Shadow State's run lasted 5 issues. The first issue was published in December 1995 and the final issue was published in May 1996. The first two issues also contained a Fatale storyline that continues in the Fatale series. Shooter has a writing credit in the first three Shadow State issues.

Each issue of Shadow State contains a comic within a comic. The main character in Shadow State reads comics and each issue of Shadow State contains a mini-story titled "Image Isn't Everything" that the main character is reading. The mini-story is a parody of the Image Comics extravagant drawing style and dialog.

There are two known Shadow State variants. Issues 1 and 2 were also produced as black and white promotional issues given free to retailers. These promotional copies were printed on lower-quality paper and contain no color on the cover or the interior pages. Aside from the lack of color, the promotional issues were the same as the colored retail versions.