The Pricing Structure of Incorporate Fast
There are 3 main packages offered by Incorporate Fast Inc:
So, let’s take a look at each one and then examine which is ideal for your business needs.
The Basic package costs $99 + state fees and it includes:
Articles of Organization
The articles of organization are the document that needs to be filed with the state so you form your business. This is a necessary process if you want to form a corporation or LLC. Incorporate Fast will prepare this document and file it with the state.
— One Year of Free Registered Agent Service
A registered agent is needed to receive tax notices, subpoenas, and correspondence related to your business. After you form your company, Incorporate Fast will help you get started with one year of this service for free. Since you are required by every state to have a registered agent, this is a pretty good deal. Cancellation is easy if you wish to hire an external registered agent. If you wish to keep the service, the cost is $125 per year.
— Annual Report Filing
To keep compliant with the state that you form your business in, you will need to file an annual report. When signing up for the basic package you by default request for annual reporting. Annual reporting costs $100/ year and you can cancel anytime, of course.
— Unlimited Name Searches
When you form your business, you will need to check if the name for your LLC is available. Incorporate Fast has a service that thoroughly checks legal systems to ensure that your business name is in the clear.
— Same Day Processing
As soon as you make your order, Incorporate Fast will file the necessary documents with the state on the same day. This is where they provide great value if you want to form a business fast, but cheap. Note that they don’t work on weekends so that only applies to business days.
— Electronic Delivery of Documents
Whatever documents they file for you, they will send them electronically. This is standard practice and couldn’t be missing from their most inexpensive package.
— Governing Documents
Governing documents are all internal documents of your business. These will help you keep things tidy when it comes to your business structure.
— Operating Agreement
An operating agreement is a document that outlines the key responsibilities and duties of your company’s members. This isn’t required by any state, but is very necessary when forming a bank account and advancing your LLC.
— IncFast Online Portal
This Incorporation Fast’s platform where you will be able to keep track of things related to your formed company.
Is the Basic Package Right for Your Business?
We rarely see so much value packed into one place and with such an attractive price tag. With all the services Incorporate Fast offers in the Basic package and for that price, this can be ideal for anyone.
Unfortunately, they do ono offer an Employer Identification Number in there Basic Package. And you absolutely need an EIN to operate your business after formation. But you can always get it as a separate service elsewhere if you wish to keep the cost down or simply file for your EIN yourself.
The Deluxe package costs $199 + state fees and has everything the Basic has, plus:
Employer Identification Number
The Employer Identification Number (EIN) is basically a social security number for your business. It allows you to file for taxes, employ people, open a bank account, etc.
— Bank Resolution Template
Incorporate Fast Inc. will provide you with the template that you will need to open a business bank account.
— Membership/Stock Certificates
These certificates will be used to assign ownership to your company members.
Is the Deluxe Package Right for Your Business?
When it comes to this package, we’re less enthusiastic. It seems that the most valuable additional service here is the EIN. But you can get this without paying $100.
Sure, there is also the bank resolution template and the ownership certificates. And in our opinion, after accounting for the EIN, they don’t charge much extra for them. So if you really want these items, this is a good deal.
If, however, you only want to form your business right now, this might not be the right package for you.
The Premium package costs $299 + state fees and has everything that the Deluxe has, but also:
— Corporate Book/Seal
They will ship a corporate binder with all of your documents to you. They will also send you a custom corporate seal to make your documents look official.
Is the Premium Package Right for Your Business?
Now, when it comes to this package, it will mostly appeal to those who have the cash to spare. New businesses usually don’t, so this won’t be for most.
However, the added cost here isn’t unreasonable if you compare it with similar offers from competitors. So, if you really want a corporate kit, you can rest assured you aren’t getting ripped off here.
Now, let’s take a look at what Incorporate Fast has to offer beyond their packages.
+ Annual Report Filing
Filing an annual report is often required by the state you form your company in.
This is a service that they already sign you up for if you select one of their packages. But they also offer it separately. That is, you don’t have to incorporate with them to ask for it.
+ S Corporation Tax Status Election
They will file the necessary form (2553) with the IRS so your company is taxed as an S corporation. This will help you avoid double taxation.
+ Change of Registered Agent
Incorporate Fast Inc. can also help you with the changing your registered agent.
+ Foreign Qualification
Do you want to start doing business in another state? No problem. Incorporate Fast Inc. will prepare and file the necessary documents so you can focus on running your business after expansion.
If you are not sure where to form your LLC, we go over and explain the best state to register a business.
+ Withdrawal of Foreign Qualification
What if for some reason you decide that you don’t want to do business in a foreign state anymore? No worries… Incorporate Fast will help you cut ties with that state.
If you ever desire to dissolve your company, they can also help you with that.
If you want to make changes to your articles of organization, they can do that for you. These can be anything from a business name change, a change in membership, your business address, etc.
If your company is dissolved and you want to get it up and running again, they might be able to revive it for you.
+ Certificate of Good Standing
A certificate of good standing is a document that verifies the existence of your company. It’s a necessary document if you want to do business in any state, so it’s convenient that you won’t have to go elsewhere to get it.
+ Certified Copies
If you want to get physical certified copies of your documents that you filed or simply PDFs, they can deliver. They documents can be very important when opening a bank account or filing for a loan.
Apostilles verify that documents such as your articles of organization are genuine. You can think of them as certifications that you will need to do business abroad.
Incorporate Fast Inc: Pros and Cons
↑ They Are Fast
While it takes weeks for most online formation companies to form your business, Incorporate Fast lives up to their name. They will file the documents with the state on the same business day that you apply. And the best thing is that they don’t charge extra for it.However, you need to know that there are factors out of their control. Every state will be different in regard to how fast you can form your LLC.
↑ They Are Experienced
Since 2002 they have helped form thousands of companies. Incorporate Fast Inc. is a well-established online formation company.
↑ Their Least Expensive Package Offers A Lot of Value
We were surprised to notice that they don’t hold much back when it comes to their Basic Package. It has most of the services you will need to form your business
↑ FREE Registered Agent Service for One Year
A registered agent is vital to running your business. We appreciate that they include it in any package you choose for that reason.
↑ Operating Agreement In All of their Packages
A lot of competitors hold many extra goodies like an operating agreement for the more expensive packages. Incorporate Fast doesn’t.
↓ There are Cheaper Options Out There
While Incorporate Fast Inc. provides a lot of value in each of their packages, we have found cheaper competitors.
↓ Not Much Customer Feedback
We couldn’t find much feedback when it comes to their services. For such an old company, this is a little odd and raised a few red flags. At least, their offers are so good that counterbalance this drawback.
Incorporate Fast Reviews
|Better Business Bureau (3 reviews)
||5 out of 5
As mentioned, there aren’t too many customer reviews of Incorporate Fast.
The good news is that the review of Incorporate Fast are all positive. More specifically, they praise Incorporate Fast Inc. for being very supportive and fast.
While it’s regrettable that there is so limited feedback here, their long experience and value make us feel more confident in them.
If you want to read them yourself, you can visit the related Better Business Bureau page.
Incorporate Fast Inc. vs LegalZoom
||Incorporate Fast Inc.
|Starting Price (minus state fees)
||Same Business Day
||30 Business Days
|Yearly Registered Agent Service Cost
|Free Registered Service for a Year
|Financial Account Authorization Letter
Now, let’s compare Incorporate Fast with one of their strongest competitors, LegalZoom.
For a fair comparison, we LegalZoom’s cheapest packages as our point of focus.
As you will see, Incorporate Fast seems more expensive at first glance. $20 more, to be exact.
However, if we examine what each of them offers, the difference in cost changes dramatically and in the opposite direction.
First of all, Incorporate Fast Inc. offers one year of free registered agent service and LegalZoom does not. And we’re not talking peanuts here. A registered agent service can cost hundreds of dollars per year, so getting it for free for the first whole year will cut down the initial cost.
Speaking of the registered agent service cost, Incorporate Fast will charge you $125 per year (once the first year passes). On the other hand, LegalZoom will charge you $299 per year!
Now, account for the cost of the service from both providers and the one-year free service that Incorporate Fast offers. In just two years of operation, you will have paid $125 with Incorporate Fast (one year for free + $125 in the second year) and $598 with LegalZoom ($299 x 2 years)!
As we said, a dramatic change in cost…
With Incorporate Fast Inc. you will also get an operating agreement if you select their cheapest package. LegalZoom doesn’t offer that. While not vital for having your business formed, it’s an important document that you might need in the future.
To be fair, of course, we need to mention that LegalZoom offers a template that will help you open a business bank account. They call it “Financial Account Authorization Letter”. While Incorporate Fast also offers this, it’s included in another more expensive package.
But Incorporate Fast offers something way more valuable here: speed. Their turn-around time is the same business day that you complete your application. LegalZoom estimated turn-around time is 30 days, instead. Tough to beat that difference in value here…
If your still on the fence, we pulled together 5 LegalZoom alternatives. Check out our article for some more valuable knowledge.
All in all, Incorporate Fast Inc. has your back during the formation process and the difficult period of compliance shortly after.
From the wide range of services to the low cost of forming your corporation or LLC, we think that they provide excellent value to their customers. You simply can’t go wrong with them.
Bottom line, if you need to form your business fast and want to limit running around for additional services, Incorporate Fast Inc. has your back.