362.105 - “Royalty” defined. - Nevada Statutes

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Statutes > Nevada > Title-32 > Chapter-362 > Assessment-and-taxation-of-net-proceeds-of-minerals > 362-105

362.105 “Royalty” defined. As used in NRS 362.100 to 362.240, inclusive, unless the context otherwise requires:

1. “Royalty” means a portion of the proceeds from extraction of a mineral which is paid for the privilege of extracting the mineral.

2. “Royalties” do not include:

(a) Rents or other compensatory payments which are fixed and certain in amount and payable periodically over the duration of the lease regardless of the extent of extractions; or

(b) Minimum royalties covering periods when no mineral is extracted if the payments are fixed and certain in amount and payable on a regular periodic basis.

(Added to NRS by 1975, 135; A 1989, 35)

State Codes and Statutes

Statutes > Nevada > Title-32 > Chapter-362 > Assessment-and-taxation-of-net-proceeds-of-minerals > 362-105

362.105 “Royalty” defined. As used in NRS 362.100 to 362.240, inclusive, unless the context otherwise requires:

1. “Royalty” means a portion of the proceeds from extraction of a mineral which is paid for the privilege of extracting the mineral.

2. “Royalties” do not include:

(a) Rents or other compensatory payments which are fixed and certain in amount and payable periodically over the duration of the lease regardless of the extent of extractions; or

(b) Minimum royalties covering periods when no mineral is extracted if the payments are fixed and certain in amount and payable on a regular periodic basis.

(Added to NRS by 1975, 135; A 1989, 35)

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State Codes and Statutes

Statutes > Nevada > Title-32 > Chapter-362 > Assessment-and-taxation-of-net-proceeds-of-minerals > 362-105

362.105 “Royalty” defined. As used in NRS 362.100 to 362.240, inclusive, unless the context otherwise requires:

1. “Royalty” means a portion of the proceeds from extraction of a mineral which is paid for the privilege of extracting the mineral.

2. “Royalties” do not include:

(a) Rents or other compensatory payments which are fixed and certain in amount and payable periodically over the duration of the lease regardless of the extent of extractions; or

(b) Minimum royalties covering periods when no mineral is extracted if the payments are fixed and certain in amount and payable on a regular periodic basis.

(Added to NRS by 1975, 135; A 1989, 35)