15-23-505. Assessment of royalties. Upon receipt of the list or schedule setting forth the names and addresses of any and all persons owning or claiming royalty and the amount paid or yielded as royalty to the royalty owners or claimants during the year for which the return is made, the department of revenue shall proceed to assess and tax the royalties on the same basis as net proceeds of mines are taxed as provided by 15-6-131.
History: En. Sec. 3, Ch. 188, L. 1935; re-en. Sec. 2090.3, R.C.M. 1935; amd. Sec. 196, Ch. 516, L. 1973; amd. Sec. 64, Ch. 566, L. 1977; R.C.M. 1947, 84-5406; amd. Sec. 19, Ch. 693, L. 1979.
Structure Montana Code Annotated
Chapter 23. Centrally Assessed Property
15-23-502. Net proceeds tax -- statement of yield
15-23-503. Net proceeds -- how computed
15-23-504. Lien of tax and penalty
15-23-505. Assessment of royalties
15-23-506. False or fraudulent reports
15-23-507. Taxation and payment on royalty interests
15-23-508. Lien of tax -- enforcement of payment
15-23-510. through 15-23-514 reserved
15-23-515. Net proceeds for talc -- statement -- value
15-23-516. Net proceeds for vermiculite -- statement -- value
15-23-517. Net proceeds for limestone -- statement -- value
15-23-518. Net proceeds for industrial garnets and byproducts -- statement -- value -- exemption
15-23-519. and 15-23-520 reserved
15-23-521. Examination of records by department
15-23-522. Surface ground and improvements not exempt
15-23-523. Dissolved corporations to make returns on net proceeds of mines and pay tax accrued