§2856. Amount of tax
The amount of the annual excise tax on a mining company shall be the sum of the excise taxes due on each mine site. The excise tax due on each mine site shall be the greater of the following: [PL 1981, c. 711, §10 (NEW).]
1. Tax on facilities and equipment. The value of facilities and equipment multiplied by 0.005; or
[PL 1981, c. 711, §10 (NEW).]
2. Tax on gross proceeds. The gross proceeds multiplied by:
A. If net proceeds are greater than zero, the greater of the following:
(1) 0.009; or
(2) A number determined by subtracting from 0.045 the quotient obtained by dividing:
(a) Gross proceeds, by
(b) Net proceeds multiplied by 100. [RR 2013, c. 2, §45 (COR).]
B. If net proceeds are equal to or less than zero, then 0.009. [RR 2013, c. 2, §45 (COR).]
[RR 2013, c. 2, §45 (COR).]
SECTION HISTORY
PL 1981, c. 711, §10 (NEW). RR 2013, c. 2, §45 (COR).