A Message from the Secretary of State Jeffrey W. Bullock
Over 1.8 million legal entities incorporated in Delaware
As the First State recovers from the COVID-19 pandemic, Delaware's Corporate Franchise continues to experience unprecedented growth.
In 2021, we added more than 336,407 business entities throughout the franchise. Total business entities topped 1.8 million at year-end with 36.9 percent growth in new formations of LLCs and 20.8 percent in the number of new corporations added.
Consistent with past years, the First State continues to be the domicile of choice for members of the Fortune 500 at nearly 66.8 percent.
Approximately 93 percent of all U.S. initial public offerings in the calendar year 2021 were registered in Delaware.
Total General Fund Revenue Growth for FY 2021
Total Business Entity Formations in 2021
Business owners and investors have the discretion to select any jurisdiction as their legal home for their business entity. However, they consistently choose Delaware for four main reasons:
Delaware's General Corporation Law is widely regarded as the most advanced and flexible business formation statute in the nation.
The Court of Chancery is a unique, centuries-old business court that has written most of the modern U.S. corporation case law.
Delaware's corporate and legal services community has unparalleled expertise in the application of Delaware Corporate Law and receives strong, bipartisan support from the Delaware General Assembly and our Governor for its efforts to continuously improve the state's laws.
The Delaware Division of Corporations provides prompt, friendly, and professional service and strives to continually improve based on what we hear from our customers.
To continue making Delaware the premiere destination to incorporate, it's important to ensure that our laws are optimal for engaging in ethical and profitable business. During my term as Delaware's Secretary of State, I have served on the National Association of Secretaries of States' Executive Board several times.
I have also chaired the organization's Business Services Committee—the committee that spearheads initiatives on best state practices regarding corporate registrations, electronic business filings, and other related services—in an effort to lead in the development of common-sense regulations at the federal and state levels.
Total Number of Entities in Delaware
Total Business Entities
Division of Corporations General Fund Revenue
Net Business Entity Taxes
Business Entity Fees
Total General Fund Revenue
Total Uniform Commercial Code (UCC) Transactions CY 2019 - 2021
It has been my honor and privilege these past 13 years as Secretary of State to be able to promote the great state of Delaware in many ways, including domestically and abroad. You have my commitment to maintaining this long tradition of ensuring that the Division of Corporations works hard every day to meet the needs of our customers as well as provide them with the best experience possible.
Jeffrey W. Bullock Jeffrey W. Bullock serves as the 80th Secretary of State and oversees the nearly two dozen agencies, including the Division of Corporations, at the Delaware Department of State.
This page and its contents serve to fulfill the stipulations of Title 8 Delaware Code § 515, Annual Report of the Secretary of State.