The U.S. Government

Because democracy only works when we understand it

Menu
State Guide1st StateEst. 1787
Delaware State Flag

Delaware DE

"The First State"

The first state to ratify the U.S. Constitution, the corporate home of over 70% of Fortune 500 companies, and a state that consistently punches far above its weight. Small enough to drive across in two hours, consequential enough to have shaped American law, finance, and government from the very beginning.

Delaware state finances at a glance

State Debt - FY2024

$3.7 billion

Total state government debt outstanding at the close of fiscal 2024, including long-term bonds and short-term borrowing across state agencies and public universities.

Tax Revenue - FY2024

$6.5 billion

Total Delaware state tax collections in fiscal 2024. Delaware has no state sales tax, so collections are led by the individual income tax ($2.5B) and business franchise and license taxes ($2.6B).

Borrowing

Delaware carries a AAA credit rating and borrows through general obligation bonds backed by its full faith and credit, sold to investors in the tax-exempt municipal market. A statutory debt limit and a self-imposed borrowing cap keep issuance well below what the state could legally support. The state reported about $224 million in interest on its debt in fiscal 2024.

Source: U.S. Census Bureau, 2024 Annual Survey of State Government Finances.

1st
State to ratify the Constitution
1.1M
Population (2025 est.)
2,489
Square miles, 2nd smallest
70%
Of Fortune 500 incorporated here
…

Last updated: