Government budget and revenue in North Carolina, United States: official figures
North Carolina's state government took in $87.1 billion in fiscal year 2024, $7,883 per resident, 9th lowest of 50 states per person (all states: $9,318 per person). The total includes taxes, federal funds, charges and pension-fund investment income.
How much does the North Carolina state government spend?
The North Carolina state government spent $89.5 billion in fiscal year 2024, or $8,097 per resident, 13th lowest of 50 states (all states: $9,444). Spending was 39.5% higher than in fiscal year 2019 ($64.1 billion), before adjusting for inflation.
Source: U.S. Census Bureau · saved copyHow much debt does the North Carolina state government have?
North Carolina state government debt outstanding was $13.1 billion at the end of fiscal year 2024, $1,188 per resident, 6th lowest of 50 states (all states: $3,248). That equals 15% of one year's general revenue; in fiscal year 2019 the debt was $14.9 billion.
Source: U.S. Census Bureau · saved copyHow much federal funding does North Carolina get?
The federal government provided $31.4 billion to the North Carolina state government in fiscal year 2024, $2,843 per resident and 36.1% of its general revenue, 23rd highest share of 50 states (all states: 34.2%).
Source: U.S. Census Bureau · saved copyWhat are federal funds to North Carolina spent on?
Public welfare programmes, mainly Medicaid, accounted for $21.7 billion or 69% of North Carolina's federal funds in fiscal year 2024, and education for $3.7 billion (12%).
Source: U.S. Census Bureau · saved copyWhat does the North Carolina state government spend its money on?
Direct state spending on public welfare was $2,802 per resident in fiscal year 2024, 25th highest of 50 states (all states: $3,000); higher education took $1,025 per resident and highways $617.
Source: U.S. Census Bureau · saved copyHow much does North Carolina give to local governments and schools?
23.0% of North Carolina's state general spending in fiscal year 2024 ($20.5 billion) was paid to other governments, mostly local governments and school districts, 20th lowest share of 50 states (all states: 27.7%).
Source: U.S. Census Bureau · saved copyHow much tax does North Carolina collect?
North Carolina collected $40.6 billion in state taxes in fiscal year 2025, $3,628 per resident, 17th lowest of 50 states (all states: $4,503). That was 3.7% more than in fiscal year 2024 ($39.2 billion); across all states collections rose 4.3%.
Source: U.S. Census Bureau · saved copyWhat taxes does North Carolina rely on?
The individual income tax raised $17.1 billion (42.1% of state taxes, 12th highest share of 50 states) in fiscal year 2025. The general sales tax raised $12.6 billion (30.9%, 25th highest share of 50 states). The largest single tax was the individual income tax (42.1%), followed by the general sales and gross receipts tax (30.9%).
Source: U.S. Census Bureau · saved copyDoes North Carolina have corporate, property or severance taxes?
In fiscal year 2025, in North Carolina, corporate net income tax raised $1.6 billion (3.9% of state taxes); no state property tax was collected; severance tax on oil, gas, coal and minerals raised $1.8 million (0.0% of state taxes).
Source: U.S. Census Bureau · saved copyHow much money does the North Carolina state government hold in reserves?
The North Carolina state government held $132.3 billion in cash and securities at the end of fiscal year 2024, $11,969 per resident, of which $122.7 billion was in insurance trust funds such as public employee pension systems.
Source: U.S. Census Bureau · saved copyHow North Carolina compares with other states
State government revenue per person (2024)
North Carolina ranks 42 of 50, highest first. All revenue of the state government, including insurance trust income, divided by 1 July population
| Rank | Region | State government revenue per person |
|---|---|---|
| 39 | Arizona | $8,056 |
| 40 | Nevada | $8,039 |
| 41 | Idaho | $7,958 |
| 42 | North Carolina | $7,883 |
| 43 | Colorado | $7,595 |
| 44 | Missouri | $7,376 |
| 45 | South Dakota | $7,353 |
State government spending per person (2024)
North Carolina ranks 38 of 50, highest first. Total expenditure of the state government divided by 1 July population
| Rank | Region | State government spending per person |
|---|---|---|
| 35 | Arkansas | $8,482 |
| 36 | Indiana | $8,302 |
| 37 | Arizona | $8,113 |
| 38 | North Carolina | $8,097 |
| 39 | Nebraska | $8,090 |
| 40 | Colorado | $8,007 |
| 41 | Montana | $7,942 |
State government debt per person (2024)
North Carolina ranks 45 of 50, highest first. Debt outstanding at the end of the fiscal year divided by 1 July population
| Rank | Region | State government debt per person |
|---|---|---|
| 42 | Georgia | $1,254 |
| 43 | Tennessee | $1,245 |
| 44 | Indiana | $1,229 |
| 45 | North Carolina | $1,188 |
| 46 | Missouri | $1,119 |
| 47 | Arizona | $911 |
| 48 | Nevada | $888 |
Federal funds received by the state government per person (2024)
North Carolina ranks 35 of 50, highest first. Intergovernmental revenue from the federal government
| Rank | Region | Federal funds received by the state government per person |
|---|---|---|
| 32 | New Jersey | $3,125 |
| 33 | South Dakota | $3,058 |
| 34 | Nebraska | $2,944 |
| 35 | North Carolina | $2,843 |
| 36 | Illinois | $2,830 |
| 37 | Washington | $2,816 |
| 38 | Tennessee | $2,766 |
Federal funds as a share of state general revenue (2024)
North Carolina ranks 23 of 50, highest first.
| Rank | Region | Federal funds as a share of state general revenue |
|---|---|---|
| 20 | Oregon | 36.9% |
| 21 | Rhode Island | 36.8% |
| 22 | Michigan | 36.3% |
| 23 | North Carolina | 36.1% |
| 24 | Pennsylvania | 36.0% |
| 25 | Colorado | 36.0% |
| 26 | Nebraska | 34.7% |
State tax collections per person (2025)
North Carolina ranks 34 of 50, highest first.
| Rank | Region | State tax collections per person |
|---|---|---|
| 31 | Kentucky | $3,763 |
| 32 | Iowa | $3,743 |
| 33 | Mississippi | $3,707 |
| 34 | North Carolina | $3,628 |
| 35 | Nebraska | $3,614 |
| 36 | Louisiana | $3,547 |
| 37 | Tennessee | $3,496 |
Individual income tax as a share of state taxes (2025)
North Carolina ranks 12 of 50, highest first.
| Rank | Region | Individual income tax as a share of state taxes |
|---|---|---|
| 9 | Colorado | 43.5% |
| 10 | Missouri | 43.2% |
| 11 | Utah | 42.8% |
| 12 | North Carolina | 42.1% |
| 13 | Wisconsin | 40.4% |
| 14 | Delaware | 39.6% |
| 15 | Maine | 39.5% |
General sales tax as a share of state taxes (2025)
North Carolina ranks 25 of 50, highest first.
| Rank | Region | General sales tax as a share of state taxes |
|---|---|---|
| 22 | Kansas | 32.6% |
| 23 | Michigan | 32.3% |
| 24 | Wisconsin | 31.0% |
| 25 | North Carolina | 30.9% |
| 26 | Rhode Island | 30.6% |
| 27 | New Mexico | 30.3% |
| 28 | Missouri | 29.7% |
State spending on public welfare per person (2024)
North Carolina ranks 25 of 50, highest first. Direct general expenditure on public welfare, mainly Medicaid
| Rank | Region | State spending on public welfare per person |
|---|---|---|
| 22 | Pennsylvania | $3,019 |
| 23 | New Jersey | $2,953 |
| 24 | Hawaii | $2,912 |
| 25 | North Carolina | $2,802 |
| 26 | Arkansas | $2,800 |
| 27 | Mississippi | $2,742 |
| 28 | Wisconsin | $2,730 |
More on North Carolina: overview · economy and jobs · health · education and schools · poverty and living standards · the United States
Sources
- U.S. Census Bureau: Annual Survey of State Government Finances: State Government Finances, U.S. and States, 2012-2024 (table GS00STATEFIN01, amounts in thousands of dollars), read 23 October 2026 · saved copy (SHA-256 72ff59b48414…)
- U.S. Census Bureau: Annual Survey of State Government Tax Collections: historical database, fiscal years to 2025 (thousands of dollars), read 23 October 2026 · saved copy (SHA-256 bdf560cd3d8f…)
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