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U.S. State16th State โ€ข June 1, 1796
Tennessee State Flag

Tennessee TN

"The Volunteer State"

Where country music, the blues, rock and roll, and soul were all born or shaped; where the Smoky Mountains draw more visitors than any national park; and where the atomic bomb was secretly built, Tennessee has left its mark on America in ways that go far beyond its reputation.

Tennessee state finances at a glance

State Debt - FY2024

$9.0 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

$24.2 billion

Total Tennessee state tax collections in fiscal 2024. Tennessee has no tax on wage income, so collections are led by the state sales and use tax ($14B) and the franchise and excise taxes on business ($3.1B).

Borrowing

Tennessee 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. The state's tax-supported debt is among the lowest in the country, and it uses a formal debt affordability review. The state reported about $698 million in interest on its debt in fiscal 2024.

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

7.1M
Population
16th
State (1796)
12M+
Smoky Mtn Visitors/Yr
12+
Official State Songs
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