Carson City daily appeal. [volume] (Carson City, Nev.) 1907-1930, 1914-05-07

by the Nevada Tax COmmls-
sion is using every effort to bring to
light all property subject to taxa
ton. regardless of whom it may hit.
The resolution reads:
Resolved, That the following shall
be the rule for the determination OF
the net proceeds OF mines i'll the
state of Nevada and for the assess
ment for taxation OF the same during
the year 1914:
The net proceeds Of any mine shall
be determined as follows:
From the actual value OF the gross
yield i'll any quarter year period shall
be deducted the following items Of
expense incurred in the same quarter:
/. Management-\ll ordinary and
necessary administrative expense, X
Cepting: (a) Payments on principal
or interest on bonds or other indebt,
edne>s. Cb) The expense Of main
tanning offices outside OF the state
OF Nevada.
Mining-.Nl ordinary and ne
essory expenditure, actually made
for mining. exclusive OF general or
administrative eNpense) including the
cost of contemporHneous develop
ment and exploration on the mine it.
sell.
3. Transportation-(a) Where the
transportation facilitie, used in on
v%erting the mine products from the
mine to the place OF reduction ~
sale are owned or controlled directly
or indirectly by the Company. The
actual cost of operating such plalt
facilities, exclusive OF general or adj
ministrativt cNcpnsc. tb) Where the
mine products are transported to the
place of reduction or sale by COM
mon carrier. or by facilities not own
ed by the mining company, or from
which it derives no revenue. The &C
tual moun paid for the tran>porta-
ton of the said mine products.
4. Reduction or Sale-Ca) Where
the mine products are treated in re
ductiOn works owned or controlled
directly or indirectly by the mining
company. The actual expense of re
ductiOn or treatment or sale of the
said products. o. Where the mine
products are treated in plants not
owned or controlled by the company,
or from the operation of which it de
rives no revenue. The actual amount
paid for the treatment or reduction
of the said products.
5. Plant Investment Redemption
A charge which shall be equivalent
to the quarter annual inStallment #
the amount calculated to be written
off annually to redeem 80 per cent Of
the original and all subsequent &C
tual investments in mining. transport
tatiOn and reduction plants and i'm
provements, mot including maintc-
nance and repair charges which shall
be carried in the operating account
and deducted together with other
operating expcnses). within the en-
tire estimated life of the mine in
Guiding the time during which such
improvements have been in use plus
the estimated residual life Of the
mine. Such redemption charge to
cease when 80 per cen Of the said in
vestment shall appear to have been
written off in the II provided IN
the foregoing; provided, that each
company or mine owner desiring t. !
employ such additional deduction for
plant investment redemption shall re-
port to the Nevada Tax commission
(Whcn such report has not been
First. The noun invested
in mining, transportation, and reduH-
ton plants and improvements. Sec
ond. The average dates on which
such improvements wer made. Third.
The date when the mine is estimated
to be exhausted.
Each mine shall be Allowed for
1914 a quarterly redemption charge
to redeem so per cent OF
the investment remaining ~unredeem-
ed in accordance with the foregoing
on January |. 1914, in its estimated
residual life. All investments in plano
made during 1914 shall be reported
quarterly to the assessor, but must
not be included in the deductions from
the value Of the gross yield, though
80 per cent Of the sum of such invest
ments shall be added to the unre-
deemed balance to be redeemed by an
increased quarterly charge in the l1te
OF the mine after this year. Except,