1. When the Department determines from the annual statement filed pursuant to NRS 362.110 the net proceeds of any minerals extracted, it shall prepare its certificate of the amount of the net proceeds, the amount of the estimated tax paid in the prior calendar year pursuant to paragraph (a) of subsection 1 of NRS 362.115 and any additional payments made pursuant to paragraph (b) of subsection 1 of that section, and the balance of the tax due, and send a copy of the certificate to the owner of the mine, operator of the mine or recipient of the royalty, as the case may be.
2. The certificate must be prepared and mailed not later than:
(a) April 20 immediately following the month of February during which the annual statement was filed; or
(b) April 30 immediately thereafter if an amended statement is filed in a timely manner.
3. The tax due as indicated in the certificate and any penalty must be paid on or before May 10 of the year in which the certificate is received.
4. If the amount paid pursuant to paragraph (a) of subsection 1 of NRS 362.115 in the prior calendar year is less than 90 percent of the amount certified pursuant to this section as the net proceeds of any minerals extracted and royalties paid during the prior calendar year multiplied by a rate equal to the rate as determined pursuant to NRS 362.140 minus the combined rate of tax ad valorem for the county in which the operation is located, including any rate levied by the State of Nevada, the amount due must include a penalty of 10 percent of the amount by which that portion of the tax was underpaid unless:
(a) The amount paid pursuant to paragraph (a) of subsection 1 of NRS 362.115 in the prior calendar year is equal to or greater than the liability of the operation for the preceding calendar year for the portion of the tax that is equal to the net proceeds of any minerals extracted and royalties paid during that calendar year multiplied by a rate equal to the rate as determined pursuant to NRS 362.140 minus the combined rate of tax ad valorem for the county in which the operation is located, including any rate levied by the State of Nevada; or
(b) The person files quarterly reports pursuant to paragraph (b) of subsection 1 of NRS 362.115 in a timely manner for that year and the total of all payments exceeds 90 percent of the amount certified as the net proceeds of any minerals extracted and royalties paid during the prior calendar year multiplied by a rate equal to the rate as determined pursuant to NRS 362.140 minus the combined rate of tax ad valorem for the county in which the operation is located, including any rate levied by the State of Nevada.
5. If an overpayment was made on the payment of the portion of the tax upon the net proceeds and royalties equal to the net proceeds and the royalties multiplied by a rate equal to the rate as determined pursuant to NRS 362.140 minus the combined rate of tax ad valorem for the county in which the operation is located, including any rate levied by the State of Nevada, the overpayment must be credited toward the payment due on March 1 of the next calendar year. If an overpayment was made on the portion of the tax upon the net proceeds and royalties equal to the net proceeds and the royalties multiplied by the combined rate of tax ad valorem for the county in which the operation is located, including any rate levied by the State of Nevada, the overpayment must be credited toward the payment due on May 10 of the next calendar year. If the certificate shows a net loss for the year covered by the certificate or an amount of tax due for that year which is less than an overpayment made for the preceding year, the amount or remaining amount of the overpayment must, after being credited against any amount then due from the taxpayer in accordance with NRS 360.236, be refunded to the taxpayer within 30 days after the certification was sent to the taxpayer.
[4:77:1927; NCL § 6581]—(NRS A 1969, 561; 1973, 1295; 1975, 1677; 1979, 822; 1981, 809; 1987, 168, 2141; 1989, 38, 1537; 1991, 653; 1993, 1361; 1995, 41; 1999, 733; 2001, 663; 2005, 297; 2008, 25th Special Session, 16; 2009, 65; 2011, 2896; 2013, 3128, 3425; 2015, 2953; 2020, 31st Special Session, 26)
1. When the Department determines from the annual statement filed pursuant to NRS 362.110 the net proceeds of any minerals extracted, it shall prepare its certificate of the amount of the net proceeds and the tax due and send a copy of the certificate to the owner of the mine, operator of the mine or recipient of the royalty, as the case may be.
2. The certificate must be prepared and mailed not later than:
(a) April 20 immediately following the month of February during which the annual statement was filed; or
(b) April 30 immediately thereafter if an amended statement is filed in a timely manner.
3. The tax due as indicated in the certificate must be paid on or before May 10 of the year in which the certificate is received.
4. If an overpayment was made, the overpayment must be credited toward the payment due on May 10 of the next calendar year. If the certificate shows a net loss for the year covered by the certificate or an amount of tax due for that year which is less than an overpayment made for the preceding year, the amount or remaining amount of the overpayment must, after being credited against any amount then due from the taxpayer in accordance with NRS 360.236, be refunded to the taxpayer within 30 days after the certification was sent to the taxpayer.
[4:77:1927; NCL § 6581]—(NRS A 1969, 561; 1973, 1295; 1975, 1677; 1979, 822; 1981, 809; 1987, 168, 2141; 1989, 38, 1537; 1991, 653; 1993, 1361; 1995, 41; 1999, 733; 2001, 663; 2005, 297; 2008, 25th Special Session, 16; 2009, 65; 2011, 2896; 2013, 3128, 3425; 2015, 2953; 2020, 31st Special Session, 26, effective July 1, 2023)
Structure Nevada Revised Statutes
Chapter 362 - Taxes on Patented Mines and Proceeds of Minerals
NRS 362.030 - County assessor to assess surface of patented mines and mining claims; exceptions.
NRS 362.040 - Exclusion of assessment from roll.
NRS 362.060 - Who may make affidavit.
NRS 362.070 - Contiguous patented mines or mining claims: Performance of work on one mine.
NRS 362.090 - One affidavit may be recorded for labor on several patented mines or mining claims.
NRS 362.105 - "Royalty" defined.
NRS 362.110 - Annual statement of gross yield and claimed net proceeds; annual list of lessees.
NRS 362.120 - Computation of gross yield and net proceeds; required reports.
NRS 362.140 - Rate of tax upon net proceeds.
NRS 362.150 - Liens for taxes on proceeds of minerals.
NRS 362.200 - Powers of Department: Examination of records; hearings.