Delaware has been involved in gaming and horse racing since colonial times. The state offers more forms of gambling than any other state with the exception of Nevada. Delaware casinos and gambling is a massive industry considering the size of the state. In Delaware, there are more than a million registered corporations, meaning there are more corporations than people. Franchise taxes on Delaware corporations supply about one-fifth of its state revenue. The state’s attractiveness as a tax haven is large because of its business-friendly corporation law. publicly traded companies and 63% of the Fortune 500 are incorporated in Delaware. On December 7, 1787, Delaware became the first state to ratify the Constitution of the United States, and has since been known as “The First State”. The state takes its name from Thomas West, 3rd Baron De La Warr, an English nobleman, and Virginia’s first colonial governor. It is bordered to the south and west by Maryland, north by Pennsylvania, and east by New Jersey and the Atlantic Ocean. Delaware is one of the 50 states of the United States, in the Mid-Atlantic or Northeastern region. Other states are Alaska, Oregon, Montana, and New Hampshire.
Neighboring states know Delaware as the “Home of Tax-Free Shopping,” and it is one of only five states without sales tax.
