Incfile vs CorpNet

Features, pricing, and contract terms compared

Patrick Ward Patrick Ward Follow Published: Sep 27, 2022

IncFile and CorpNet both have a strong focus on solopreneurs, with extensive social proof about how they help consultants and side hustle owners live the entrepreneurial dream. IncFile is one of the simplest and easiest-to-follow services for first-time entrepreneurs but can sometimes catch out unsuspecting customers unaware of add-on and recurring fees, due to their $0 pricing promotion strategy. CorpNet, while being weaker overall in the solopreneur category, has a strong ethos of transparency, leading to customers understanding exactly what they're paying for.

Content on this page does not constitute financial advice. It is intended for general information purposes only.

IncFile

4.4/5 stars

The contemporary head of the pack, IncFile is aimed squarely at bringing the entrepreneurial dreams of individuals to life. Their service is about as simple as it comes, ensuring that all complexity is removed from the process of starting a business. The rigidity of their service may make it not ideal for all, but they make it exceptionally easy to start a new entrepreneurial endeavor.

CorpNet

3.1/5 stars

In the battle for the solopreneurs, it's hard to give CorpNet many points. IncFile has them beat on ease-of-use, legacy, pricing, and processing speed. If you have to give them a tip of the hat for anything, it's transparency. CorpNet are extremely clear as to the products a particular entrepreneur is paying for, without the song and dance of a lengthy chat sequence with a gotcha price at the end. CorpNet prefers the route of a check-box, 'Good, Better, Best' model of packages that couldn't be clearer.

Summary of key differences

FeatureIncFileCorpNet
Entry price$0 + state fees$79 + state fees
Standard processing time1 business day30-40 business days
Foreign qualification fee $149 $199

Pricing Analysis: IncFile vs CorpNet

IncFile's aggressive pricing strategy of $0 + state fees for its entry-level package leaves the rest of the competition in its tracks, and CorpNet is no exception. CorpNet comes in at a respectable, but still more costly $79 + state fees. The difference narrows on the renewal with IncFile costing $119 for registered agent services annually but it still is enough to see it beat CorpNet's $149 for the same service. Foreign qualification for businesses to operate out-of-state sees IncFile rise to $149 but once again it still comes out on top compared to CorpNet's $199 foreign qualification fee.

IncFile pricing

The base pricing from IncFile is less expensive than CorpNet. However, note that pricing is impacted by state fees. For example, IncFile customers setting up an LLC in Delaware will see an initial cost of $90 (package cost plus the state LLC fee). In Wyoming, the same package would cost $200 because of the higher state fee.

CorpNet pricing

CorpNet is the more expensive formation service offering compared with IncFile. However, note that pricing is impacted by state fees. For example, CorpNet customers setting up an LLC in Delaware will see an initial cost of $169 (package cost plus the state LLC fee). In Wyoming, the same package would cost $279 because of the higher state fee.

IncFile vs CorpNet market value analysis

Market average based on analysis of 9 formation services providers.
MetricMarket AverageIncFileCorpNet
Lowest package price$156 before state fees$0 + state fees$79 + state fees
Formation processing time9 business days1 business day30-40 business days
Registered agent annual cost$152 $149 $199

User experience & onboarding

Onboarding for new Incfile customers can be completed within an hour, and they list their packages clearly on their website with no need to go through a complex vetting quiz. Incfile also offers chat support for onboarding. Using chat, a live agent walks new customers through the process and collects the required information directly in the chat.

CorpNet's initial onboarding flow is extremely straight forward - additional information is placed below the fold, but within a few clicks you are picking between 3 basic packages for your business formation. In standard 'Good, Better, Best' format, the selection of product is made extremely easy via transparent pricing and feature comparison.

IncFile's tech-esque workflow makes it easy for the novice entrepreneur to sign up for one of a few rigid packages. Those who have no idea where to start will enjoy the simplification of IncFile's modern onboarding via quiz and chat functionality. CorpNet ever so slightly pips IncFile with flexibility. While both IncFile and CorpNet transparently present 'Good, Better, Best' packages, CorpNet enables check-uncheck for certain products within those packages, creating additional customization and flexibility.

Formation speed

IncFile and CorpNet are on opposite sides of the equation when it comes to speed. IncFile prides itself on lightning fast processing speeds of one business day, specifically due to the variable times taken by each individual state to process business formation applications - a factor out of IncFile's hands. By contrast, CorpNet attempts to factor those state processing times into their estimate, but still lag behind the industry with a formation speed in the thirty to forty business day range.

Incfile's one business day promise is among the fastest turnarounds on the market. They're able to accomplish this because they err on the side of rigid, clear-cut plans rather than customized packages. Note that time can lag in some states due to limitations on state processing systems.

CorpNet's thirty to forty business day processing time is extremely high for formation services. It appears that they have not kept up with the industry which has tended towards swift processing times (knowing that there are additional state processing times after the formation service completes their portion)

Are they worth the cost?

IncFile is aimed at Solopreneurs. Their site consists of a number of resources around individuals turning their side hustles into full-time businesses, powered by IncFile. They also brag as social proof about the number of Entrepreneurs specifically that their product has helped. If you fall out of the solopreneur category i.e. looking for tax advantages or future fundraising, then the angle of IncFile may not be appropriate for you.

Solopreneurs are the explicit target of CorpNet in both their messaging and imagery. Social proof from the publications of choice for Entrepreneurs (Inc and Forbes) abounds and they focus on making the process simple for individuals looking to start a business. Consultations are also offered to help walk prospective entrepreneurs through the complexity of business formation and ongoing compliance.

The NanoGlobals editor's rating for Incfile reflects the fact that while their pricing is among the lowest in the industry, the add-on and recurring fees often come as a surprise to first-time solopreneurs using the service. Incfile is a reliable service for customers who understand the fees and the fact that registered agent fees are recurring. Incfile gets strong marks for offering a transparent and simple package pricing scheme.

The CorpNet rating by our NanoGlobals editorial team represents that they are a solid option, but that there are significantly better options on the market. Their ongoing pricing is fairly transparent and cost-effective compared to the market. CorpNet's onboarding flow is one of the easiest to follow but that's offset by initial packages that are on the mid-high end of the market. CorpNet loses substantial points for its exorbitantly long processing times, falling behind the contemporary industry norm of 1-3 business days.

Author Credentials

Patrick Ward is an expert on working with startups and new businesses. He has 8 years experience serving tech-enabled companies with staffing and growth.

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