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California Code, Revenue and Taxation Code - RTC § 47010

Current as of January 01, 2025 | Updated by Findlaw Staff

(a) Beginning January 1, 2023, a producer shall pay a lithium extraction excise tax upon each metric ton of lithium carbonate equivalent extracted from geothermal fluid, spodumene ore, rock, minerals, clay, or any other naturally occurring substance in this state, at the following amounts:

Lifetime cumulative metric tons of Applicable tax rate:
lithium carbonate equivalent extracted
by a producer:

20,000 or less

$400 per metric ton extracted.

Over 20,000 but not over 30,000.

$600 per metric ton extracted over
20,000 up to 30,000 metric tons,
inclusive.

Over 30,000 metric tons.

$800 per metric ton extracted over
30,000.

(b)(1) The tax brackets specified in subdivision (a) shall apply to the total metric tons of lithium carbonate extracted by a producer cumulatively beginning from the date the first metric ton of lithium carbonate was extracted. In each quarterly reporting period, as described in Section 47070, the producer shall add the amount of metric tons of lithium carbonate extracted during that quarter to the cumulative amount of lithium carbonate previously reported by the producer.

(2) Where the permit (ownership) of a mine, lithium extraction facility, or well changes, the cumulative amount of lithium carbonate extracted previously reported by the producer shall be assumed to be 30,000 metric tons.

(c) Beginning January 1, 2025, the lithium extraction tax rate imposed under subdivision (a) shall be adjusted annually by the department consistent with increases and decreases in the cost of living, as measured by the California Consumer Price Index issued by the Department of Industrial Relations or a successor agency, rounded to the nearest whole dollar. The first adjustment pursuant to this subdivision shall be an amount equal to the increase or decrease in the California Consumer Price Index for all urban consumers (CPI-U) from June 2023 to June 2024. Subsequent annual adjustments shall cover subsequent 12-month periods. The adjusted rate shall apply beginning the following January 1.

(d) A producer shall remit the tax to the department in a manner and form as prescribed by this part.

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Cite this article: FindLaw.com - California Code, Revenue and Taxation Code - RTC § 47010 - last updated January 01, 2025 | https://codes.findlaw.com/ca/revenue-and-taxation-code/rtc-sect-47010/

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