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U.S. State32nd State โ€ข May 11, 1858
Minnesota State Flag

Minnesota MN

"The North Star State"

The land where the Mississippi begins as a trickle, where iron ore built American industry, and where Bob Dylan and Prince proved that the cold north can produce the world's most transcendent art.

Minnesota state finances at a glance

State Debt - FY2024

$17.0 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

$35.7 billion

Total Minnesota state tax collections in fiscal 2024, led by the individual income tax ($13B) and the general sales tax ($8.5B).

Borrowing

Minnesota holds a AAA rating and issues general obligation bonds backed by its full faith and credit, sold to investors in the tax-exempt municipal market. A share of every biennial bonding bill is constitutionally dedicated to trunk highways. The state reported about $497 million in interest on its debt in fiscal 2024.

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

5.7M
Population
32nd
State (1858)
11,000+
Lakes
15+
Fortune 500 HQs
โ€ฆ

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