When looking for the best incorporation service provider for your business, it's helpful to weigh the pros and cons of providers like Inc Authority in making your decision.
Inc Authority formation services: Cost and features
To officially become either a C corp or S corp, you must first file Articles of Incorporation with your state. (In some states, this document is referred to as a Certificate of Incorporation.) But corporations have other requirement that must be met in order to be legally compliant. Some of these requirements include -
- Appointing a registered agent at the time of formation
- Obtaining an EIN (Employer Identification Number) from the IRS
- Registering with the state’s department of revenue
- Meeting state-specific requirements, such as initial filing requirements
- Preparing corporate bylaws
- Holding the first board meeting
- Filing Form 2553 with the IRS (S corporations only)
Inc Authority prominently advertises a free LLC formation package on their homepage, where customers pay only the state filing fees. Customers can also choose to form a corporation or nonprofit at no additional service fee (paying only the state filing costs).
What’s included with the free business formation service:
- One year of registered agent service (renewal is $199 per year).
- Free EIN application assistance with the IRS
Note: At the time of writing, customers can choose either 24-hour processing or EIN assistance. Both are usually a $49 add-on.
In addition to free business formation, Inc Authority offers two paid service bundles: Starter and Fast Track.
- Starter Bundle: A more comprehensive package that covers many key legal and administrative needs, including bylaws, stock certificates, and initial meeting minutes, as well as EIN obtainment and one year of registered agent service.
- Fast Track Bundle: Includes everything in the Starter Bundle, plus the “INC Success Advisor Package,” which is access to a private banking specialist, personalized business guidance, and expedited filing.
Both bundles come with a custom-built website. These bundles can only be ordered over the phone and that is also how you learn what the pricing is. The prices aren't listed online, but Inc Authority claims that customers can save “hundreds of dollars.”
Inc Authority incorporation process
Before you begin, it’s helpful to understand the basic requirements for incorporating. This will ensure you provide the correct information during the process and can properly evaluate any additional services you might need. Check out this resource to learn more: Guide to starting a corporation.
Inc Authority uses a step-by-step online process to guide you through creating a corporation for its free business formation service:
- Choose your entity type and state (LLC, corporation, or nonprofit).
- Provide business details, such as whether this is your first business, if you’ll have employees, whether you’ll accept credit card payments, and your business description/industry.
- Review available add-ons. While EIN registration and one year of registered agent service are included for free, other services (e.g., S corp election filings for $79 and custom bylaws for $89) are optional paid extras.
Processing times vary by state and package. With the free basic option, you can expect standard turnaround based on state requirements, typically a few business days to several weeks.