NRS362.140. Rate of tax upon mineral extraction and royalties. [Effective November 25, 2014, if the provisions of Senate Joint Resolution No. 15 (2011) are approved and ratified by the voters at the 2014 General Election.]

      1.  There is hereby imposed an excise tax upon mineral extraction by each extractive operation. Except as otherwise provided in this section, the rate of tax upon mineral extraction by each extractive operation depends upon the ratio of the net proceeds to the gross proceeds from that operation as a whole, according to the following table:

 

      Net Proceeds as Percentage                                           Rate of Tax as Percentage

              of Gross Proceeds                                                                of Net Proceeds

 

Less than 10........................................................................................... 2.00

10 or more but less than 18................................................................. 2.50

18 or more but less than 26................................................................. 3.00

26 or more but less than 34................................................................. 3.50

34 or more but less than 42................................................................. 4.00

42 or more but less than 50................................................................. 4.50

50 or more............................................................................................... 5.00

 

      2.  If the combined rate of tax ad valorem, including any rate levied by the State of Nevada, for property at the situs of the extractive operation is more than 2 percent, the minimum rate of tax upon mineral extraction by the operation is an amount equal to the combined rate of tax ad valorem multiplied by the net proceeds.

      3.  There is hereby imposed an excise tax upon royalties. The rate of tax upon royalties is 5 percent, regardless of the rate of tax upon mineral extraction which is imposed on the extractive operation that pays the royalties.

      4.  If a geothermal operation is taxable pursuant to NRS 362.100 to 362.240, inclusive, the rate of tax upon mineral extraction by the operation is an amount equal to the combined rate of tax ad valorem, including any rate levied by the State of Nevada, for property at the situs of the operation multiplied by the net proceeds.

      5.  Except as otherwise provided in subsection 4, if an extractive operation extracts minerals for which the net proceeds in a calendar year exceed $4,000,000, the rate of tax upon mineral extraction by the operation is an amount equal to 5 percent multiplied by the net proceeds.

      [Part 75:99:1891; C § 1147; RL § 3687; NCL § 6481]—(NRS A 1989, 38, 1537; 2013, 3129, effective November 25, 2014, if the provisions of Senate Joint Resolution No. 15 (2011) are approved and ratified by the voters at the 2014 General Election)