42-5201. Definitions In this article, unless the context otherwise requires: 1. " Gross value of production" means the sum of the value of production determined for each metalliferous mineral mined by the severer. 2. " Metallic product" means any metalliferous mineral or metalliferous mineral product. 3. " Metalliferous mineral" means copper, gold, silver, molybdenum or […]
42-5202. Levy of tax A. There is levied on any severer, and the department shall collect, an excise tax, denominated as a severance tax. B. Except as provided in section 42-5203, the severance tax is in lieu of any other tax imposed upon the activities of mining and processing by article 1 of this chapter. […]
42-5203. Sales at retail; exemption This article does not apply to the gross proceeds or gross income from sales at retail which shall be taxable under article 1 of this chapter.
42-5204. Computation of the net severance base The net severance base is fifty per cent of the difference between the gross value of production and the production costs.
42-5205. Administration; allocation of revenues A. Except as otherwise provided in this section, or unless the context otherwise requires, article 1 of this chapter governs the administration of the tax imposed by this article. B. The revenue derived from eighty per cent of the tax rate imposed by this chapter is designated as distribution base […]
42-5206. Sales between affiliated persons For the purpose of this article, in determining price, the department shall recognize sales between affiliated corporations or persons or sales between units of the same corporation provided the terms of such sales are indicative of the fair market value of the subject matter of the sale.
