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Delaware Division of

2019 Annual Report

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

Delaware’s business entity franchise saw another year of healthy growth in 2019. The total number of LLCs registered in the First State crossed the one million mark and we continue to be the domicile of choice for members of the Fortune 500 and newly public companies, with approximately 89% of all U.S. initial public offerings last year.

Statutory changes adopted by the Delaware General Assembly in 2019 consisted of relatively minor revisions to promote consistency and provide additional clarity with respect to business entity division. In keeping with longstanding tradition, the revisions were recommended by a panel of experts in Delaware corporate law and jurisprudence, and acted on by the Legislature in a process largely free of political influence.

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Photo of Secretary of State Jeffrey W. Bullock

Image representing 68.8 percent of all Fortune 500 companies are incorpated in Delaware and more than 1.5 million legal entities are incorporated in Delaware.

Image of total general fund revenue growth for FY 2019

Image of percent of U.S based initial public offerings in 2019

Division of Corporations General Fund Revenue

  2017 FY 2018 FY 2019 FY
Net Business Entity Taxes 998.8 1161.8 1228.2
Business Entity Fees 110.8 119.0 123.0
UCC Fees 19.5 23.4 25.2
Total Revenue 1,129.1 1,304.2 1,376.4

Total Uniform Commercial Code (UCC) Transactions CY 2017 - 2019

  2017 CY 2018 CY 2019 CY
UCC 1 121,457 129,128 133,187
UCC 3 141,588 144,369 147,419
Searches 240,824 239,478 249,263
Total Number of Transactions 503,869 512,975 529,869

Business Entity Formations CY 2017-2019

  2017 CY 2018 CY 2019 CY
LLCs 143,996 157,142 165,910
LPs/LLPs 11,517 12,432 13,513
Corporations 41,553 44,669 45,405
Statutory Trusts 1,391 1,762 1,761
Totals 198,457 216,005 226,589

Bar Graph of Business Entity Formations CY 2017-2019 Totals

Image of Business Entity Formation for year 2019

Image of Business Entity Formation for year 2018

Image of Business Entity Formation for year 2017

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

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