Is Inc Authority Right For You? Read Our Comprehensive Inc Authority Review and Find Out

If you don’t have the bandwidth to deal with things like state-specific laws and guidelines for LLC formation and Article of Organization, filing through Inc Authority is a great move.

LLC formation is the cornerstone service provided by Inc Authority. The service allows entrepreneurs to file their Articles of Organization online, boosting convenience. While conducting research for this Inc Authority review, we found that in addition to the LLC formation, Inc Authority also has an online form for setting up Corporations.

If you’re not sure whether to go with an LLC or form a Corporation, better consult Inc Authority before making a call.

Moreover, if you want to apply for your organization online, just select the organization type and your state. The online form will ask you for the owner/co-owners/partners’ details and some other basic information.

After you fill in the basic information, you’ll be prompted to add additional services like EIN and custom bylaws to your free plan. The description provided for every service makes it easy for you to decide whether you need the service or not.

Based on your requirement, you can skip these if you don’t want them at the moment. If you don’t want any add-ons, the Corporation or LLC formation service by Inc Authority is entirely free. This is a big plus point for Inc Authority in our review.

However, you’ll have to pay your state fees for business formation, which is usually around $50-$400, depending on the state. The entry-level service bundle also includes Inc Authority’s registered agent service for one year.

One feature the online form lacks is that it doesn’t show the expected TAT (turnaround time) for the formation process. You can see the turnaround time prediction at the checkout screen, though. The average processing times are allotted depending on the state.

In most cases, we’ve seen a turnaround time of 10 days to 15 days on average.

The registered agent service by Inc Authority is entirely free for the first year. The service charges are $99/year, second year onwards.

Before we get into the specifics of the registered agent service that Inc Authority offers, let’s understand why this service is necessary.

Registered Agents (RAs) are businesses or people who act as points of contact for an organization’s official correspondence. The organization itself appoints them to make sure that it doesn’t miss any critical information or correspondence from the government.

At the time of registration, all corporations and LLCs are required to nominate an RA. the RAs have to be available for correspondence throughout the year.

In case you forgot to appoint an RA or your RA isn’t available during office hours, your business might face legal penalties. In the worst-case scenario, you can even lose your business.

Although the business owners can appoint themselves as RA, it can result disastrously for your business. The regulatory requirement of RAs creates a considerable burden for business owners, making them unable to focus on business operations.

This is where the registered agent service by Inc Authority comes in handy. You should definitely hire a registered agent under the following conditions.

• You travel a lot and don’t have a single address where you’ll always be available
• You don’t reside in the United States but have a business entity here
• Your business has several locations
• You don’t want your contact details to be public.

Inc Authority can be your registered agent without any charge for the first year. While doing this Inc Authority review, we learned that the service renews automatically, so if you don’t want to continue using it, better cancel it before your plan ends.

Looking at Inc Authority’s terms of service, you will learn that the company isn’t providing the RA service by itself. Instead, it acts as a partner company for other RAs. Still, it’ll be convenient for you to use their registered agent service because it’s free for the first year and it comes as a part of the Inc Authority Suite.

What makes Inc Authority the best pick for registered agent service is that it offers digital notifications, which means that you get important documents and information instantly.

The Inc Authority’s line of free services include document preparation for the start-up and filing them with the respective departments.

While doing this Inc authority review, we also found that the company provides reliable support to keep their customers in confidence.

From deciding whether to form an LLC or S-Corporation to filing Articles of Incorporation, the legal procedures often overwhelm entrepreneurs. Hence getting help from a document filing service provider becomes necessary.

During our Inc Authority review process, we found that all of their plans include the option to file IRS Form 2553, aka S-Corp election.

Although the process for filing an S-Corporation online is very similar to filing an LLC, you’ll still require to fill out the info about your company and founders.

Similar to LLC formation, the S-election document filing service by Inc Authority is completely free of cost and that’s a great advantage.

During our Inc Authority review, we found it fascinating that they provide cloud storage for free. If you use their services, you can store your start-up documents for easy and anytime access.

Not only this, the Inc Authority delivers your start-up documents in physical copy as well as to your online storage. This is another plus point that we wanted to share with you in this Inc Authority review.

At this time you might start wondering how could a company provide businesses with all these services for free. We’ll cover this in a later section of this Inc Authority review.

Although it’s not a lifetime consultation for corporate taxes, the service is quite lucrative considering it comes free of cost with all the formation packages.

During our Inc Authority review process, we tried seeking solutions for some of the common tax problems businesses face and the support staff was excellent at providing the answers.

However, you cannot compare the free tax planning consultation with more specialized services. These freebies are aimed at selling tax services and are not full-fledged services in their own right.

What we understood during our review is that Inc Authority provides both dedicated tax consulting services and free consultation.

Generally, though, we recommend businesses to use a dedicated tax consultation service, the free consultation from Inc Review can still be of value.

Talking about the dedicated tax planning consultation, the Inc Authority can help you with business tax prep, accounting, and expert tax advice.

The reason why you should choose dedicated tax planning services from Inc Authority is that it’ll save you time and money on taxes and bookkeeping.

Corporate Bylaws, aka corporate agreement, is an essential document for LLCs. Although not all the states in the US require LLCs to have a Corporate Bylaws document, it’s still helpful in guiding start-ups throughout their operations.

Only a few states in the US, including Delaware, Maine, California, New York, and Missouri, require LLCs to have a corporate agreement. The LLCs are required to have the document in hand; there is no need to send the agreement to state government bodies.

If you’re planning to start an LLC in these states, it’s better that you create a corporate agreement. However, even if you aren’t located in the states where corporate agreements are necessary, it’s always recommended to have one.

This document contains useful information like:

• How your LLC will be managed
• How you will distribute the profits
• How the ownership is divided among the members
• What’s the procedure for a member who wants to exit your LLC
• What if a member passes away
• And more!

Such written laws and operational agreements will help you manage your LLC effectively.

During the Inc Authority review, we found that the company doesn’t provide operating agreement drafting service with its entry-level free service bundle. You can contact Inc Authority to get your corporate agreement created. The price for this service was $89 at the time when we did this Inc Authority review.

Financing their startup has always been an issue for entrepreneurs. It gets even more challenging considering lenders and banks use business credit reports and ratings to evaluate a startup for financial feasibility.

In addition to helping lenders and financial institutions evaluate the credit status of the business, startups create business credit reports to:

• Separate personal credit from business credit
• Meet their lending needs
• Forecast future credit needs
• Measure their financial health
• Extend their cash flow
• Build business credibility
• Avail lower interest rates

If you’re new to business financing and don’t know how and where to get the finances, you should opt for the BizCredit Express Package by Inc Authority. This package includes three months of credit coaching, a multi-tiered development system, and credit learning software designed to enhance your startup’s creditworthiness.

During our Inc Authority review, we found that the company has a well-thought process to coach startups for business credit. Following are the steps to the Inc Authority business credit coaching program:

• Step 1: Inc Authority determines the goals for a startup’s business credit.
• Step 2: Conducting business financial analysis to assess current business credit profile and create a plan.
• Step 3: Assess the business credit profile to make sure the company possesses the key elements for business credit.
• Step 4: Helping startups to obtain more trade lines.
• Step 5: Applying for credit based on your startup’s profile.

Overall, bundled with other services, the business credit coaching service by Inc Authority is quite useful and was worth mentioning in this Inc Authority review.

It’s true that businesses can face penalties or closure if they don’t meet the license requirement. Almost every business requires licenses to meet federal, state, county, and local government requirements and legally run their business.

During our Inc Authority review, we found that both Executive and Tycoon bundles provide business licensing reports for the majority of licenses a business would require. The report consists of business license reporting software that tells you which licenses you would need for your business based on your niche and location.

Although this software solution doesn’t file for the licenses for you, it can be a lifesaver for your business by helping you understand what licenses you need.

The Inc Authority website states that their entry package includes a free “Business Credit & Funding Analysis” service, while their higher-tier bundles include “Business Credit & Funding Evaluation.”

Although we couldn’t identify how the former differs from the latter for this Inc Authority review, they both appear to involve loans and credits. Of course, the credit line will depend on your business type and scale.

Another thing is that Inc Authority is not a lending company. Therefore the business financing services are provided by its third-party partners, which include Tap Local, NAV, and Bank of America).

For business owners who don’t have any idea about how to get business finance, the business credit and funding service by Inc Authority can be very helpful.

If you plan on hiring employees for your business or opening a bank account, you have to file for EIN (Employee Identification Number). We got introduced to the EIN filing service by Inc Authority during our review.

EIN is a number assigned by the IRS department for tax purposes. In layman’s terms, EIN is your business’ own social security number.

The company charges $49 for the EIN filing service, which can be very affordable and convenient for businesses of all scales.

You don’t have to buy the service on the Inc Authority website separately; it’s an add-on service that you can get during checkout when you’re purchasing the entry-level formation bundle.

Moreover, the EIN filing service is included with all other higher-level bundles offered by Inc Authority.