47-1205. DEFINITION OF VALUABLE MINERAL. The term "valuable mineral" for purposes of this act, shall be deemed to include not only gold, silver, copper, lead, zinc, coal, phosphate and limestone, but also any other substance not gaseous or liquid in its natural state, which makes real property more valuable by reason of its presence thereon or thereunder and upon which depletion is allowable pursuant to section 613 of the Internal Revenue Code, provided, however, that sand and gravel are not included in this definition.
History:
[47-1205, added 1977, ch. 93, sec. 4, p. 192.]
Structure Idaho Code
Chapter 12 - LICENSE TAX FOR PRIVILEGE OF MINING AND EXTRACTING ORES
Section 47-1202 - NET VALUE OF ORE TO BE USED AS MEASURE OF TAX — HOW DETERMINED.
Section 47-1203 - STATEMENT OF NET PROCEEDS FROM MINING OR EXTRACTING ORES — OR FROM ROYALTY.
Section 47-1204 - STATEMENT AS TO ENTIRE GROUP.
Section 47-1205 - DEFINITION OF VALUABLE MINERAL.
Section 47-1206 - PAYMENT OF MINE LICENSE TAX.
Section 47-1208 - TAX DEFICIENCY COLLECTION AND ENFORCEMENT PROCEDURES.