Interior Dept. Halts Changes On Coal Valuation
In a less-prominent proposal, Nevada tax officials want to give people who own land where ores, oil and gas are extracted a break from state paperwork.
Assembly Bill 82, being heard on Tuesday, would have the state work more directly with mine and drill operators to track what's unearthed and what taxes are due on private lands. Royalty recipients would be cut out of an annual process of reporting yields and calculating taxes due on their cuts.
The proposed method was in effect in Nevada from 2008-2015, but lawmakers and state tax officials accidentally let it expire, according to information provided by tax department spokeswoman Stephanie Klapstein.
The procedure is used in other Western states that rely heavily on natural resource development, including Montana, North Dakota and Wyoming. Nevada officials say it streamlines paperwork, produces cleaner data and results in fewer garnishments, but some property owners want to be included in the process.