DALLAS – Arkansas ended fiscal 2013 with a $300 million surplus, Gov. Mike Beebe said Tuesday, but much of the surplus may be from taxpayers who paid in 2012 to avoid a higher federal income tax bill.

The state collected $5.027 billion in fiscal 2013, the Department of Finance and Administration said in its monthly revenue report. The total is $299.5 million more than budgeted for the year.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.