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State Guide8th StateEst. 1788
South Carolina SC
"The Palmetto State"
Where the Civil War began, where the first shots of revolution were absorbed by spongy palmetto logs, and where a state once synonymous with the deepest divisions in American history elected its first Black senator from the South since Reconstruction. South Carolina is ancient and evolving, a Lowcountry of tidal marshes and antebellum grandeur, an Upstate of world-class factories, and a Grand Strand of 60 miles of Atlantic shoreline.
South Carolina state finances at a glance
State Debt - FY2024
$15.4 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
$18.0 billion
Total South Carolina state tax collections in fiscal 2024, led by the general sales tax ($6.4B) and the individual income tax ($6.2B).
Borrowing
South Carolina issues general obligation bonds backed by its full faith and credit, with the constitution capping annual debt service at 5 percent of general revenue, plus revenue bonds for specific projects. All are sold to investors in the tax-exempt municipal market. The state reported about $280 million in interest on its debt in fiscal 2024.
Source: U.S. Census Bureau, 2024 Annual Survey of State Government Finances.
8th
State to ratify the Constitution
5.3M
Population (2025 est.)
#2
Peach-producing state in the U.S.
1861
Year the Civil War began at Fort Sumter