NRS361.0753. Exemption of extracted minerals and royalties from mineral extraction. [Effective November 25, 2014, through June 30, 2053, if the provisions of Senate Joint Resolution No. 15 (2011) are approved and ratified by the voters at the 2014 General Election.]

Latest version.

The following personal property is exempt from taxation:

1. Extracted minerals, which are measured by the gross yield and net proceeds from mineral extraction, if the person who engaged in the mineral extraction is subject to the excise tax upon mineral extraction pursuant to the provisions of NRS 362.100 to 362.240, inclusive, but only when the extracted minerals are in the possession of the person who engaged in the mineral extraction.

2. The royalties received from mineral extraction if the person who received the royalties is subject to the excise tax upon royalties pursuant to the provisions of NRS 362.100 to 362.240, inclusive.

(Added to NRS by 2013, 3114, effective November 25, 2014, through June 30, 2053, if the provisions of Senate Joint Resolution No. 15 (2011) are approved and ratified by the voters at the 2014 General Election)

                    
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