§ 39-14-303 — Imposition

Wyoming § 39-14-303

• Jurisdiction: Wyoming
• Title 39: Taxation and Revenue
• Ch. 14: MINE PRODUCT TAXES
• Art. 3: TRONA

Text

(a) Taxable event. The following shall apply:
(i) There is levied a severance tax on the value of
the gross product for the privilege of severing or extracting
trona, in the state. The severance tax imposed by this article
may be in addition to other taxes, including but not limited to
the ad valorem taxes imposed by W.S. 39-13-104.
(b) Basis of tax (valuation). The following shall apply:
(i) Trona shall be valued for taxation as provided in
this section;
(ii) The department shall calculate the value of
trona ore for severance and ad valorem tax purposes by using the
individual producer's fair market value of soda ash f.o.b. plant
multiplied by the industry factor divided by the individual
producer's trona to soda ash ratio less exempt royalties. The
industry factor shall be thirty-two and five-tenths percent
(32.5%);
(iii) The value of the gross product shall be the
fair market value of the product at the mouth of the mine where
produced, after the mining or production process is completed;
(iv) Except as otherwise provided, the mining or
production process is deemed completed when the mineral product
reaches the mouth of the mine. In no event shall the value of
the mineral product include any processing functions or
operations regardless of where the processing is performed;
(v) Except as otherwise provided, if the product as
defined in paragraph (iv) of this subsection is sold at the
mouth of the mine, the fair market value shall be deemed to be
the price established by bona fide arms-length sale;
(vi) When the taxpayer and department jointly agree
that the application of the methods listed in paragraphs (i)
through (v) of this subsection does not produce a representative
fair market value for the product, a mutually acceptable
alternative method may be applied. Not later than October 1 of
each year, the department shall report to the joint minerals,
business and economic development interim committee and the
joint revenue interim committee on any action taken under this
paragraph.
(c) Taxpayer. The following shall apply:
(i) In the case of the gross product of all mines and
mining claims produced under lease, the lessor is liable for the
payment of ad valorem taxes on the product removed only to the
extent of the lessor's retained interest under the lease,
whether royalty or otherwise, and the lessee or his assignee is
liable for all other property taxes due on production under the
lease;
(ii) Any taxpayer paying the taxes imposed by this
article on any valuable deposit may deduct the severance taxes
paid from any amounts due or to become due to the interest
owners of such valuable deposit in proportion to the interest
ownership;
(iii) Any person extracting valuable products subject
to this article and any person owning an interest in the
valuable products to the extent of their interest ownership are
liable for the payment of the severance taxes imposed by this
article together with any penalties and interest.