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When starting and operating a business, you may be required to file significant amounts of paperwork, register for licenses, and stay compliant with both your state and the Federal government. In the past, you might have hired a lawyer and a CPA for this.
With Swyft Filings, you can accomplish all of the formalities, then automate it to renew. Taking advantage of this opportunity to complete all your required licensing and compliance can put you in the clear legally, and set things up for success to scale your business more easily in the future.
But, Swyft Filings is not cheap by any means if you get their registered agent service.
We’ll show you how to get your LLC and save money in the long run today.
- Swyft Filings automates the business registration and filing process so that people starting a business can more easily launch their entrepreneurial endeavors, or assist an established business to be fully compliant with less administrative burden
- Offers customers licensing and automated business formation, annual filings and legal compliance for LLCs, S and C corporations, non-profits, and dba (doing business as)
- Reduces or eliminates the need to find, hire, and pay expensive and unreliable lawyers with straightforward pricing, so there’s no confusing, hidden fees
Many people who start a successful business realize that forming a corporation or LLC has a number of immediate benefits. Registered and licensed owners of a business enjoy reduced personal liability, simple ownership transfers, business continuity, better access to capital, and (depending on the corporation structure) a few potential, significant tax benefits.
Swyft Filings Review
Swyft Filings is a company that’s helped over 250,000 businesses automatically file all the required initial registration and continued annual filings for almost a decade now.
Swyft Filings Featured Products and Service
Swyft offers to create and file articles of organization for your business in one of the following categories:
- LLC – Limited Liability Company: A majority of the advantages of a partnership or sole proprietorship are provided by LLCs, which also have some of the protections offered by C corps and S corps (more on those business structures soon). Many of the formal procedures needed by other types of corporations are not necessary for them. However, LLCs are unable to sell stock to the general public and must still maintain a sizable amount of internal documentation.
- C Corporation: Because it gives business owners the most options for asset protection and tax planning, this structure is used by the majority of large corporations. The ability to take the business public, issue stock, and be taxed separately from the company make it the only option typically available to owners who want that option. It may also appeal to larger investors more.
- S Corporation: If a S corp fails to make a profit, the owners can deduct operational losses from their personal income. Additionally, a S corp can assist business owners in avoiding the “double taxation” problem that affects C corps. In that all profits and losses are distributed to the owners and not taxed at the corporate level, S corps are treated more like partnerships. Profits are therefore only taxed once.
- Non-profit – 501c3 Nonprofits are entitled to tax exemptions because of their charitable affiliation or purpose. The nonprofit’s charitable cause must receive 100% of the profits; founders cannot receive any of the money.
Tax flexibility is a significant distinction between LLCs and sole proprietorships. Only LLC owners have the option to decide how their company will be taxed. They can choose to tax the LLC as an S-corporation or C-corporation, or they can stick with the default—pass-through taxation.
Here’s where you can check out the full range of products that Swyft Filings offers businesses.
Swyft Filings Pricing
Basic – For your business to be incorporated, Swyft Filings only charges $49 plus state filing fees, which vary by state. Under this option, they prepare and file articles of organization and confirmation of business name availability. You can hasten the filing procedure for an extra $50 fee. A free web domain name, business tax advice, and compliance reminders are also included.
Standard – If you sign up for the quarterly registered agent service, the cost is $149 plus state filing fees. Everything from the basic plan is included in the Swyft Filings Standard package. Additionally, you’ll get organizational minutes and a customized banking resolution. You can also get your federal tax identification number (TIN) or employer identification number with the aid of Swyft Filings (EIN).
Premium – Premium starts at $299/year. It includes all basic and standard services, as well as extras like express filing and tracked shipping, customized digital LLC kits, a free business website with hosting, and electronic delivery of state documents.
Digital Corporate Kit (available to premium subscribers)
In your digital corporate kit, all significant personalized corporate papers will be kept safe and always accessible on your secure cloud-based account. Your original filing papers, your bylaws or operating agreement, your resolutions, and your stock or membership registration are among these documents.
While it may be tradition, there is no legal requirement that these records be stored in an expensive, gold-embossed binder that is set aside on a shelf.
The Swyft Filings digital corporate kit features the same items as its bygone hard copy version:
- Your operating agreement or bylaws
- Your goals
- Any unissued stock or membership certificates you may have
- Ledger for stock or membership transfers.
Maintain it online and print as many copies as needed, when needed. It’s as easy as emailing someone a pdf for verification purposes as opposed to faxing or making printed copies and mailing.
Company Registered Agent
The main responsibility of a registered agent is to receive any official correspondence between your company and the government. The Swyft Filings registered agent service is created to offer businesses of all shapes and sizes an expert and reasonably priced way to complete their registered agent obligations.
Swyft Filings offers registered agent services in all 50 U.S. states. However, they’re not cheap, and one has to be careful when buying a recurring service to see the total cost per year.
An annual report, also known as a periodic report, is merely a way for state governments to stay up to date on your company’s essential facts. The annual report is generally filed with the Secretary of State’s office and involves a separate charge.
Each state has its own set of rules on the information that firms must provide in their annual reports. This annual filing also guarantees that firms comply with specific rules, such as appointing a registered agent, providing authentic contact information, and verifying the ownership of the business.
If the annual report is not submitted on schedule, most states will charge a late fee, and many states will legally dissolve the business if the annual report is more than 60 days late.
You can often be your own registered agent if you’re doing business in the state where you live, and you might want to if it saves you money.
Business Licenses You May Need
Each business has its own licensing and regulatory requirements, though there are general rules for the strictly financial side. Doing thorough research may help you better understand what you’ll need in order to begin, as well as talking to someone else like a mentor in your industry.
There are several forms of licenses business may need:
- EIN – Employee Identification Number
Swyft Filings offers business support consultants who will help you better understand your business type and specific compliance needs, as well as your market.
DBA – “Doing Business As”
Doing Business As is referred to as DBA. It’s also known as the assumed, trade, or fictitious name of your company. You can conduct business under a title other than your own by submitting a DBA application; a DBA is distinct from your name as the business owner or the legal, registered name of your company.
This is due to the fact that when a business is formed, its legal name is automatically set to that of its owner. If you own a sole proprietorship, you must legally use your name to conduct business unless a DBA application is made. Filing a DBA is typically not required, depending on the state and type of business operated.
But a DBA or LLC is necessary if you intend to conduct business under a name other than your own.
Pros and Cons of Swyft Filings
Thorough search around the web of ratings, customer comments, reviews, etc.
- Offers a variety of services to bring all your compliance under one roof for owning your LLC, S or C Corp, or Non-profit and staying legally cleared to operate while shielding your personal liability
- Stated 100% Satisfaction 60-day money back guarantee or Swyft will refund you all their Swyft service fees (minus state government filing fees)
- Cheap to get started
- Some customers report being overcharged or charged too often when they weren’t expecting it. What this was likely was a misunderstanding of the registered agent service billing cycle, which should be more clearly explained on their website.
- Registered agent services are completed through a 3rd party provider, which makes them more expensive than just finding one on your own.
- Depending on where you file, a registered agent may not be optional, and you’ll have to split your registered agent services with your annual filing if you don’t go with Swyft for everything.
The main complaints with Swyft Filings on the BBB stems from miscommunication in their pricing plans, whether by offering introductory prices that go up after a year or by failing to clearly state certain expectations.
Swyft Filings Company Info
Swyft Filings Address
3 Greenway Plz Ste 1320
Houston, TX 77046-0305
Swyft Filings Customer Service/Support Contact Phone Number:
Conclusion: Is Swyft Filings Legit?
Swyft Filings offers a free incorporation guide to its website visitors, where you can also get a good general idea of the documents you’ll be required to have and file as a business owner. Their strong points are competitive pricing to complete the most basic things people starting businesses need to be concerned with.
However, you’ll want to know how you’ll be handling your registered agent duties before you sign up with them, as in my personal opinion, the potential of $149/quarter seems a bit pricey. Depending on your state and situation, you might even save by filing with Swyft Filings and then registering as your own agent, where possible.
Frequently Asked Questions – Swyft Filings
Swyft Filings is a reasonably priced limited liability company (LLC) formation service that includes business formation services, compliance alerts, a personalized digital company kit, tax identity acquisition, registered agent, and other services to help you quickly launch your business.
Overall, Swyft Filings has a generally positive rating from its customers, though some reviews are mixed. The two biggest complaints are occasionally inexperienced and unknowledgable staff, and surprise increases in the price of their registered agent service, which is allowed under their terms of service and much higher than industry norms.
For the bare minimum LLC formation, it costs $49 + state fees. However, you may still require a registered agent service if you are forming in a state where you do not live, which accrues an additional fee. If you live in the state where you operate your business, you can elect yourself to be the registered agent to remain compliant with your state laws.