc Success Advisor – $197 or $27/month
Get a personal business advisor who will help answer questions related to IRS and state notices, business licenses & permits, lawsuit protection, how to set up payroll, business banking, and credit cards. While this feature is necessarily needed, it’s a great help for new business owners who will have more questions about the ins and outs of getting your business running. - Bank of America Business Checking and Credit Card Offer – FREE!
Inc Authority has a great business banking and credit card offer from Bank of America where you can earn up to $500 in credits when you sign up for a checking account and credit card. The requirements to get the $500 in credits should be easy to meet for most businesses. With this offer, you can effectively get more money back than you spend on your LLC formation, which is pretty impressive. - Piority USPS Mail Delivery of Documents – $29.95
While this isn’t required, it’s an option that is surprisingly not available from many business formation service providers. This is a good option if you want to get physical copies of your documents as quickly as possible after your LLC or corporation is formed.
Our Take on Inc Authority’s Services
Inc Authority’s services are top-notch, and they provide the most value by far for free of any business formation service provider. Inc Authority is the only provider on the market that provides the LLC or corporation formation, one year of registered agent service, and tax & funding consultation for free – you simply pay state filing fees. This is an incredible value, and you get it all for the same price as filing on your own. Because of this, Inc Authority is the number one rated business formation service that we recommend.
In addition, there are many features or services that Inc Authority pitches are not “fluff”. Many other providers on the market will take a service they provide, such as registered agent service, and explain different features of this service as if they are separate to make their service look more valuable or “fluffed up”. Inc Authority doesn’t do this and is very transparent about what you are getting when you pay for a feature or service.
Inc Authority is our #2 Low-Cost LLC Service
Inc Authority provides great value for core services and features that matter when forming an LLC or corporation. If your main concern is getting an affordable service, Inc Authority is a great option. As a result, we recommend Inc Authority as the #2 low-cost provider in the LLC formation space.
Customer Reviews and Feedback
Inc Authority’s customer reviews are overwhelmingly positive with a 4.7 out of 5 rating on Trust Pilot with over 6,000 reviews. Of the complaints listed, most appear to be in regards to the delivery timeframe or difficulty with refunds. From what we can see, the one downside to using Inc Authority is that they rarely provide refunds as they begin processing your application once it’s submitted.
Alternatives and Competitor Comparisons
Inc Authority provides great value for nearly everything you can get from them but is generally the best fit for those seeking a low-cost option to form their LLC or Corporation. When we compare providers, we typically look at 3 different primary needs business owners are looking for:
- Cheapest Basic LLC Formation – or those looking for the most affordable option available to form an LLC, regardless of other add-ons or other features.
- LLC Essentials – In our opinion, the most valuable collection of items should include the essentials you’ll need to get your LLC off the ground. This consists of the LLC formation itself, EIN, Operating Agreement and Registered Agent Service.
- Premium Package – For those seeking a complete service that includes the essentials and other valuable add-on features.
Cheapest Basic LLC Formation
For those who are only concerned about getting their LLC formed for a cheap as possible, regardless of other services or features, Inc Authority is the best on the market. There’s only one other major provider that offers a free service, Inc File. Even though Inc File offers a free formation service, their offering does not include as much as Inc Authority. Here’s how the 2 compare:
| Feature Name | Inc Authority | Inc File |
|---|---|---|
| Articles of Organization Filing | ||
| First Year of Registered Agent Service Free | ||
| Tax Consultation | ||
| S Corporation Election Form | ||
| Business Checking Account | ||
| Business Credit & Funding Analysis |
Cheapest Basic LLC Formation Recommendation
Inc Authority is the superior option for those seeking the lowest cost option for forming an LLC. Compared to Inc File, Inc Authority provides more value. Because of this, Inc Authority is our #1 recommended provider for those seeking the lowest cost option.
LLC Essentials
For anyone starting an LLC, we recommend that they get what we call the “LLC essentials”. Services with the LLC essentials include LLC formation, EIN obtainment, operating agreement, and registered agent service. The main other best offering on the market for these besides Inc Authority is from ZenBusiness. However, when comes to getting the LLC essentials, Inc Authority’s offering is currently $80 cheaper:
VS.
Premium Options
When it comes to premium package options, Inc Authority does have a few options that they refer to as Start-Up Bundles, however, they don’t really promote these packages on their website. If you’re looking for a premium solution with straightforward but affordable pricing, we recommend checking out the offering from Better Legal. Better Legal is a new provider that focuses exclusively on providing a premium service for $299 +state fees. If you would like to use Better Legal’s registered agent service, they charge an additional $90 per year.
Better Legal Service Includes:
- Articles of Organization Filing
- Employer ID Number (EIN)
- Operating Agreement
- Banking Resolution
- Business Website
- Tax Analysis
- Business Checking Account
- Insurance Evaluation
- Payroll, Benefits, and HR Platform
Who is Inc Authority Best For?
Inc Authority provides an overall great value for almost any need. They provide the most value to those who want either the lowest cost option or for those seeking a provider that gives the best value for their services. Since Inc Authority gives more power to customers to choose only what they need, we highly recommend them to pretty much anyone looking to form an LLC or corporation.