Nevada Administrative Code
Chapter 362 - Taxes on Patented Mines and Proceeds of Minerals
PROCEEDS OF MINERALS
General Provisions
Section 362.085 - Annual statement of gross yield and claimed net proceeds: Penalty for failure to file
Current through December 12, 2024
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
NRS 360.090, 362.230
