Section 38.05.212. Production royalty.

   (a) In exchange for and to preserve the right to extract and possess the minerals produced, the holder of a mining claim, leasehold location, or mining lease, including a mining lease under AS 38.05.250, shall pay a royalty on all minerals produced from land subject to the claim, leasehold location, or mining lease during each calendar year, or each fiscal year if the miner does not file the mining license tax on a calendar year basis.
   (b) The production royalty
        (1) is three percent of net income as determined under AS 43.65; and
        (2) is subject to the exploration incentive credit authorized by AS 27.30.
   (c) The commissioner shall adopt regulations to implement this section and to provide for combined reporting and paying of production royalties for mining operations that include more than one mining claim, leasehold location, or mining lease.

Authorities

38.05.211

Notes

Recent Bills that will modify this

HB4005 MINING: LICENSE,TAX, FEES; EXPLOR. CREDIT
HB5002 OMNIBUS TAXES & CREDITS; MINING LICENSES
SB5002 OMNIBUS TAXES & CREDITS; MINING LICENSES

Implemented As

11 AAC 86.760
11 AAC 86.763
11 AAC 86.766
11 AAC 86.769
11 AAC 86.772
11 AAC 86.775
11 AAC 86.776
11 AAC 86.778
11 AAC 86.781
11 AAC 86.784
11 AAC 86.787
11 AAC 86.790
11 AAC 86.793
11 AAC 86.796

References

11 AAC 86.760
AS 38.05.211 Annual rental.

History

(Sec. 4 ch 101 SLA 1989; am Sec. 3 ch 86 SLA 1995; am Sec. 16 ch 27 SLA 2012)