No it does not exist. Never has and never should. If we are willing to create a state of Palestine again, (we did in Jordan and it was a mistake, they immediately attacked their neighbor), why are we not willing to create a state of Manson for Charles Manson who only killed and ate a dozen people. Has Charlie not killed enough to deserve a state? Are we going to create a State for every terrorist group that is willing to declare war on the US?
Why?
No it does not.
No more than a country called "Levant" exists.
As for "should it", most civilized people instinctively know: No.
Unless and until those murderous savages learn to at least pretend to be civilized (as Saudi Arabia does, for instance), they don't deserve a country; even a miserable one.