Free Utah Mining Severance Tax Annual Return, TC-685 - Utah

Clear form
Utah State Tax Commission

Mining Severance Tax Annual Return

TC-685 Rev. 10/05

Utah State Tax Commission, 210 N 1950 W, Salt Lake City, Utah 84134-2400 Telephone (801) 297-4600 www.tax.utah.gov

Taxpayer Name and Address

Report Period

Due date Mining account number

Mine name and location

Metalliferous mineral mined

BERYLLIUM 1. 125% of direct mining costs for beryllium metal or concentrates sold or stockpiled 2. Less annual exemption of $50,000 3. Taxable value (line 1 less line 2) OTHER METALS OR CONCENTRATES 4. Metal or concentrates sold or stockpiled, except beryllium 5. Less annual exemption of $50,000 6. Adjusted gross proceeds (line 4 less line 5) 7. Taxable value (multiply line 6 by .30) ORE 8. Ore of all metals sold or stockpiled, except beryllium 9. Less annual exemption of $50,000 10. Adjusted gross proceeds (line 8 less line 9) 11. Taxable value (multiply line 10 by .80) TOTAL 12. Total taxable value (add lines 3, 7, and 11) 13. Mining severance tax (multiply line 12 by .026) 14. Quarterly installments 1st) _______________ 2nd) _______________ 3rd) _______________ 4th) _______________ 15. Tax Due $ $ $ $
Quantity Quantity Quantity

Value $ $ $

$ $ $ $ $ $ $ $

Penalties and interest will be computed as provided by law and billed by the Utah State Tax Commission for late filing and/or late payment. I have reviewed this report and certify the information to be accurate and complete.
Authorized signature Date signed Telephone number

Instructions for Mining Severance Tax Annual Return
Name and Address Enter the name and address of the company submitting this report. Utah Account Number Enter the Utah account number of the company submitting this report. This number is assigned by the Minerals Section, Auditing Division, Utah State Tax Commission. Report Period and Due Date Report period covers one calendar year. Report is due on or before June 1, following the report period. Mine Name and Location Prepare a separate return for each mine. For the purpose of the mining severance tax, a contiguous claim or mine working is considered to be one mine. Also, enter the legal description of the mine. Metalliferous Minerals Mined Enter the type of metals or metalliferous minerals mined. Line 1 Enter the quantity and taxable value of beryllium sold, stockpiled for more than two years, or otherwise disposed of by the producer. The taxable value of beryllium is equal to 125 percent of the direct mining costs incurred in mining beryllium. Lines 4 and 8 Enter quantity sold and value received for sale of metal without deductions of any kind on lines 4 and 8. For value, enter the gross amount received from purchasers, including bonuses, premiums and subsidies, in connection with the sales of ores, concentrates and metals. If the metalliferous minerals are stockpiled for more than two years, shipped out of state without sale, or otherwise disposed of, gross value shall be calculated by multiplying the recoverable units of metals contained times the average monthly price as quoted in an established authority for market prices of metals for the period during which the tax is due. Lines 2, 5 and 9 Enter the amount of the annual exemption. An annual exemption from the payment of the tax is allowed upon the first $50,000 in gross value of the metal or metalliferous mineral for each mine. Line 14 Enter the amounts previously paid to the Utah State Tax Commission for each of the four quarters. Enter the sum of these lines on line 14. Line 15 Tax due equals tax minus quarterly prepayments. Payment must accompany annual return. For additional information, visit the Utah State Tax Commission's website at tax.utah.gov, or contact the Tax Commission, 210 North 1950 West, Salt Lake City, Utah 84134, (801) 297-4600.