Preparation and mailing of certificate of amount of net proceeds and tax due; due date of tax; overpayments.
1. When the Department determines from the annual statement filed pursuant to NRS 362.110 the net proceeds of any minerals extracted, it shall prepare its certificate of the amount of the net proceeds and the tax due and shall send a copy to the owner of the mine, operator of the mine or recipient of the royalty, as the case may be.
2. The certificate must be prepared and mailed not later than April 20 immediately following the month of February during which the statement was filed.
3. The tax due as indicated in the certificate prepared pursuant to this section must be paid on or before May 10 of the year in which the certificate is received.
4. If an overpayment was made, the overpayment may be credited toward the payment due on May 10 of the next calendar year. If the certificate prepared pursuant to this section shows a net loss for the year covered by the certificate or an amount of tax due for that year which is less than an overpayment made for the preceding year, the amount or remaining amount of the overpayment must be refunded to the taxpayer within 30 days after the certification was sent to the taxpayer.
Last modified: February 27, 2006