annual report 23 st annual executive strategic planning conference october 2009
TRANSCRIPT
ANNUALREPORT
23st Annual ExecutiveStrategic Planning ConferenceOctober 2009
By the Numbers• The Numbers
– 875,000 domestic business entities• 275,000 corporations• 600,000 alternative business entities
– 648,000 active UCC statements
• Market Share – 63% of Fortune 500– 87% of all new U.S. IPOs since January 2003– 7% of new domestic business entities
• LLCs (9%); LPs (25%); Statutory Trusts (90%)
– 1 business entity per capita
The Headlines• Markell Wins Delaware Governor’s Race
– Fox News – November 4, 2008
• Markell Makes 3 More Picks for Cabinet– WBOC-TV – January 13, 2009
• Delaware Quality Award recipients honored at UD– University of Delaware Daily – February 9, 2009
• “Put Delaware, Wyoming, Nevada on G20 Tax Haven List”: Luxembourg Prime Minister
– EU Business – March 31, 2009
• Stalled IPO Market Shows Signs of Life– CNN Money – April 6, 2009
• Delaware Legislature Addresses Shareholder Access– Metropolitan Corporate Counsel – May 4, 2009
• Delaware House OKs Budget Cuts, Tax Initiatives– Dover Post – June 30, 2009
• Another Sarbanes-Oxley: Threatening Small Business with the “Beneficial” Ownership Bill
– Wall Street Journal - Opinion - October 13, 2009
State and Local Revenues Fiscal Year 2007 – 2010 Forecast
Actual
FY 2007
Actual
FY 2008
Actual
FY 2009
Forecast
FY 2010
Entity Taxes (net of refunds) 622.4 665.1 705.2 743.2
Business Entity Fees 65.5 63.4 50.8 73.0
UCC Fees 13.0 13.6 11.2 12.6
Expedited Revenue 24.4 24.0 18.2 17.0
Local Gov’t Revenue Sharing 12.4 12.4 10.6 10.0
TOTALS
$737.7 $778.5 $796.0 $855.8 % GROWTH
6.4% 5.5% 2.2% 7.5%
121,136
46,600
86,009
112,614
55,335
93,388
114,170
64,493
104,502
119,363
71,899
121,387
123,306
91,384
137,505
127,127
103,916
149,634
101,360
95,544
134,164
81,000
100,000
129,000
0
50,000
100,000
150,000
200,000
250,000
300,000
350,000
400,000
2002$15.8M
2003 $17.2M
2004$18.5M
2005 $20.0M
2006 $22.5M
2007 $24.7M
2008 $22.1M
2009 F$20.2M
UCC Activity(2002-2009 Forecast)
UCC 1 UCC 3 Searches (UCC 11)
36,424
47,723
5,860
1,517
32,664
55,381
5,929
1,722
33,636
68,641
7,7531,913
34,377
87,630
8,8023,200
34,733
96,831
9,948
3,868
35,700
111,820
9,777
4,449
29,501
81,923
7,623
2,581
25,000
68,000
5,0501,400
0
20,000
40,000
60,000
80,000
100,000
120,000
140,000
160,000
180,000
2002 2003 2004 2005 2006 2007 2008 2009F
New Entity Formations(2002 - 2009 Forecast)
Statutory Trusts
LP/LLPs
LLCs
Corporations
ANNUALREPORT
Questions &Discussion