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Dues for extracting gold

Started by Alexandru H., August 31, 2011, 04:54:21 AM

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ulmont

#15
August 31, 2011, 09:25:48 AM
Quote from: grumbler on August 31, 2011, 09:17:35 AM
The US has no royalties on gold mining at the present.

Several states do.

viper37

#16
August 31, 2011, 10:44:53 AM
Currently 12%, increasing to 16% of profit from the mine.  It has been roughly equivalent to 2% of the gross products extracted.
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#17
August 31, 2011, 11:05:31 AM
Quote from: Alexandru H. on August 31, 2011, 07:19:09 AM

I'm not talking about income tax but about the special taxes (called dues in the English Language)

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grumbler

#18
August 31, 2011, 08:09:02 PM
Quote from: ulmont on August 31, 2011, 09:25:48 AM
Quote from: grumbler on August 31, 2011, 09:17:35 AM
The US has no royalties on gold mining at the present.

Several states do.
Which ones?
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PDH

#19
August 31, 2011, 08:41:18 PM
Quote from: grumbler on August 31, 2011, 08:09:02 PM

Which ones?
Wyoming, for one.

" As the holder of a permit for mining in Wyoming from the Department of Environmental Quality, you are required to file annually for gross products and severance tax purposes. Any valuable deposit that is severed should be reported for tax purposes. These valuable deposits include, but are not limited to, coal, uranium, trona, bentonite, sand and gravel, decorative stone, copper, gold, silver, diamonds, jade, limestone, gypsum, or any other solid mineral that is severed for private or commercial use or sale."
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ulmont

#20
August 31, 2011, 08:58:19 PM
Quote from: grumbler on August 31, 2011, 08:09:02 PM
Quote from: ulmont on August 31, 2011, 09:25:48 AM
Quote from: grumbler on August 31, 2011, 09:17:35 AM
The US has no royalties on gold mining at the present.

Several states do.
Which ones?

To avoid doing an exhaustive survey, I'll just list five in addition to Wyoming (which PDH already mentioned):
New Mexico, Nevada, South Dakota, Utah, and Arizona.
http://www.tax.newmexico.gov/All-Taxes/Pages/Severance-Tax.aspx
http://www.lvrj.com/news/35301239.html
http://law.justia.com/codes/south-dakota/2010/title-10/chapter-39/statute-10-39-43/
http://www.cppa.utah.edu/publications/finance_tax/Severance%20Tax.pdf
http://www.azdor.gov/Portals/0/AnnualReports/2000/Page%2057.pdf

I further note that the link above for Utah asserts that 35 states have a severance tax of some sort.

Eddie Teach

#21
August 31, 2011, 09:56:27 PM
 :lol:

I'm betting you're a really good lawyer Ulmont.
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#22
August 31, 2011, 10:15:07 PM
I had never heard of a severance tax before.  Thanks for the education ulmont.
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