
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
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
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.

