U.S. Business Formations Rose 16% in First 10 Months of 2026

October’s national total was about 8% higher than the 532,456 formations recorded a year earlier and 4.5% above September. Registered Agents Inc projects approximately 6.7 million formations for 2026, compared with 5.9 million in 2025; the company said the final figure will depend on activity in the remaining months.

Florida led October with 62,687 formations, followed by Texas with 46,446 and California with 41,156. Delaware recorded 32,193 and Wyoming 25,935, completing the top five. The three largest markets all posted annual gains: 6.6% in Florida, 11.8% in Texas and 2.2% in California.

Among states outside those high-volume markets, Colorado had the largest year-over-year increase, at 46.7%. Kentucky rose 38.7%, Louisiana 34.9% and Missouri 32.6%. The report noted policy and investment developments in those states, including Kentucky’s January 2026 income-tax reduction from 4% to 3.5%, but cautioned that such factors do not establish a direct cause for higher registrations.

Registered Agents Inc publishes the report on the second Tuesday of each month, using filings from Secretaries of State and equivalent agencies in all 50 states and Washington, D.C., cross-referenced with U.S. Census information. It counts newly formed legal entities when formation documents are filed, including single-member LLCs, holding companies and entities that may never hire employees. The company says this differs from measures focused on business applications associated with employer activity, so the totals are not directly interchangeable.