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2012 Maine Revised Statutes
TITLE 36: TAXATION
Chapter 371: MINING EXCISE TAX
36 §2856. Amount of tax


36 ME Rev Stat § 2856 (2012 through 125th Legis) What's This?

Part 4: BUSINESS TAXES

§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: [1981, c. 711, §10 (NEW).]

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

[ 1981, c. 711, §10 (NEW) .]

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

A. If net proceeds is 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. [1981, c. 711, §10 (NEW).]

B. If net proceeds is equal to or less than zero, then 0.009. [1981, c. 711, §10 (NEW).]

[ 1981, c. 711, §10 (NEW) .]

SECTION HISTORY

1981, c. 711, §10 (NEW).

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