Michigan Compiled Laws
Act 410 of 2012 - Nonferrous Metallic Minerals Extraction Severance Tax Act (211.781 - 211.791)
Section 211.787 - Record to Be Prepared, Kept, and Preserved by Taxpayer; Inspection; Publication of Value of All Minerals.

Sec. 7.
(1) Each taxpayer shall prepare, keep, and preserve a full and complete record for each tax year of all minerals extracted from the earth in this state or beneficiated in this state, and that record shall be open at all times to the inspection of the department.
(2) Annually, the department shall publish the value of all minerals reported under this act.
History: 2012, Act 410, Imd. Eff. Dec. 20, 2012

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Structure Michigan Compiled Laws

Michigan Compiled Laws

Chapter 211 - Taxation of Real and Personal Property

Act 410 of 2012 - Nonferrous Metallic Minerals Extraction Severance Tax Act (211.781 - 211.791)

Section 211.781 - Short Title.

Section 211.782 - Definitions.

Section 211.783 - Mineral and Right, Claim, Lease, or Option; Tax Exemption; Shaft, Incline, Adit, or Value of Overburden Stripping at Open Mine; Tax Exemption.

Section 211.784 - Minerals Severance Tax; Levy; Other Tax Exemptions; Rate; Computation of Taxable Mineral Value; Payment; Transfer or Purchase of Mineral; Tax Credit for Open Mines Opened Between January 1, 2011 and June 30, 2013; First Year of Tax...

Section 211.785 - Preparation and Submission of Report by Taxpayer.

Section 211.786 - Mineral-Producing Property; Determination by Department; Notification That Property No Longer Mineral-Producing Property; Notification; List to Be Provided by State Geologist; Notice of Ceased Operations.