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State Guide27th StateEst. 1845
Florida State Flag

Florida FL

"The Sunshine State"

America's third most populous state and its most visited, a land of space launches and sunsets, orange groves and alligators, art deco hotels and ancient cypress swamps. From the moment Spain claimed it in 1513 to the moment Florida's recount decided a presidency, no state has shaped American history quite like the one at the end of the peninsula.

Florida state finances at a glance

State Debt - FY2024

$20.1 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

$63.1 billion

Total Florida state tax collections in fiscal 2024. Florida has no individual income tax, so collections are led by the state sales and use tax ($40B), with the corporate income tax ($6.1B) next.

Borrowing

Florida issues voter-approved general obligation bonds and revenue bonds, backed by dedicated revenues such as documentary stamp and gross receipts taxes, sold to investors in the municipal market. State policy targets a falling debt-to-revenue ratio, and Florida's tax-supported debt is low for its size. The state reported about $575 million in interest on its debt in fiscal 2024.

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

27th
State admitted to the Union
23.4M
Population, 3rd largest state
1,350
Miles of coastline
#1
Most visited state in America
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