A Message from the Secretary of State - Jeffrey W. Bullock

In 2018 Delaware’s corporate franchise continued its pattern of strong growth, adding new corporations and alternative entities to our registry at a near-record pace. Revenues generated from taxes and fees also grew in the previous year, continuing to expand despite a relatively weak IPO market. Delaware remains the home of the vast majority of top U.S. companies, including more than two thirds of the Fortune 500 and 80 percent of all firms that go public.

Updates to the Delaware General Corporation Law and alternative entity statutes enacted in 2018 introduced new tools that allow businesses greater flexibility in formation and organization. Notable examples include new provisions governing series LLCs and entity divisions. Policymakers in Delaware continue to recognize and respect the nature of our business entity laws as “living documents” that require revisions and updates annually to ensure that our state remains the worldwide leader in corporate jurisprudence.

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Photo of Secretary of State Jeffrey W. Bullock

Image representing 66.8 percent of all Fortune 500 companies are incorpated in Delaware and more than 1.3 million legal entities are incorporated in Delaware.

Image of total general fund revenue growth for FY 2018

Image of percent of U.S based initial public offerings in 2018

Division of Corporations General Fund Revenue

  2016 FY 2017 FY 2018 FY
Net Business Entity Taxes 976.5 998.8 1161.8
Business Entity Fees 104.8 110.8 119.0
UCC Fees 19.3 19.5 23.4
Total Revenue 1,100.6 1,129.1 1304.2

Total Uniform Commercial Code (UCC) Transactions CY 2016 - 2018

  2016 CY 2017 CY 2018 CY
UCC 1 113,808 121,457 129,128
UCC 3 133,581 141,588 144,369
Searches 223,796 240,824 239,478
Total Number of Transactions 471,185 503,869 512,975

Business Entity Formations CY 2016-2018

  2016 CY 2017 CY 2018 CY
LLCs 128,852 143,996 157,142
LPs/LLPs 10,337 11,517 12,432
Corporations 40,253 41,553 44,669
Statutory Trusts 1,724 1,391 1,762
Totals 181,166 198,457 216,005

Bar Graph of Business Entity Formations CY 2015-2018 Totals

Image of Business Entity Formation for year 2018

Image of Business Entity Formation for year 2017

Image of Business Entity Formation for year 2016

This page and its contents serve to fulfill the stipulations of Title 8 Delaware Code § 515, Annual Report of the Secretary of State.

Corporations Skyline