cENTRALLY aSSESSED PROPERTIES sECTION

NET PROCEEDS OF MINERALS

Authority

Senate Bill No. 2–Committee of the Whole was passed by the 25th Special Session of the Nevada Legislature convened on December 8, 2008, to consider solutions to the general fund revenue shortfall.
SB-2 is an act relating to state financial administration:
	Temporarily accelerating the collection of the tax upon the net proceeds of minerals;
	Temporarily requiring persons who extract minerals (Operators) to also pay the tax on the estimated royalties based on the estimated production for that year;
	Section 16 of this bill provides that the collection of the tax on net proceeds of minerals reverts back to the former method of collection on actual proceeds beginning on July 1, 2011.
Existing law provides for the taxation of the net proceeds of minerals based upon the actual net proceeds from the preceding calendar year (NRS 362.100-362.240). Also the existing law mandates Royalty recipients also file a separate report for 2008 production year per NRS 362.110(3).
The new law amended by SB – 2 now requires any person extracting any mineral (Operator) in this State to file a statement which shows the estimated gross yield and estimated net proceeds from each operation for the current calendar year and an estimate of all royalties that will be paid during the current calendar year. (NRS 362.110 - NRS 362.115 - NRS 362.130 – NRS 362.170)
This bill requires the taxpayer to calculate and make payment of the tax based upon the estimated net proceeds and royalties for the current calendar year. For the full text of SB – 2, please click on the following link–

http://www.leg.state.nv.us/25thSpecial/Bills/SB/SB2_EN.pdf

Forms & Instructions

NPM Annual Reports Completed Annual Reports must be filed with the Department of Taxation no later than February 16, 2012 The Annual Reports below may be downloaded and filled out electronically before printing and attaching an original signature, or they may be printed and filled in manually.       NPM Annual Report: Royalties   NPM Annual Report: Operators NPM Annual Report: Geothermal Operators ANNUAL PROJECTION COVER LETTER & INSTRUCTIONS ANNUAL PROJECTION FORM (DUE March 1)   PROPERTY TAX RATES BY TAX DISTRICT   NPM TAX RATES BASED ON NET TO GROSS   NPM CALENDAR
NPM Quarterly Reports
OPTIONAL QUARTERLY REVISED ESTIMATED REPORTING FORM INSTRUCTIONS
OPTIONAL QUARTER 1 REVISED ANNUAL ESTIMATE FORM
OPTIONAL QUARTER 2 REVISED ANNUAL ESTIMATE FORM
OPTIONAL QUARTER 3 REVISED ANNUAL ESTIMATE FORM
OPTIONAL QUARTER 4 REVISED ANNUAL ESTIMATE FORM
PROPERTY TAX RATES BY TAX DISTRICT (pending approval - June 2012)
NPM TAX RATES BASED ON NET TO GROSS
NPM CALENDAR

If you have any questions regarding the forms or instructions, please call one of the mining appraisers listed under the CONTACT US section of the main Centrally Assessed page