Show NEVADA MINE TAXATION the nevada tax commissioner has formulated the following rules governing the net proceeds of mines for taxation ta purposes the net proceeds of any mine shall be determined as follows from the actual value of the gross yield in any quarter year shall be deducted the following items of expense incurred in the same quarter 1 all ordinary and necessary admin adain hAra haratine tive expenses excepting a payments on principal or interest on bonis or other indebtedness b the expense of maintaining offices outside of the state of nevada all ordinary and necessary expenditures actually made for mining exclusive of general or administrative expenses including the cost of contemporaneous development and exploration of the mine itself 3 a where the transportation facilities cili ties used in conveying the mine products from the mine to the place of reduction or sale are owned or controlled directly or indirectly by the company the actual cost of operating such plant facilities exclusive of general or administrative expense b where the said mine products are transported by common carrier or by facilities cili ties not owned by the company and from which it derives no revenue the actual amount paid for carriage of the said mine products 4 a where the mine products are treated in reduction works owned or controlled directly or indirectly by the mining company the actual expense of reduction or treatment or sale of the said products b where the mine products are treated in plants not owned by the company and from the operation of which it derives no revenue the actual amount paid for the treatment or reduction of the ores and marketing of the product the actual necessary expenditures for the maintenance and repair of mine transportation por tation and milling oi 01 reduction plants may be included in the foregoing deduction but no charge whatever for depreciation or the redemption of any investment in mine ground development done prior to the quarter for which the report is made or plant construction shall be allowed the sums of items 1 2 3 and 4 shall constitute the offset deductions against the value of the gross yield and the difference in each case between the said gross yield and the said sum shall be deemed the net proceeds for the purpose of taxation to equalize the mine assessment with that of other property 80 per cent of the net proceeds determined as provided in the foregoing shall be assessed this rule applying to all mines from which the ore is extracted directly by the owners in the case of production leases the lessee shall be entitled to deduct in addition to the items enumerated the royalties actually paid to the lessor but royalties received by any lessor shall be reported separate from other receipts and 90 per cent thereof shall be assessed with no deduction whatever |