Minnesota Statutes Various State Taxes and Programs (Ch. 289A-295) § 290.923. Tax withheld on royalties upon ore

Subdivision 1. Definition.In this section, “royalty” means the amount in money or value of property received by any person having any right, title, or interest in any tract of land in this state for permission to explore, mine, take out, and remove ore from the land.

Subd. 3. Returns; deposits.Every person who is required to deduct and withhold tax under subdivision 2 shall file returns and make deposits as required undersections 289A.09and289A.20, subdivision 2.

Subd. 4. Withholding statement.Every person required to deduct and withhold tax under this section shall furnish withholding statements as required bysection 289A.09, subdivision 2.

Subd. 5. Payor liable for tax withheld.The payor shall be liable for the payment of tax required to be deducted and withheld under subdivision 2 and shall not be liable to any person for the amount of the payment.

Subd. 6. Determination of tax due.The commissioner may grant permission to payors who do not wish to use the withholding tax tables provided in accordance with subdivision 2, paragraph (b), in accordance withsection 290.92, subdivision 9.

Subd. 7. Repealed byLaws 1990, c. 480, art. 1, § 45, eff. Aug. 1, 1990.

Subd. 8. Records. Every person liable for tax imposed by this section or for the collection of it shall be subject to the provisions ofsections 270C.31and270C.32.

Subd. 9. Payees incurring no income tax liability. Notwithstanding any other provision of this section a payor shall not be required to deduct and withhold any tax under this chapter upon a payment of royalties to a payee if there is in effect with respect to the payment a withholding allowance certificate, in the form and containing the information prescribed by the commissioner, furnished to the payor by the payee certifying that the payee:

Subd. 10. Application for account number.A payor desiring to engage in business in Minnesota shall file with the commissioner an application for a withholding account number in accordance withsection 290.92, subdivisions 24and25.

Subd. 11. Exemption from deduction and withholding. A person or entity whose shares or certificates of beneficial interest are traded on the New York Stock Exchange or publicly traded on any recognized stock exchange and which issues 1099 or K1 forms to its shareholders or certificate holders and provides the 1099 or K1 information to the Department of Revenue, is exempt from deduction and withholding under this section.