Terms Used In Michigan Laws > Chapter 211 > Act 410 of 2012 - Nonferrous Metallic Minerals Extraction Severance Tax Act

• Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
• Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
• Beneficiation: means milling, processing, grinding, separating, concentrating, pelletizing, and other processes necessary to prepare nonferrous metallic mineral ore for sale or transfer. See Michigan Laws 211.782
• Contract: A legal written agreement that becomes binding when signed.
• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• Department: means the department of treasury. See Michigan Laws 211.782
• Fiduciary: A trustee, executor, or administrator.
• Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
• in writing: shall be construed to include printing, engraving, and lithographing; except that if the written signature of a person is required by law, the signature shall be the proper handwriting of the person or, if the person is unable to write, the person's proper mark, which may be, unless otherwise expressly prohibited by law, a clear and classifiable fingerprint of the person made with ink or another substance. See Michigan Laws 8.3q
• Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
• Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). ^{Source: OCC}
• Mineral: means a naturally occurring solid substance that is extracted from the earth in this state primarily for its nonferrous metallic mineral content for commercial, industrial, or construction purposes. See Michigan Laws 211.782
• Mineral-producing property: means real and personal property in this state that is part of a producing mine or utilized directly in association with a producing mine on a parcel on which the shaft, incline, or adit is located, or a parcel contiguous or appurtenant to a parcel on which the shaft, incline, or adit is located. See Michigan Laws 211.782
• Open mine: means a mine at which a shaft, incline, or adit has been started or overburden has been stripped. See Michigan Laws 211.782
• Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
• Person: means an individual, firm, limited partnership, limited liability partnership, copartnership, partnership, joint venture, corporation, association, subchapter S corporation, limited liability company, receiver, estate, trust, or any other legal entity or combination of legal entities acting as a unit. See Michigan Laws 211.782
• person: may extend and be applied to bodies politic and corporate, as well as to individuals. See Michigan Laws 8.3l
• Personal property: All property that is not real property.
• Producing mine: means a mineral mine in this state at which a taxpayer is producing 1 or more minerals. See Michigan Laws 211.782
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• Rural development fund: means the rural development fund created in section 5 of the rural development fund act. See Michigan Laws 211.782
• severance tax: means the specific tax levied under section 4. See Michigan Laws 211.782
• state: when applied to the different parts of the United States, shall be construed to extend to and include the District of Columbia and the several territories belonging to the United States; and the words "United States" shall be construed to include the district and territories. See Michigan Laws 8.3o
• Taxable mineral: means the first marketable mineral or mineral product sold or transferred by the taxpayer that is taxable under this act. See Michigan Laws 211.782
• Taxable mineral value: means the total value received by a taxpayer for the sale or transfer of taxable minerals, whether or not in a beneficiated state, including premiums, bonuses, subsidies, or noncash consideration, with no deductions. See Michigan Laws 211.782
• Taxpayer: means a person subject to a specific tax levied under this act. See Michigan Laws 211.782
• Transfer: means an in-kind exchange or other disposition of an interest in minerals, whether or not beneficiated, other than through a sale. See Michigan Laws 211.782