Colorado § 39-29-103 Tax on severance of metallic minerals

Colorado Statutes

§ 39-29-103 — Tax on severance of metallic minerals

Colorado § 39-29-103

Title 39Taxation

Art.Severance Tax

This text of Colorado § 39-29-103 (Tax on severance of metallic minerals) is published on Counsel Stack Legal Research, covering Colorado primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Colo. Rev. Stat. § 39-29-103 (2026).

Text

(1)In addition to any other tax, there shall be levied, collected, and paid for each taxable year a tax upon the severance from the earth in this state of all metallic minerals as to all such severance occurring on and after January 1, 1978. Such tax shall be levied against every mining operation engaged in the severance of metallic minerals and shall be based upon the gross income of such mining operation. The rate of the tax for all metallic minerals shall be as follows:

(a)For taxable years commencing prior to July 1, 1999: Percentage tax Amount of gross income on gross income First $11,000,000 No tax Amount exceeding $11,000,000 2.25%

(b)For taxable years commencing on or after July 1, 1999: Percentage tax Amount of gross income on gross income First $19,000,000 No ta

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(1) In addition to any
other tax, there shall be levied, collected, and paid for each taxable year a tax upon
the severance from the earth in this state of all metallic minerals as to all such
severance occurring on and after January 1, 1978. Such tax shall be levied against
every mining operation engaged in the severance of metallic minerals and shall be
based upon the gross income of such mining operation. The rate of the tax for all
metallic minerals shall be as follows:

(a) For taxable years commencing prior to July 1, 1999:

Percentage tax

Amount of gross income on gross income

First $11,000,000 No tax

Amount exceeding $11,000,000 2.25%

(b) For taxable years commencing on or after July 1, 1999:

Percentage tax

Amount of gross income on gross income

First $19,000,000 No tax

Amount exceeding $19,000,000 2.25%

(2) There shall be allowed, as a credit against the tax computed in
accordance with subsection (1) of this section, an amount equal to all ad valorem
taxes assessed during the taxable year in the case of accrual basis taxpayers or
paid during the taxable year in the case of cash basis taxpayers on producing mines
valued for assessment pursuant to section 39-6-106. Such credit shall not exceed
fifty percent of the tax computed in accordance with subsection (1) of this section.

Legislative History

Source: L. 77: Entire article added, p. 1845, � 1, effective January 1, 1978. L. 99: (1) amended, p. 925, � 2, effective May 24. L. 2008: IP(1) amended, p. 1679, � 2, effective August 5.