In observance of the Department of States’ Employee Recognition Event, the Division of Corporations will close at 10:30 a.m. on Thursday, August 18, 2022. Our normal business hours of operation will resume on Friday, August 19, 2022, at 8 a.m. General information is available on our website at www.corp.delaware.gov or you may e-mail us at corp@delaware.gov to leave a message and we will respond as soon as possible. We appreciate your understanding. Thank you. More Info

Delaware.gov logo

Delaware Division of
Corporations

Annual Report Statistics


A Message from the Secretary of State Jeffrey W. Bullock

1.8m
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.

Print Report as PDF

66.8 Percent of all Fortune 500 companies are incorporated in Delaware

12.9%
Total General Fund Revenue Growth for FY 2021
93%
93 percent of U.S. based Initial Public Offerings in 2021 chose Delaware as their corporate home.
336,407
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:

  1. 1

    Delaware's General Corporation Law is widely regarded as the most advanced and flexible business formation statute in the nation.

  2. 2

    The Court of Chancery is a unique, centuries-old business court that has written most of the modern U.S. corporation case law.

  3. 3

    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.

  4. 4

    The Delaware Division of Corporations provides prompt, friendly, and professional service and strives to continually improve based on what we hear from our customers.

Total Business Entity Formations (2019-2021)

  • 73.2% LLCs (165,910)
  • 20.0% Corporations (45,405)
  • 6.0% LPs/LLPs (13,513)
  • 0.8% Statutory Trusts (1,761)
Business Entity Formations CY 2019-2021 Totals
2019 CY 2020 CY 2021 CY
LLCs 165,910 180,376 247,003
Corporations 45,405 51,747 62,510
LPs/LLPs 13,513 15,348 24,588
Statutory Trusts 1,761 1,956 2,306
Totals 226,589 249,427 336,407
  • 72.3% LLCs (180,376)
  • 20.7% Corporations (51,747)
  • 6.2% LPs/LLPs (15,348)
  • 0.8% Statutory Trusts (1,956)
Business Entity Formations CY 2019-2021 Totals
2019 CY 2020 CY 2021 CY
LLCs 165,910 180,376 247,003
Corporations 45,405 51,747 62,510
LPs/LLPs 13,513 15,348 24,588
Statutory Trusts 1,761 1,956 2,306
Totals 226,589 249,427 336,407
  • 73.4% LLCs (247,003)
  • 18.6% Corporations (62,510)
  • 7.3% LPs/LLPs (24,588)
  • 0.7% Statutory Trusts (2,306)
Business Entity Formations CY 2019-2021 Totals
2019 CY 2020 CY 2021 CY
LLCs 165,910 180,376 247,003
Corporations 45,405 51,747 62,510
LPs/LLPs 13,513 15,348 24,588
Statutory Trusts 1,761 1,956 2,306
Totals 226,589 249,427 336,407

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
2019 CY 2020 CY 2021 CY
LLCs 1,035,872 1,109,736 1,291,911
Corporations 325,174 336,270 370,404
LPs/LLPs 109,176 117,430 137,188
Statutory Trusts 22,763 23,829 25,547
Total Business Entities 1,492,985 1,587,265 1,825,050
Division of Corporations General Fund Revenue
2019 FY 2020 FY 2021 FY
Net Business Entity Taxes 1,228.2 1,302.8 1,467.8
Business Entity Fees 123.0 127.0 148.3
UCC Fees 25.2 25.6 26.7
Total General Fund Revenue 1,376.4 1,455.4 1,642.8
Total Uniform Commercial Code (UCC) Transactions CY 2019 - 2021
2019 CY 2020 CY 2021 CY
UCC 1 133,187 128,104 151,103
UCC 3 147,419 144,073 168,124
Searches 249,263 247,459 313,459
Total Transactions 529,869 519,636 632,686

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.

Photo of Secretary of State Jeffrey W. Bullock

Sincerely,

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.


Corporations Skyline
+