§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).