(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.
Section: Previous 38.05.190 38.05.195 38.05.200 38.05.205 38.05.207 38.05.210 38.05.211 38.05.212 38.05.215 38.05.220 38.05.225 38.05.230 38.05.235 38.05.245 38.05.250 NextLast modified: November 15, 2016