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36 §2856. Amount of tax

36 ME Rev Stat § 2856 (2019) (N/A)
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§2856. Amount of tax

The amount of the annual excise tax on a mining company shall be the sum of the excise taxes due on each mine site. The excise tax due on each mine site shall be the greater of the following:   [PL 1981, c. 711, §10 (NEW).]

1.  Tax on facilities and equipment.  The value of facilities and equipment multiplied by 0.005; or

[PL 1981, c. 711, §10 (NEW).]

2.  Tax on gross proceeds.  The gross proceeds multiplied by:

A. If net proceeds are greater than zero, the greater of the following:

(1) 0.009; or

(2) A number determined by subtracting from 0.045 the quotient obtained by dividing:

(a) Gross proceeds, by

(b) Net proceeds multiplied by 100.   [RR 2013, c. 2, §45 (COR).]

B. If net proceeds are equal to or less than zero, then 0.009.   [RR 2013, c. 2, §45 (COR).]

[RR 2013, c. 2, §45 (COR).]

SECTION HISTORY

PL 1981, c. 711, §10 (NEW). RR 2013, c. 2, §45 (COR).

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