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In this review, we’ll get straight to the point and discuss the things you should be aware of about BetterLegal which includes:
- The true pricing of BetterLegal’s LLC formation services
- Time for formation expected to be completed
- BetterLegal’s reliability, customer reviews Support offerings, and much more
In addition, we’ll give clear explanations of the many other relevant, formation-related services that BetterLegal offers.
Below is a quick summary of our findings. Below, you’ll find our more comprehensive review, which details our findings and explains all you need to know about BetterLegal.
Is BetterLegal the Right Choice for You?
BetterLegal is unusual among firms that offer formation services because it only offers a single LLC formation and a single incorporation package. While the package includes excellent add-ons like Operating Agreement or Bylaws drafting includes some unneeded services, too.
Overall, we were delighted with the ease of use on BetterLegal’s website and simple electronic filing. Prices of services offered were easily found, for the most part.
BetterLegal’s prices on ongoing services, like registered agent services and annual compliance, were solid. They also provided more filing add-ons than most other smaller competitors.
You can visit BetterLegal.com yourself, or to find out more about the elements we used to assess BetterLegal’s service Read on!
BetterLegal Quick Overview
Established in 2017, and located in Austin, Texas, BetterLegal is a relatively small player within the business formation industry.
Like many of its young peer companies, BetterLegal tries to emphasize its effectiveness. On their website you’ll see the words:
We’re a 21st century business that makes the process quick, easy and inexpensive without the time and paper.
The company is indeed able to boast incredible turnaround times as well as an easy-to-use website.
Similar to several other small-scale company formations, however, BetterLegal uses third parties to offer a variety of services, like its registered agent service. They also offer several services through partner firms, including banks as well as online accounting companies, as well as at least one insurance company.
Though they focus primarily on business formation, BetterLegal provides many other solutions for creating and running a company. Among the additional services BetterLegal provides include:
- Operating Agreement and Bylaws drafting
- A business license and permit search service.
- Compliance services, such as submission of annual report
- Amendment filings, for example, ones required to change your business’s name location, state of operations, as well as member details
The pricing structure for BetterLegal’s formation is simple. Unlike their competitors, which tend to offer a variety of packages for formation, BetterLegal offers its formation bundle at a single cost.
BetterLegal’s Formation Bundle is available to LLCs as well as standard corporations (C-corps). We’ll go over the bundle of services offered. BetterLegal also provides a variety of other services, including annually-billed subscriptions or set charges for the formation of businesses. We will discuss these further, under the “Services” portion of this review.
BetterLegal’s Formation and Incorporation Package: $299 plus state fees
BetterLegal’s sole package for incorporations and forms is comparable to many of its competitors’ middle-tier packages. It has more features than a typical bare-bones formation.
For a fixed $299 cost, which includes applicable state fees, here’s what’s included:
Articles of Organization or Incorporation: The documents officially establishing your corporation or LLC with your state. BetterLegal promises same-day filing and prompt return of your documents after the state has processed them.
EIN filing: EINs (Employer Identification Numbers) are utilized to help the IRS to track companies. Many firms require an EIN. The good news is that applying for one is quick and easy. The whole process is online in a matter of minutes using the IRS’s EIN filing website page.
Operating Agreements or Bylaws: The documents set out the guidelines for how your LLC or corporation will be managed. While they aren’t legally required in most states, we think they are important to all business owners.
Banking Resolution: A document stating who is allowed to create a business account as well as perform other banking activities on behalf of a business. The document must be signed if you plan to establish a bank account for your business.
Website: BetterLegal will provide you with a domain, and set up a basic website or “online store with inventory management services.” Business owners can choose that they want to purchase a premium plan later on.
Tax Analysis: Basic analysis of the business’ tax situation performed by a third-party associate of BetterLegal.
insurance evaluation: An evaluation of the insurance requirements of your company, with service offerings then provided through a third-party partner of BetterLegal, CHUBB Insurance.
We’ll go into greater detail about the overall value of this program little further within the report.
BetterLegal vs Competitors Pricing
Below, you’ll find our table that compares BetterLegal’s formation prices with those of its main rivals.
The prices listed on this page are not part of BetterLegal’s package pricing. They are standardized for comparison with other companies.
We define Fundamental Formation, Full Form, and Full Formation + Website in the table below.
For more information about the cancellation and refund policies of BetterLegal, you have to dig through a great deal of legalese on the Terms of Service Page.
Here’s what BetterLegal has to say about canceling their registered agent service:
To cancel the automatic renewal of your RA Service, you must notify BetterLegal of your intent to cancel by calling our Customer Service Line at (512) 969-2339, emailing us at firstname.lastname@example.org, or by canceling online through your account portal.
Although it isn’t explicitly stated however, we believe this policy applies to all recurring fees, such as BetterLegal’s annual compliance program. Get An Llc Idaho
In the case of other fixed-fee offerings BetterLegal’s policies are simple: “All purchases through the Website are final and will not be refunded.”
Below are some of the areas where we believed BetterLegal was particularly strong.
BetterLegal provides information about its turnaround time on its main website. They offer same-day filing for all their formations, meaning your Articles of Organization or Incorporation will be delivered to the authorities of the state on the same day you submit them through BetterLegal.
The company also states that they’ll send you your documents within two days. We assume this isn’t accounting for actual states’ processing times, which can be several weeks – still, it appears like BetterLegal does everything on their end to make things happen in the quickest manner possible.
Many reviews confirm BetterLegal’s claims. A number of reviews we reviewed, like the one below, discussed the firm’s speedy turnaround time on formations.
BetterLegal’s same-day filing applies to all orders. You don’t have to pay an extra fee to avail internal prioritization, which is something that some of BetterLegal’s competitors charge extra for.
Since a quick turnaround time is often one of the two most important factors for those creating new businesses (the other being formation price) this is an enormous benefit for BetterLegal.
BetterLegal is a small company which means we do not have as many reviews to base our decisions on as we’d like. However, the reviews we have are pretty solid.
BetterLegal sports an 4.8 rating out of 5. Trustpilot
They also have a 4.88 out of 5 for the BBB.
The company is Better Business Bureau accredited as also, with an A+ rating.
The reviewers of BetterLegal seem to have nice things to say all over all areas. They appreciate the company’s clarity as well as its turnaround time and price (even even though we don’t think their prices are very impressive).
Limited customer support
Smaller companies in formation tend to be more agile, efficient, and cost-effective than larger companies. However, many small formation companies also lack the support staff that larger players have.
BetterLegal is no exception here.
While the BetterLegal website offers the option of online chat but there’s no contact information found on their main pages. To locate those bits of info, you have to dive all the way to the bottom of the privacy webpage. Even there, there’s no info on when phone lines are available or how fast email responses are made.
BetterLegal It appears that BetterLegal similar to the majority of their competitors heavily relies on automated customer service.
The ideal scenario is that your order will go through without a hitch, and you’ll not need to call the service representative. However, we do see a lack of service rep availability as an issue, though.
Below, we’ll discuss some of the main formation-related services that BetterLegal offers. We’ll discuss the reasons why and when you may need each service, and also include the prices offered by BetterLegal.
LLC Formation and Incorporation
$299 plus the state fee
BetterLegal will assist you to fill out and file the essential documents needed to form your LLC or incorporating your business.
LLCs, also known as Limited Liability Companies, are one of the most sought-after kinds of business within the United States. More flexible and simpler to manage than conventional corporations (C-corps) LLCs are able to meet less requirements for compliance and recordkeeping. They can also confer some important tax benefits via tax pass-through.
Corporations have more cumbersome regulations, but they may provide some tax or structural advantages, depending on the size of your company and industry.
If you’re unsure if you should go with an LLC or a corporation is the right business model for you, talk to an expert in small businesses or an accountant who is certified.
Both LLCs and corporations are formed by state law, usually with a given department’s Secretary of State office.
Every state has their own regulations and rules regarding the formation of LLCs. Learning about the various processes and laws applicable to your state can be a significant time-sink.
A majority of business owners who are new hire the services of a formation company, such as BetterLegal to fill out and fill out their paperwork. For LLCs, this means the filing of Articles of Organization. For corporations, that means filing Articles of Incorporation.
In their normal formation package, BetterLegal will file your documents and forward it to the relevant state authorities. The process is easy and can be completed entirely online. It’s as simple as asking straightforward questions about your business, e.g., its name as well as the name of its owner(s) or member(s) and its industry and address. Get An Llc Idaho
BetterLegal will also run a quick name check to verify that your LLC or company’s name isn’t already taken (which could result in an application being rejected).
As we noted in the upper part of this article, BetterLegal’s $299 formation price does not include state filing fees which can vary between $40 and $500 depending on your state of filing.
It is included in the Formation package
An EIN, also known as an Employer Identification Number, is a kind of tax id that most new businesses must get. Assigned to the IRS, EINs are legally mandatory for businesses that have employees. They are also required if you want to start an account with a bank for business.
It’s possible to consider your EIN as sort of being the equivalent of your business’s Social Security Number. Each one is unique, and is utilized by the IRS to keep track of the business’s activities.
The good news is that getting an EIN is an easy procedure. You can do it on the internet, by using the IRS’s EIN application page, in just moments. Just type in a few pieces of information about your business, and you’ll be assigned an EIN automatically.
Since making an application for EIN is quick and easy, we advise against any fee-based EIN filing service. Although many companies give you the option to submit your EIN at an additional cost (or as part of a larger setup package), BetterLegal automatically includes EIN filing within the sole formation package.
You can eliminate EIN registration from your basket at checkout however it will not reduce the price of your purchase in any way. We’re not pleased that BetterLegal “builds in” the cost of EIN filing and doesn’t give customers a discount for removing this unneeded service.
Operating Agreement or Bylaws
It is included in the Formation package
An Operating Agreement is among the most essential legal documents required by any LLC. Operating Agreements outline the fundamentals of how an LLC is to be run. They generally contain information like:
- Who the LLC’s owner(s) or member(s) are, as well as how the ownership of an LLC is divided among them
- Who and how is the LLC managed? LLC will be controlled
- How are profits to be distributed
- What do you do when members or owners leave or dies
- …plus other important pieces of info
A few states – California, Delaware, Maine, Missouri, and New York – legally require operating Agreement. And, even with thesestates, you don’t need to file your contract with your state; you are just required to keep it on hand.
Even so, we recommend that all LLCs in all states, draft an Operating Agreement and keep it in the company.
An Operating Agreement defines your LLC’s security of liability. Since liability protections are one of the main benefits offered by LLCs, it’s unwise to forgo them.
Operating Agreements can also assist to provide guidance in the event of unexpected situations. You probably don’t go into the business hoping that a partner will leave or a dispute over profits to occur, but having a pre-written document on hand can help you get through such situations more smoothly.
If you’re considering incorporating, instead of making an LLC, then you’ll require corporate Bylaws instead of an operating agreement. Corporate Bylaws work much like, and provide similar advantages to operating agreements.
As part of their primary set of formation services, BetterLegal will help you to draft a legal Operating Agreement or Corporate Bylaws.
In the Formation package
A bank resolution is a essential, yet simple document. A bank resolution defines which member(s) in an LLC are authorized to establish a business bank account and participate in any other banking-related activity.
Banks require you to submit a bank resolution before you can open a business banking account.
Within their formation process, BetterLegal will create a banking resolution for your business. All you’ll have to submit is information on who is allowed to establish and access a bank account in your LLC’s name.
Services offered by the website
In the Formation package
BetterLegal is one of a handful of firms that offer a web domain along with its formation package. Unfortunately, details on the service are scarce.
The main page of their package states that you’ll be able use the service to “Set up a free website or online store with inventory management.”
However, there’s evidence of upselling too in the following paragraph says: “As your business grows, transition to a paid plan to unlock more features and customization.”
BetterLegal includes a GoDaddy ribbon on their homepage However, the company directly state which third-party domain hosting partner is. There isn’t even a name that is listed in the company’s terms of services.
We’re all for openness, but we’re not happy with the BetterLegal experience in this case. We always recommend going directly to a domain hosting company or a business website builder in the first place.
Plenty of companies are specialists in these fields There’s no reason to get these services second-hand through a business formation.
Registered Agent Service
$90 for the year or $10 for each month
All corporations and LLCs must have a registered agent. While it sounds like a fancy term, the role of an agent registered is easy – they get official correspondence and serve process (legal notices, for example, lawsuits) for the benefit of a business.
Registered agents should be accessible during business hours, and they should be located in the state where your LLC or corporation is based.
Receiving official correspondence in a timely manner, and being able to respond promptly, is essential.
If you don’t respond to a compliance notice from the federal or state government, your business could lose its good standing or be assessed penalties or fees, or be dissolution. If you fail to respond to a court summons and miss your court date, your case can be automatically canceled.Get An Llc Idaho
A registered agent on the ball Then, it is vital.
Technically speaking, you could be your business’s own registered agent. However, there are numerous reasons why business owners opt to use a registered agent service.
We’d suggest using an Registered Agent service when:
- You frequently travel and are not always at one address
- You aren’t a resident within the United States
- Your business operates in several states.
- You don’t want your personal information and address made public available
Like most other formation companies, BetterLegal offers a registered agent service. Like many other small-sized formation companies, BetterLegal contracts this service out to an outside party.
The full terms and conditions of BetterLegal’s service are available here..
If you are able to bypass the transparency issue BetterLegal’s registered agent program is actually a bargain cost. You can choose to pay 10 dollars per month, or $190 for the year. This latter price is extremely affordable – many other big names in the business charge $150 per year or more.
BetterLegal’s registered agent services are an additional service that is not part of their regular formation package. This makes them somewhat of an outliersince many competitors include registered agent services in its formation plans, often with the initial year of service absolutely free.
Business License Search
Depending on what kind of business you operate or operate in, the type of industry you’re in, and the location your business is located, you might require a couple or a lot of permit and licences. They may be required at the state, local, or federal level.
Licenses can be a pain to handle, but they’re absolutely necessary. If you’re not in compliance, you may be given an enormous fine, or even have your business temporarily shuttered or even completely dissolved.
determining which licenses and permits are applicable to your specific business requires an extensive amount of research. Instead of having to comb through a lot of red tape and legalese by yourself, you can employ a firm like BetterLegal to conduct an investigation into your business’s license.
Many formation firms provide this service. The form will ask you to provide information on your business and BetterLegal will do a comprehensive search, accumulating all permits and licenses that are relevant to you and providing guidelines on how to fill them out.
Be aware that BetterLegal does not do the filing for you, but it offers the tools and details that you require to file them your self. Still, this can be a huge time-saver, particularly for businesses that are highly regulated.
$90 for the calendar year, or $10.00 per month
Most state governments require LLCs and corporations to submit some form of annual report. Usually, these reports aren’t too cumbersome or in-depth. They’re just meant to be an avenue to monitor the state’s position on the companies that operate within their territory.
The filing deadline may be fixed (e.g. every business have to submit a report by December) or dependent on your company’s founding date (e.g. If you started your business in August 2021, you’ll submit your first annual report in the month of August 2022). Some states only need you to submit a report once at least every 2 years.
Making your annual report can seem like a burden however it must not be ignored. If you fail to complete your report by the deadline, you may receive an amount of money or lose your status with the government.
Many of the formation companies, like BetterLegal provide annually-based compliance programs. For a monthly, or yearly fee, BetterLegal will send you reminders about your annual report due date. Once you’ve completed the required information the firm will draft your annual report and send it to the state for you.
The majority of states charge a minimal (under $100) cost to file annual reports. BetterLegal will accept the fee then forward the payment to the appropriate agency.
In the form package
BetterLegal also provides a small suite of third-party offerings within their corporate formation service.
Business Checking: You’ll be set up with a cost-free, no-minimum business account online. You’ll be able to use debit cards that are associated with the account and you’ll be able to issue physical checks using an online bank account.
Tax Analysis: Advice and analysis from an “leading virtual tax service”. It’s unclear how in-depth the analysis is, as well as what kind of questions you’ll be able ask.
insurance evaluation: An evaluation of the specifics of your company’s requirements in terms of insurance. The insurance services are provided through a BetterLegal partner, CHUBB Insurance, which is located in New Jersey.
Payroll Benefits, HR, and Payroll Platform A more extensive option that, unlike others, is not free when you sign up for your formation package. A wide variety of services are covered, all offered by third parties.
It’s likely that some business owners will get value out of these services, we’re more likely to avoid “offers” like these. Most of the time, these services are merely opportunities for businesses to drive business to their partners.
We recommend going directly to experts for payroll, tax, insurance and HR needs.
For bank accounts, it’s usually advantageous to choose a bank that you already have a relationship with. However, if you’re not able to find a financial institution that fits that description for you, BetterLegal’s partner offer might be a good one.
Additional Filing Services
BetterLegal offers a variety of filing services for one-time use that aren’t part of its primary setup package. Here, you’ll find them which we believe to be the most useful for business owners who are new as well as BetterLegal’s fixed-fee for each.
Internationally-domesticated foreign LLC Your LLC’s home state from one to another, $299
Restate LLC, or a corporation: Reinstates an LLC or a company that has been dissolved and is worth $199.
Terminate LLC or Corporation: Legally dissolves an LLC or corporation for $199.
Get a Certificate of Good Standing: You will receive a document from your company’s home state showing that you’re current with all your expenses and that you are in compliance with state permits and license laws. $25
Create a foreign LLC in a new state: It allows an LLC established within one jurisdiction to operate in another state. Also known as a “Foreign Qualification,” this process usually involves applying for the “Certificate of Authority” – basically, a permit to operate in a certain state. It costs $199.
Change your principal Office Address: It changes your address for business from that mentioned on your Articles of Organization or Incorporation to a different address. at a cost of $99
Add or remove members, directors or shareholders: Officially alters your company’s record to reflect changes in its directors, members or shareholders. $99
Since BetterLegal has solid reviews, an easily navigable site and an impressive track record on turnaround times We’re happy to recommend these services.
Most new business owners would prefer to file their initial filing and any add-on filing in one place, though, so we recognize this advice isn’t for everyone.
If you’re looking to find out more about the offers offered by competitors look over some of the many reviews available on this site!
What does BetterLegal do?
BetterLegal’s primary goal will be LLC registrations, formations, and incorporations. They also, though, provide a variety of services related to the formation and running of companies which include searches for business licenses and registration agent services, amendment and compliance filing services.
How much will it cost to form an LLC with BetterLegal?
BetterLegal’s LLC formation package is priced at a fixed $299, plus fees for state registration. This package comprises Articles of Organization and an Operating Agreement however it does not include a registered agent .
Is BetterLegal legit?
Yes. The company has been operational since 2017 as well as being Better Business Bureau accredited. BetterLegal also has an A+ BBB rating and an excellent review rating on Trustpilot.
Who is BetterLegal best for?
BetterLegal is ideal for those who want to pay a bit extra to have a speedy and reliable LLC registration as well as incorporation.
What are the advantages of using BetterLegal?
BetterLegal offers convenient online formations and has excellent turnaround times. However, the formation program is quite expensive. BetterLegal has also contracted a lot aspects of their services to third party partner companies.
What states does BetterLegal serve?
BetterLegal is available to all 50 states.
We recommend BetterLegal to amyone looking for a solid and quick buisness formation service. BetterLegal has a proven lightning fast turnaround, mostly a day or two, and very up front pricing on all services. They are also very well rated on the better business bureau. Get An Llc Idaho
While some larger competitors may have some services included in packages, such as registered agent etc, all things considered this is a great deal for anyone looking to do a business formation fast and easy.