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.

Here’s how to get started with your LLC filing process online:

• Select Your Organization Type: Choose between LLC or corporation.
• Choose Your State: Indicate the state where you plan to register your business.
• Fill Out the Online Form: The online form will ask you for the owner/co-owners/partners’ details and some other basic information.
• Add Additional Service: 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 requirements, you can skip the additional services 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 advantage we’ve emphasized throughout this Inc Authority 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 normal business hours, your business might face consequences, including:

• Legal Penalties: Missing important deadlines or failing to respond to legal notices can result in fines or other penalties.
• Business Risks: In extreme cases, the lack of a registered agent could jeopardize your business’s standing, potentially leading to the loss of 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.

Here are some of the features of Inc Authority’s service:

• Free for the First Year: Inc Authority allows you to use their registered agent service at no cost for the first year.
• Automatic Renewal: 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 renews to avoid unexpected charges.
• Partnership with Other RAs: 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 comes as a part of the Inc Authority Suite.

• Digital Notifications: Another standout feature of Inc Authority’s service is the provision of digital notifications. This means you’ll receive important documents and information instantly, keeping you informed and compliant.

The Inc Authority’s line of free services includes document preparation for the startup 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, 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 be required 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.

In our Inc Authority review, we discovered some intriguing features regarding its document storage and delivery services.

Here’s a breakdown of what we found:

• Free Cloud Storage: Inc Authority offers complimentary cloud storage for your important startup documents. This feature allows you to store your documents securely and access them anytime, anywhere.
• Physical and Digital Delivery: When you use their services, Inc Authority not only provides you with online storage but also delivers your startup documents in physical copies. This dual delivery method ensures that you have both digital and tangible access to your essential documents.

The combination of free cloud storage and physical document delivery is designed to enhance your convenience. You can easily retrieve your documents when needed, whether you’re working from home, at the office, or on the go.

You might be wondering how Inc Authority can offer all these valuable services at no cost. 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 Inc Authority review is that the company 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 team 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 agreements, are essential documents for LLCs. Although not all the states in the US require LLCs to have a Corporate Bylaws document, it’s still helpful in guiding startups 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 a business in these states or beyond, 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.

Businesses need to be aware of licensing requirements. Failure to comply can result in severe penalties or even business closure. Almost every business, regardless of its size or industry, needs to obtain various licenses to adhere to federal, state, county, and local government regulations. These licenses ensure that your business meets all necessary legal standards.

In our Inc Authority review, we discovered that the Executive and Tycoon bundles offer comprehensive business licensing reports. These reports cover a wide range of licenses that businesses need to operate.

The business license reporting software included in these bundles is designed to identify the specific licenses required based on your business niche and geographic location.

We have to clarify that this software doesn’t handle the filing of licenses for you, but it can be a valuable resource. By using this tool, you can gain clarity on the licensing landscape specific to your industry, which can save you time and resources in the long run.

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 financing. 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 (Employer Identification Number). We were 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’s 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.