Nevada Revised Statutes 362.115 – Annual statement of estimated gross yield, net proceeds and royalties; use of statement
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1. In addition to the statement required by subsection 1 of NRS 362.110, each person extracting any mineral in this State shall, on or before March 1 of each year, file with the Department a statement showing the estimated gross yield and estimated net proceeds from each such operation for the entire current calendar year and an estimate of all royalties that will be paid during the current calendar year.
Terms Used In Nevada Revised Statutes 362.115
- Mineral: includes oil, gas and other hydrocarbons, but does not include sand, gravel or water, except hot water or steam in an operation extracting geothermal resources for profit. See Nevada Revised Statutes 362.010
- person: means a natural person, any form of business or social organization and any other nongovernmental legal entity including, but not limited to, a corporation, partnership, association, trust or unincorporated organization. See Nevada Revised Statutes 0.039
2. The Department shall:
(a) Use the statement filed pursuant to subsection 1 only to prepare estimates for use by local governments in the preparation of their budgets; and
(b) Submit those estimates to the local governments on or before March 15 of each year.