Wyoming Administrative Code › Agency 011 - Revenue Dept › Sub-Agency 0005 - Mineral Tax › Chapter 6 - AD VALOREM AND SEVERANCE TAXES ON MINERAL PRODUCTION › Section 6-4 - Definitions-General

Current through July 13, 2024
These definitions set forth in Title 39 of the 2013 Wyoming
				  Statutes, as amended, are incorporated by reference in this chapter. In
				  addition, the following definitions shall apply:
(a) "Department" means the Department of
				Revenue of the State of Wyoming.
(b) "Mineral Tax Division" means the Mineral
				Tax Division of the Wyoming Department of Revenue.
(c) "Fair market value" means the price
				established by a bona fide arm's-length sale. In the absence of a bona fide
				arm's-length sale, fair market value shall mean the amount in cash, or terms
				equivalent to cash, that a willing and well informed buyer would pay for a
				mineral, and a willing and well informed seller would accept.
(d) "Gross product" means the total or entire
				output of a mineral or valuable deposit from a mine or oil and gas property
				whether used, sold or stored, and relates to the quality or volume of a mineral
				or valuable deposit which is removed, severed, extracted or produced from a
				mine or well.
(e) "Appropriate
				units of measure" means the measure of the amount of mineral or valuable
				deposit remove, severed, extracted or produced, whether by volume or weight as
				specified by the Department (e.g., ton, pounds, mcfs, barrels, etc.).
(f) "Minerals" means gold, silver, and all
				other precious metals, soda, saline, coal, uranium, petroleum, trona, oil
				shale, gas or natural gas, all hydrocarbons produced with oil and gas, and all
				other valuable deposits, including those produced in association with other
				minerals.
(g) "Valuable deposit"
				means any product not otherwise specified which can be removed, extracted,
				severed or produced from a mine or mining claim and has value as may be
				determined by sale or use.
(h)
				"Mine or mining claim" includes properties producing oil and natural gas and
				means any property which produces a solid, liquid, or gaseous mineral,
				regardless of right or form of ownership of right of production of the
				mineral.
(i) "Point of valuation"
				means the point where value for severance and ad valorem tax is established.
				This point is generally after all mining functions have been performed and
				before the mineral is further processed (Pursuant to
				W.S.
				39-14-101(a)(vi) for coal,
				W.S. W.S. W.S.
				39-14-203(b)(iii) for crude
				oil or lease condensate, W.S. 29-14-203(b)(vi) for natural gas, W.S. W.S.
				W.S.
				39-14-301(a)(vi) for trona,
				W.S. W.S. W.S. 39-14-40 l(a)(vi) for bentonite, W.S. W.S.
				W.S.
				39-14-501(a)(vi) for
				uranium, W.S.
				W.S.
				39-14-601(a)(vi) for sand
				and gravel, W.S. W.S.
				W.S.
				39-14-701(a)(vi) for other
				valuable deposits).
(j) "Operator"
				means any person responsible for the day-to-day operation of a mine or oil and
				gas property by reason of contract, lease or operating agreement or ownership
				of an unleased producing mine or well operated by the owner thereof.
(k) "Exempt interest" means any interest
				owned by the United State, the State of Wyoming, or an Indian tribe.
(1) "Production taxes" means the severance
				tax authorized by W.S. W.S.
				W.S.
				39-14-103, W.S. W.S.
				W.S.
				39-14-203, W.S. W.S.
				W.S.
				39-14-303, W.S. W.S.
				W.S.
				39-14-403, W.S. W.S.
				W.S.
				39-14-503, W.S. W.S.
				W.S.
				39-14-603, W.S. W.S.
				W.S.
				39-14-703 and the Ad Valorem (Gross Products)
				Tax authorized by W.S. W.S.
				W.S.
				39-13-103, the Oil and Gas Conservation tax
				authorized by W.S. W.S.
				W.S.
				30-5-116, black lung excise tax authorized by
				26 USC Section
				4121 and the abandoned mine lands fee
				authorized by
				30 USC Section
				1232, as determined on the accrual basis of
				accounting in accordance with generally accepted accounting
				principles.