(1) The department shall calculate and compute from the returns
the gross product yielded from the mine and its gross value for the year
covered by the return. The department shall also calculate and compute the net
proceeds yielded to the mine operator. The net proceeds shall be ascertained
and determined by subtracting from the gross value the deductions that are
allowed to the operator of the mine. Allowable deductions are set forth in ARM
42.25.1111 through 42.25.1117.
operator shall be notified of the assessment for each mine. The taxpayer shall
be notified of any changes made by the department when auditing the net proceeds
History: Sec. 15-23-108, MCA; IMP, Sec. 15-23-102 and 15-23-503, MCA; NEW, Eff. 4/5/74; AMD and TRANS, from ARM 42.22.1103, 1986 MAR p. 2072, Eff. 12/27/86; AMD, 2000 MAR p. 2988, Eff. 10/27/00.