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State Guide49th StateEst. 1959
Alaska State Flag

Alaska AK

"The Last Frontier"

The largest state by a staggering margin, Alaska is a place of extremes, the highest mountains, the longest coastlines, the most remote communities, the most dramatic wilderness, and an oil-funded economy unlike anything else in America. It is, in nearly every sense, a world unto itself.

Alaska state finances at a glance

State Debt - FY2024

$5.7 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

$2.0 billion

Total Alaska state tax collections in fiscal 2024. Alaska levies no personal income tax or general sales tax, so this modest total is led by oil and gas production (severance) taxes and the corporate income tax, while most state money comes from petroleum royalties and Permanent Fund earnings that are not counted as taxes.

Borrowing

Alaska issues voter-approved general obligation bonds for projects such as transportation, and also uses state authorities and certificates of participation, all sold to investors in the municipal bond market. The state's large Permanent Fund and past oil revenue have kept its tax-supported debt low. The state reported about $166 million in interest on its debt in fiscal 2024.

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

49th
State admitted to the Union
663K
Square miles, largest state
~733K
Population, least dense state
$70B+
Alaska Permanent Fund value
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