2013 Nevada Revised Statutes
Chapter 362 - Taxes on Patented Mines and Proceeds of Minerals
NRS 362.105 - Royalty defined. [Effective through November 24, 2014, and after that date unless the provisions of Senate Joint Resolution No. 15 (2011) are approved and ratified by the voters at the 2014 General Election.]
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; R 2013, 3143, effective November 25, 2014, if the provisions of Senate Joint Resolution No. 15 (2011) are approved and ratified by the voters at the 2014 General Election)
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