TITLE 47

MINES AND MINING

CHAPTER 12

LICENSE TAX FOR PRIVILEGE OF MINING AND EXTRACTING ORES

47-1201.  License tax to be measured by one percent of the net value of ores mined — Definition of royalty. (a) Tax on mining or on receiving royalties. For the privilege of mining in this state, both placer and rock in place, every person, copartnership, company, joint stock company, trust, corporation or association, however and for whatever purpose organized, engaged in mining, upon or receiving royalties from any quartz vein or lode, or placer or rock in place mining claim, in this state containing gold, silver, copper, lead, zinc, coal, phosphate, limestone, or other precious and valuable metals or minerals, or metal or mineral deposits, shall pay to the state of Idaho, in addition to all other taxes provided by law, a license tax equal in amount to one percent (1%) of the net value of the royalties received or the ores mined or extracted as determined under section 47-1202, Idaho Code, said tax to accrue during the taxable year that the product is sold or used and shall on the last day of such taxable year become a lien on property in this state of such person, copartnership, company, joint stock company, trust, corporation, or association, said tax to be due and payable on or before the fifteenth day of the fourth month following the close of the taxable year.

(b)  Definition of royalties. For the purpose of paragraph (a) of this section and chapter, the word "royalties" shall be construed to mean the amount in money or value of property received based upon the quantity or value of minerals extracted by any person, copartnership, company, joint stock company, trust, corporation, or association, having any right, title or interest in or to any tract of land, or any economic interest in minerals as defined by section 613 of the Internal Revenue Code, in this state for which permission has been given to another to explore, mine, take out and remove ore therefrom.

(c)  Definition of taxable year. The term "taxable year" with respect to any taxpayer means the taxable year elected for income tax purposes under the provisions of section 63-3010, Idaho Code.

History:

[47-1201, added 1935 (1st E.S.), ch. 65, sec. 1, p. 182; am. 1941, ch. 106, sec. 1, p. 188; am. 1972, ch. 99, sec. 1, p. 209; am. 1977, ch. 93, sec. 1, p. 189; am. 2001, ch. 207, sec. 1, p. 703.]