Annual Report from the Delaware Division of Corporations

Delaware’s Secretary of State recently put out a report recapping the 2008 year as a whole for the Division of Corporations.

Some of the notable statistics are:

In Autumn 2008 there was one domestic entity per Delawarean

Delaware remained the chosen home of 64% of Fortune 500 companies

67% of the new formations were LLC’s

24% were Corporations

9% were either a LLP/LP or a Trust

121,628 new Delaware entities were created in 2008

40,154 less Delaware entities we’re created in 2008 versus 2007

882,000 active entities are in Delaware

Even with the decrease of over 40,000 entities from one year to another, Delaware Division of Corporations is still a driving force in generating income for the State of Delaware. Roughly 30% of the State of Delaware’s income as a whole comes from the Secretary of State Division of Corporations office.

Delaware is not immune to the economic downturn other states of the nation are facing. To combat a huge budget deficit, many of the fees associated with an amendment, renewal, Good Standing Certificate, Certified Copy, Apostille have gone up drastically. The late fee for all Delaware Franchise tax payments has increased from $100 to $200.

One thing that will not change is Delaware’s reputation for having the best corporate law structure in the nation!

To view the entire report click here: http://corp.delaware.gov/2008AR.pdf