Salt Lake Telegram | 1938-02-11 | Page 13 | Utah Copper CO. Tax Base Set

UTAH COPPER un CO TAX BASE SET i JNET NET PROCEEDS i TOTAL DOUBLED I FOR 1938 LEVY I 61 Figure Is Given to State Commission A net proceeds tax base of 61 for the 1938 levy was reported reported reported re re- re- re ported to the state tax commission by the Utah Copper company Friday Friday Friday Fri Fri- day reflecting an increase of about per cent in net proceeds last year over those for 1936 The 1937 net proceeds were 30 which under the new law are doubled to obtain the base for the 1938 tax In 1937 the company's tax base was but the multiple that year was three thus making the base three times net proceeds of about in 1936 The multiple was reduced to two from three by the 1937 legislature to compensate for imposition of a anew anew anew new occupational tax of 1 per cent of gross proceeds Report Filed The re report ort was filed as that of the Copper corporation Utah mines division It was estimated the occupational tax on gross gros proceeds would be The company listed the following 1937 production Copper of which pounds were sold for and pounds valued at were unsold as of December 31 Gold sold ounces for unsold ounces valued at Silver sold ounces for unsold ounces valued at l Iol Molybdenum Listed Molybdenum sold 7 pounds for unseld unsold un un- un- un sold mId pounds valued at Crude ore royalties 3 Royalties on precipitates Platinum and palladium Operating costs were listed at