{"id":17442,"date":"2026-05-19T01:48:27","date_gmt":"2026-05-19T01:48:27","guid":{"rendered":"https:\/\/globalnewstoday.uk\/index.php\/2026\/05\/19\/delaware-officials-update-corporate-franchise-numbers-for-the-first-time-since-2024-whyy\/"},"modified":"2026-05-19T01:48:27","modified_gmt":"2026-05-19T01:48:27","slug":"delaware-officials-update-corporate-franchise-numbers-for-the-first-time-since-2024-whyy","status":"publish","type":"post","link":"https:\/\/globalnewstoday.uk\/index.php\/2026\/05\/19\/delaware-officials-update-corporate-franchise-numbers-for-the-first-time-since-2024-whyy\/","title":{"rendered":"Delaware officials update corporate franchise numbers for the first time since 2024 &#8211; WHYY"},"content":{"rendered":"<p>Everything you need to know about what\u2019s happening in the Delaware Valley \u2013 from news and politics to science and the arts\u2013 delivered with a fresh perspective, all in an hour. Learn something new and add your voice to energizing live conversations with co-hosts Avi Wolfman-Arent and Cherri Gregg.<br \/>Gov. Matt Meyer fired former DEFAC chair Mike Houghton days after WHYY News reported on concerns he had over a lack of data. <br \/>Legislative Hall in Dover, Delaware (Emma Lee\/WHYY)<br \/><em>What are journalists missing from the state of Delaware? What would you most like WHYY News to cover? <a href=\"#Section1\">Let us know.<\/a><\/em> <br \/>The Delaware Economic and Financial Advisory Council approved budget estimates Monday that give state lawmakers nearly $200 million more to spend in fiscal year 2027. <br \/>That amount is an upward revision from March\u2019s meeting. State Sen. Trey Paradee, D-Dover and legislative head budget writer, started to immediately dampen expectations that the Joint Finance Committee would add a bunch of additional spending to the state\u2019s budget. <br \/>\u201cObviously, we had a lot of additional revenue show up this year,\u201d said Paradee, who also sits on DEFAC. \u201cAll that revenue is not necessarily sustainable, and we just have to be very careful not to build a lot of recurring expenditures into the budget. That being said, I think we have the opportunity to do some critical one-time investments.\u201d   <\/p>\n<div class=\"block block--doubleclick side-ad\" style='width:100%; padding-top: 10px;'>\n<div class=\"ad-cat-value\" data-value=\"whyy_govt-policy\"><\/div>\n<ul class=\"list list--ads double-ads\">       <!-- newsworks_medium_rectangle_300x250_top -->       <\/p>\n<li style=\"width:300px; margin:0 auto;\">\n<div>\n<div id='div-gpt-ad-1632838654069-0' style='width:300px; height:250px;'>             <script async=\"async\" src=\"https:\/\/securepubads.g.doubleclick.net\/tag\/js\/gpt.js\"><\/script>             <script type='text\/javascript'>\n              var googletag = googletag || {};\n              googletag.cmd = googletag.cmd || [];<\/p>\n<p>              googletag.cmd.push(function() {\n                googletag.defineSlot('\/1050414\/whyy_inline_300x250_1', [300, 250], 'div-gpt-ad-1632838654069-0').addService(googletag.pubads());\n                                  googletag.pubads().setTargeting(\"adcat\",\"whyy_govt-policy\");\n                                googletag.enableServices();\n                googletag.display('div-gpt-ad-1632838654069-0');\n              });\n            <\/script>           <\/div>\n<\/p><\/div>\n<p>                    <a href=\"https:\/\/whyy.org\/corporate-underwriting\/\" title=\"WHYY thanks our sponsors \u2014 become a WHYY sponsor\" class=\"ad-caption\">WHYY thanks our sponsors \u2014 become a WHYY sponsor<\/a>               <\/li>\n<\/ul><\/div>\n<p>Senate Minority Leader Brian Pettyjohn, R-Georgetown, said he agreed with taking a measured approach to spending this year, despite the windfall. <br \/>\u201cI don&#8217;t want us to start to grow the budget for when we do have that downturn and have some of those out years where revenues are going to be low,\u201d he said. \u201cIt&#8217;s encouraging, but I don&#8217;t think we&#8217;re necessarily out of the woods.\u201d         <br \/>                   <a href=\"https:\/\/whyy.org\/articles\/delaware-incorporation-growth-tax-revenue\/\" target=\"_self\" title=\"Delaware Gov. Meyer touts incorporation growth, but hasn\u2019t released tax revenue data\">                 Delaware Gov. Meyer touts incorporation growth, but hasn\u2019t released tax revenue data                  <\/a>                 <\/p>\n<p>Delaware Gov. Matt Meyer has touted a rise in business entities forming in the state, but he has not released key numbers on the growth.<br \/>2 months ago<br \/>But the public reveal of updated corporate franchise numbers stole the show for the second meeting in a row. The Delaware Department of State had not supplied the public with new numbers since May 2024. <br \/>The lack of data on corporate franchise tax revenue at March\u2019s DEFAC meeting <a href=\"https:\/\/whyy.org\/articles\/delaware-incorporation-growth-tax-revenue\/\">alarmed some current and former members, including Mike Houghton, a former chairman<\/a>. Days after WHYY News\u2019 exclusive reporting on Houghton\u2019s questions, Gov. Matt Meyer <a href=\"https:\/\/whyy.org\/articles\/delaware-former-budget-advisory-chair-mike-houghton\/\">fired him from DEFAC<\/a>. That led some lawmakers to express concern that asking tough questions of the Meyer administration could lead to political consequences. <br \/>The corporate franchise tax accounts for nearly a third of Delaware\u2019s budget and is the state\u2019s second-largest revenue source, after personal income tax. It\u2019s an annual fee that businesses pay to incorporate in the state. Large corporations are where the state really makes its money. <br \/>The tax is calculated using either a shares or assets method, with a maximum of $200,000, unless the company is a large corporate filer, in which case the fee rises to $250,000 a year. The payments are due by March 1.   <\/p>\n<div class=\"block block--doubleclick side-ad\" style='width:100%; padding-top: 10px;'>\n<div class=\"ad-cat-value\" data-value=\"whyy_govt-policy\"><\/div>\n<ul class=\"list list--ads double-ads\">       <!-- newsworks_medium_rectangle_300x250_top -->       <\/p>\n<li style=\"width:300px; margin:0 auto;\">\n<div>\n<div id='div-gpt-ad-1632838704911-0' style='width:300px; height:250px;'>             <script async=\"async\" src=\"https:\/\/securepubads.g.doubleclick.net\/tag\/js\/gpt.js\"><\/script>             <script type='text\/javascript'>\n              var googletag = googletag || {};\n              googletag.cmd = googletag.cmd || [];<\/p>\n<p>              googletag.cmd.push(function() {\n                googletag.defineSlot('\/1050414\/whyy_inline_300x250_2', [300, 250], 'div-gpt-ad-1632838704911-0').addService(googletag.pubads());\n                                  googletag.pubads().setTargeting(\"adcat\",\"whyy_govt-policy\");\n                                googletag.enableServices();\n                googletag.display('div-gpt-ad-1632838704911-0');\n              });\n            <\/script>           <\/div>\n<\/p><\/div>\n<p>                    <a href=\"https:\/\/whyy.org\/corporate-underwriting\/\" title=\"WHYY thanks our sponsors \u2014 become a WHYY sponsor\" class=\"ad-caption\">WHYY thanks our sponsors \u2014 become a WHYY sponsor<\/a>               <\/li>\n<\/ul><\/div>\n<p>Limited liability corporations, general partnerships and limited partnerships pay a flat $300 fee by June 1.         <br \/>                   <a href=\"https:\/\/whyy.org\/articles\/delaware-former-budget-advisory-chair-mike-houghton\/\" target=\"_self\" title=\"\u2018Tough questions are not welcome\u2019: Former Delaware budget advisory chair fired after questioning lack of revenue data\">                 \u2018Tough questions are not welcome\u2019: Former Delaware budget advisory chair fired after questioning lack of revenue data                  <\/a>                 <\/p>\n<p>Mike Houghton was a former Delaware Economic and Financial Advisory Council chairman and longtime member before being fired Wednesday.<br \/>2 months ago<br \/>Delaware Secretary of State Charuni Patibanda-Sanchez highlighted new business entities rising by about 15% and the total number of entities increasing by 6% in calendar year 2025, compared with the previous year.<br \/>The Meyer administration has touted the number of business entities formed in Delaware rising by 100,000 in 2025. According to data provided at Monday\u2019s council meeting, the state has largely added new LLCs and limited partnerships over the past calendar year. LLCs and LPs increased by over 130,000, while an additional 24 corporations formed in Delaware.<br \/>According to the state department, corporate franchise revenue is $9 million higher than in March, and it rose 1% compared with fiscal 2025 actual collections. Revenue from limited liability companies rose $24 million since March and is up 10% over fiscal 2025.<br \/>Corporate franchise tax revenue for fiscal year 2026 is projected at $2.1 billion. Similar to March, officials gave no growth projection for fiscal years 2027 and 2028.<br \/>                   <a href=\"https:\/\/whyy.org\/articles\/meyer-delaware-budget-2027\/\" target=\"_self\" title=\"Delaware Gov. Matt Meyer reveals his fiscal year 2027 budget, relying on spending cuts and tax and fee increases\">                 Delaware Gov. Matt Meyer reveals his fiscal year 2027 budget, relying on spending cuts and tax and fee increases                  <\/a>                 <\/p>\n<p>Meyer\u2019s recommended budget would &#8220;modernize&#8221; business formation fees and raise cigarette taxes to add state revenue.<br \/>4 months ago<br \/>During a presentation on the corporate franchise, Patibanda-Sanchez reiterated the administration\u2019s position that the lack of revenue data provided in March was consistent with the past three years and chided those for sharing \u201cconjecture, misinformation and exaggeration.\u201d<br \/>\u201cThe impact those types of statements have can ripple far beyond this ruin, and at a time when, in reality, we have turned a corner and are proving to the world that Delaware is rolling in one direction,\u201d she said. \u201cIt is critical that when we speak about the franchise, Delaware speaks in one informed voice.\u201d<br \/>However, some long-time former members of DEFAC have called the dearth of information on corporate franchise tax revenue \u201cunusual\u201d and have pointed to 2022 as an example where some revenue data was presented at the March meeting.<br \/>Former Secretary of Finance Rick Geisenberger appeared to push back on Patibanda-Sanchez\u2019s assertions. Although he said he was cutting his public comments short in light of corrections made to the state\u2019s incorporation forecast.<br \/>\u201cThe need for these adjustments were apparent to many longtime DEFAC observers as early as December and certainly in March based upon publicly available data,\u201d he said.<br \/>Geisenberger also voiced concerns over corporate franchise tax collections being a lagging indicator.<br \/>\u201cIt is totally unprecedented to have back-to-back essentially flat revenue growth when domestic equity markets are as strong as they\u2019ve been the past two years,\u201d he said. \u201cI\u2019m glad this body is asking probing and perhaps even uncomfortable questions and that the secretary is studying the drivers.\u201d<br \/>Delaware lawmakers are currently pushing <a href=\"https:\/\/whyy.org\/articles\/delaware-budget-advisory-council-legislation-permanent\/\">legislation to codify DEFAC into law<\/a>. State Sen. Paradee said Giesenberger\u2019s comments about the independence of DEFAC were \u201con point.\u201d<br \/>\u201cThis is not supposed to be a rubber stamp for the Meyer administration or any other administration, and I think that anyone who is a member of this committee should be able to come here and be able to speak freely without fear that they&#8217;re going to be terminated the next day because they somehow offended the governor or the secretary of state,\u201d he said.<br \/>The bipartisan legislation putting DEFAC into the state code passed both chambers and is headed to Meyer\u2019s desk.<br \/>Get daily updates from WHYY News!<br \/>The free WHYY News Daily newsletter delivers the most important local stories to your inbox.<br \/><i>WHYY is your source for fact-based, in-depth journalism and information. As a nonprofit organization, we rely on financial support from readers like you. Please <a href=\"\/support-our-journalism\" target=\"_blank\" class=\"no-ajaxy\">give today.<\/a><\/i><br \/>WHYY News coverage of Delaware&#8217;s state government.<br \/>                   <a href=\"https:\/\/whyy.org\/articles\/delaware-business-fees-taxes-meyer\/\" target=\"_self\" title=\"Legislation raising dozens of fees on businesses goes to Delaware Gov. Matt Meyer\u2019s desk\">                 Legislation raising dozens of fees on businesses goes to Delaware Gov. Matt Meyer\u2019s desk                  <\/a>                 <\/p>\n<p>The increases include annual taxes, miscellaneous fees and costs for expedited state services.<br \/>5 days ago<br \/>                   <a href=\"https:\/\/whyy.org\/articles\/wilmington-city-council-james-spadola-ejection-vote\/\" target=\"_self\" title=\"\u2018No kings in Wilmington\u2019: Fight over party representation on City Council heightened with move to oust former Republican\">                 \u2018No kings in Wilmington\u2019: Fight over party representation on City Council heightened with move to oust former Republican                  <\/a>                 <\/p>\n<p>Council member James Spadola served as the group\u2019s sole Republican since 2020 before switching parties last year.<br \/>1 week ago<br \/>                   <a href=\"https:\/\/whyy.org\/articles\/delaware-bill-lawmakers-international-trips\/\" target=\"_self\" title=\"Bill would force Delaware lawmakers to disclose free trips to Taiwan, other places\">                 Bill would force Delaware lawmakers to disclose free trips to Taiwan, other places                  <\/a>                 <\/p>\n<p>A lawmaker who traveled on a third party\u2019s dime wants to clarify a \u201cweird, gray area\u201d of law but some insist such \u201cgifts\u201d already must be reported. <br \/>2 weeks ago<br \/>Sarah Mueller is WHYY News\u2019 Delaware politics reporter.<br \/>12 seconds ago<br \/>13 minutes ago<br \/>4 hours ago<\/p>\n<p><span>Want a digest of WHYY&#8217;s programs, events &#038; stories?<\/span> Sign up for our weekly newsletter.<br \/>Together we can reach 100% of WHYY\u2019s fiscal year goal<\/p>\n<p>WHYY provides trustworthy, fact-based, local news and information and world-class entertainment to everyone in our community.<br \/>WHYY offers a voice to those not heard, a platform to share everyone\u2019s stories, a foundation to empower early and lifelong learners and a trusted space for unbiased news. Learn more about <a href=\"https:\/\/whyy.org\/whyy-social-responsibility-program\/\">Social Responsibility at WHYY<\/a>. It\u2019s how we live.<br \/><a href=\"tel:+1 (215) 351-1200\">215.351.1200<\/a><br \/> <a href=\"mailto:talkback@whyy.org\">talkback@whyy.org<\/a><br \/><a href=\"tel:+1 (302) 516-7506\">302.516.7506<\/a><br \/> <a href=\"mailto:talkback@whyy.org\">talkback@whyy.org<\/a><br \/>\u00a9 2026 WHYY <\/p>\n<p><a href=\"https:\/\/news.google.com\/rss\/articles\/CBMicEFVX3lxTFBIaFlZVk04c2Q2eWMtaGp4VjdmeDgzTFQwRkxndUZ6dUxEYWszV0Y5cjRITUlTUHZKbmJSUUxKZjZFT2ZLZ2I3ZE1uNjdWOUlZREk3SVl4NlZtNlNIZG1FOXFpRlhKS1hMZzc1Qmg3dS0?oc=5\">source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Everything you need to know about what\u2019s happening in the Delaware Valley \u2013 from news and politics to science and the arts\u2013 delivered with a fresh perspective, all in an hour. Learn something new and add your voice to energizing live conversations with co-hosts Avi Wolfman-Arent and Cherri Gregg.Gov. Matt Meyer fired former DEFAC chair [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":17443,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-17442","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"_links":{"self":[{"href":"https:\/\/globalnewstoday.uk\/index.php\/wp-json\/wp\/v2\/posts\/17442","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/globalnewstoday.uk\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/globalnewstoday.uk\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/globalnewstoday.uk\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/globalnewstoday.uk\/index.php\/wp-json\/wp\/v2\/comments?post=17442"}],"version-history":[{"count":0,"href":"https:\/\/globalnewstoday.uk\/index.php\/wp-json\/wp\/v2\/posts\/17442\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/globalnewstoday.uk\/index.php\/wp-json\/wp\/v2\/media\/17443"}],"wp:attachment":[{"href":"https:\/\/globalnewstoday.uk\/index.php\/wp-json\/wp\/v2\/media?parent=17442"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/globalnewstoday.uk\/index.php\/wp-json\/wp\/v2\/categories?post=17442"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/globalnewstoday.uk\/index.php\/wp-json\/wp\/v2\/tags?post=17442"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}