Nevada Administrative Code (Last Updated: January 6, 2015) |
Chapter362 Taxes on Patented Mines and Proceeds of Minerals |
PROCEEDS OF MINERALS |
General Provisions |
NAC362.085. Annual statement of gross yield and claimed net proceeds: Penalty for failure to file.
Latest version.
- If a taxpayer fails to file the statement required by NRS 362.110, the Department shall impose a penalty pursuant to NRS 362.230 in the following amounts:
1. For net proceeds or royalties not exceeding $5,000, the penalty is 10 percent of the net proceeds or royalties or $100, whichever is less.
2. For net proceeds or royalties greater than $5,000 but not exceeding $10,000, the penalty is $500.
3. For net proceeds or royalties greater than $10,000 but not exceeding $50,000, the penalty is $1,000.
4. For net proceeds or royalties greater than $50,000 but not exceeding $100,000, the penalty is $2,500.
5. For net proceeds or royalties of more than $100,000, the penalty is $5,000.
(Added to NAC by Tax Comm’n, eff. 9-6-96; A by R161-05, 2-23-2006)