IDAPA 35.01.03.982 — REPORTING NET PROFITS OF MINES

Sections 63-2801, 63-2802, 63-2803, Idaho Code
01.
Amount to be Reported. The amount of money received from the sale of minerals or mined metals
during the calendar year immediately preceding the current tax year will be reported by the owner of the mine or
mining claim. If there is no sale, but minerals or mined metals are shipped to a smelter or other facility, an amount of
money equivalent to that which would have been received from sale of the shipped minerals or mined metals will be
reported. Moneys received from rents, commissaries, discounts on purchases, and investments are not to be included.
A separate annual net profit statement will be filed by the owner of mines or mining claims, for each mine or mining
claim located in any county in Idaho. The statement filed with any county assessor will not include amounts received
pursuant to mines or mining claims located outside the county. The owner will complete the statement on forms
prescribed by the Tax Commission.
(7-1-24)
02.
Additional Allowable Deductions. In addition to deductions specified in Section 63-2802, Idaho
Code, the following expenditures can be subtracted from the amount of money or equivalent to be reported: (7-1-24)
a.
Expenses for Social Security, worker's compensation, insurance provided by the employer for the
benefit of employees at the mine, fire and water protection, first aid and safety devices, mine rescue materials,
experimental work reasonably connected with reduction of the ores;
(7-1-24)
b.
Expenses for improvements made during the year immediately preceding the current tax year;
(7-1-24)
c.
Expenses for reclamation or remediation not previously deducted, including payments into a
sinking fund mandated by law for reclaiming or remediating the mining site.
(7-1-24)
03.
Non-deductible Items. In addition to expenditures specified as non-deductible pursuant to Section
63-2802, Idaho Code, the following expenditures cannot be subtracted from the amount of money to be reported:
(7-1-24)
a.
Federal, state, and local taxes and license fees;
(7-1-24)
b.
Depreciation, depletion, royalties, and donations;
(7-1-24)
c.
Insurance except as listed in Subsection 982.02.a.;
(7-1-24)
IDAHO ADMINISTRATIVE CODE
IDAPA 35.01.03
State Tax Commission
Property Tax Administrative Rules
Section 988
Page 84
d.
Construction repair, and operation of dwellings, community buildings, and recreational facilities;
and
(7-1-24)
e.
Miscellaneous administrative and other expenses not related to labor, machinery or supplies needed
for mining, reducing ores, construction of mills and reduction works, transporting ore and extracting metals and
minerals from ore.
(7-1-24)