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U.S. State12th State • November 21, 1789
North Carolina NC
"The Tar Heel State"
The birthplace of powered flight, home to America's second-largest banking center, the oldest public university in the nation, and the spark that lit the modern Civil Rights Movement, North Carolina has shaped America in ways far outsized to its size.
North Carolina state finances at a glance
State Debt - FY2024
$13.1 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
$39.2 billion
Total North Carolina state tax collections in fiscal 2024, led by the individual income tax ($17B) and the general sales tax ($12B).
Borrowing
North Carolina holds a AAA rating and issues voter-approved general obligation bonds plus 'special indebtedness' such as limited obligation bonds and certificates of participation that do not require a vote. All are sold to investors in the tax-exempt municipal market. The state reported about $765 million in interest on its debt in fiscal 2024.
Source: U.S. Census Bureau, 2024 Annual Survey of State Government Finances.
11.0M
Population
12th
State (1789)
#2
US Banking Center
1903
First in Flight