§ 39-14-101 — Definitions

(a) As used in this article:
(i) "Arm's-length market or sales price" means the
transaction price determined in connection with a bona fide
arm's length sale;
(ii) "Bona fide arm's-length sale" means a
transaction in cash or terms equivalent to cash for specified
property rights after reasonable exposure in a competitive
market between a willing, well informed and prudent buyer and
seller with adverse economic interests and assuming neither
party is acting under undue compulsion or duress;
(iii) "Department review" means, but is not limited
to, corrections of clerical errors or reconciliations of tax
reports with reports required by other state or federal
agencies;
(iv) "Mine product valuation amendment" means a
valuation adjustment determination made by the department
including special directives;
(v) "Mining or production" means drilling, blasting,
loading, roadwork, overburden removal, pre-mouth of the mine
reclamation, transportation from the point of severance to the
mouth of the mine, and maintenance of facilities and equipment
directly relating to any of the functions stated in this
paragraph;
(vi) "Mouth of the mine" means the point at which a
mineral is brought to the surface of the ground and is taken out
of the pit, shaft or portal. For a surface mine, this point
shall be the top of the ramp where the road or conveying system
leaves the pit. For an in situ mine, the point shall be the
wellhead;
(vii) "Processing" means crushing, sizing, milling,
washing, drying, refining, upgrading, beneficiation, sampling,
testing, treating, heating, separating, tailings or reject
material disposal, compressing, storing, loading for shipment,
transportation from the mouth of the mine to the loadout,
transportation to market to the extent included in the price and
provided by the producer, processing plant site and post-mouth
of mine reclamation, maintenance of facilities and equipment
relating to any of the functions stated in this paragraph, and
any other function after severance that changes the physical or
chemical characteristics or enhances the marketability of the
mineral;
(viii) "Purchaser" means the first purchaser who
acquires the produced valuable coal deposit from the taxpayer
for value;
(ix) "Severance tax" means an excise tax imposed on
the present and continuing privilege of removing, extracting,
severing or producing any mineral in this state;
(x) Beginning January 1, 1989, "taxable value" means
one hundred percent (100%) of the fair market value of the gross
product of minerals and mine products;
(xi) "Transportation to market provided by a third
party" means the costs incurred for any movement of a mineral
which is performed by a third party, after completion of all
mining and processing functions, beyond the point of loading for
shipment to the customer, commonly referred to as the loadout,
established by contract or by government regulations;
(xii) "Transportation to market provided by the
producer" means the costs incurred for any movement of a mineral
which is performed by the producer beyond the point of loading
for shipment to the customer, commonly referred to as the
loadout, completed by the employees of the producer using
equipment owned by the producer;
(xiii) "Underground coal" means coal mined by methods
of man-made excavation underneath the surface of the earth
utilizing shafts, tunnels or lifts, including planes connected
with excavations penetrating the mineral stratum;
(xiv) "Unreported production" means production volume
for which no tax report was filed for the reporting period by
the taxpayer or his agent;
(xv) "Value of the gross product" means fair market
value as prescribed by W.S. 39-11-101, less any deductions and
exemption allowed by Wyoming law or rules.