2015 Nevada Revised Statutes
Chapter 362 - Taxes on Patented Mines and Proceeds of Minerals
NRS 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; 2013, 3143)
Disclaimer: These codes may not be the most recent version. Nevada may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
