Inc Authority Review: How It Helps Small Businesses to Incorporate
Small business owners often face a dilemma of whether to incorporate their business or not. Incorporation can provide many benefits, such as limiting personal liability, gaining access to business loans and credit, and building credibility. However, the process of incorporation can be daunting, especially for those with little experience in legal matters. Inc Authority offers an easy and affordable way for small businesses to incorporate. In this Inc Authority review, we will explore the features, pricing, and benefits of this service to help you decide if it is the right choice for your business.
Starting a small business is a significant accomplishment, but incorporating it can be an even greater challenge. Incorporation requires legal expertise, extensive paperwork, and can be costly. Inc Authority is a service that simplifies the incorporation process and provides small businesses with affordable solutions. In this review, we will examine the features, pricing, pros, and cons of Inc Authority to help you determine whether it is the right choice for your business.
2. What is Inc Authority?
Inc Authority is a company that offers incorporation services to small businesses. They have been in the industry for over 30 years and have helped over 130,000 businesses incorporate. Their services include preparation and filing of articles of incorporation, registered agent services, corporate bylaws, banking resolution, and tax ID number (EIN) application. They also provide a free business name search to ensure that the chosen name is available.
3. How Does Inc Authority Work?
To get started with Inc Authority, you need to select a package that suits your business needs. Once you have chosen a package, you need to fill out a simple online form with your business information. Inc Authority will then prepare and file the necessary paperwork with the state. They will also provide you with a free business name search and registered agent services.
4. Features of Inc Authority
Free Business Name Search
Inc Authority provides a free business name search to help you choose a unique name for your business. This service ensures that the name you choose is available and does not conflict with any existing trademarks.
Registered Agent Services
A registered agent is a person or entity that receives legal documents and notices on behalf of your business. Inc Authority provides registered agent services as part of their packages. This service ensures that your business receives important legal documents in a timely manner.
Preparation and Filing of Articles of Incorporation
Inc Authority will prepare and file the necessary paperwork with the state to incorporate your business. This service includes the preparation of articles of incorporation, which is a legal document that establishes your business as a corporation.
Corporate Bylaws
Corporate bylaws are a set of rules that govern the internal affairs of your business. Inc Authority provides corporate bylaws as part of their packages. This service ensures that your business complies with legal requirements and operates smoothly.
Banking Resolution
A banking resolution is a legal document
A banking resolution is a document that authorizes the opening of a bank account for your business. Inc Authority will provide a banking resolution as part of their packages, making it easy for you to set up a bank account for your corporation.
Tax ID Number (EIN)
A tax ID number, also known as an Employer Identification Number (EIN), is a unique nine-digit number assigned by the IRS to your business. This number is necessary to open a bank account, hire employees, and file taxes. Inc Authority will apply for a tax ID number on behalf of your business.
5. Pricing of Inc Authority
Inc Authority offers three packages:
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Starter Package: $0 + state fees
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Executive Package: $149 + state fees
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Tycoon Package: $299 + state fees
The Starter Package is free, and you only need to pay the state fees, which vary by state. This package includes the preparation and filing of articles of incorporation, registered agent services for one year, and a business name search.
The Executive Package includes all the features of the Starter Package, plus corporate bylaws, a banking resolution, and a tax ID number (EIN) application.
The Tycoon Package includes all the features of the Executive Package, plus a business website, business email address, and a business credit evaluation.
Inc Authority also offers additional services, such as annual report filing, amendment filing, and dissolution services, at an extra cost.
6. Pros of Using Inc Authority
Easy and Affordable Incorporation
Inc Authority provides an easy and affordable way for small businesses to incorporate. Their packages are competitively priced, and they offer a free package that only requires you to pay state fees. The incorporation process is straightforward, and Inc Authority takes care of all the paperwork.
Personalized Customer Support
Inc Authority provides personalized customer support to their clients. Their team of experts is available to answer any questions and provide guidance throughout the incorporation process. They also provide a customer dashboard where you can track the progress of your incorporation.
Satisfaction Guarantee
Inc Authority offers a satisfaction guarantee to their clients. If you are not satisfied with their services, they will refund your money.
Free Business Resources
Inc Authority provides free business resources, such as eBooks and guides, to help small businesses succeed. These resources cover topics such as business planning, marketing, and legal requirements.
7. Cons of Using Inc Authority
Limited Service Offerings
Inc Authority's services are limited to incorporation and related services. They do not offer legal advice or other business services, such as accounting or marketing.
No Legal Advice
Inc Authority does not provide legal advice to their clients. If you require legal advice, you will need to seek the services of a lawyer.
8. Who Should Use Inc Authority?
Inc Authority is an ideal choice for small businesses that are looking to incorporate. Their packages are affordable, and they provide personalized customer support. If you require other business services, such as accounting or legal advice, you will need to seek the services of a professional in those areas.
9. FAQs
What is the difference between LLC and corporation?
LLC is a type of business structure that provides limited liability protection to its owners. Corporation is a separate legal entity that is owned by shareholders.
How long does it take to incorporate with Inc Authority?
The incorporation process can take anywhere from a few days to a few weeks, depending on the state.
What is a registered agent?
A registered agent is a person or entity that receives legal documents and notices on behalf of your business.
Can I change my business name after incorporation?
Yes, you can change your business name after incorporation by filing an amendment with the state.
Does Inc Authority provide accounting services?
No, Inc Authority does not provide accounting services. However, they offer a business credit evaluation as part of their Tycoon Package.
What is a tax ID number?
A tax ID number, also known as an Employer Identification Number (EIN), is a unique nine-digit number assigned by the IRS to your business.
Can I incorporate my business on my own?
Yes, you can incorporate your business on your own. However, it can be a complex and time-consuming process, especially if you are not familiar with legal requirements.
10. Conclusion
Incorporation provides many benefits to small businesses, but the process can be daunting. Inc Authority offers an easy and affordable way for small businesses to incorporate. Their packages are competitively priced, and they provide personalized customer support. However, their services are limited to incorporation and related services. If you require other business services, you will need to seek the services of a professional in those areas.
References
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Internal Revenue Service. (n.d.). Employer Identification Number. Retrieved from https://www.irs.gov/businesses/small-businesses-self-employed/employer-identification-number-ein
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Small Business Administration. (n.d.). Limited Liability Company (LLC). Retrieved from https://www.sba.gov/business-guide/launch-your-business/choose-business-structure/limited-liability-company
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Small Business Administration. (n.d.). Incorporating Your Business. Retrieved from https://www.sba.gov/business-guide/launch-your-business/incorporating-your-business