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Nevada Revised Statutes Title 32. Revenue and Taxation § 362.105. “Royalty” defined

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

As used in NRS 362.100 to 362.240, inclusive, unless the context otherwise requires:

1. “Royalty” means a portion of the proceeds from extraction of a mineral which is paid for the privilege of extracting the mineral.

2. “Royalties” do not include:

(a) Rents or other compensatory payments which are fixed and certain in amount and payable periodically over the duration of the lease regardless of the extent of extractions; or

(b) Minimum royalties covering periods when no mineral is extracted if the payments are fixed and certain in amount and payable on a regular periodic basis.

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Cite this article: FindLaw.com - Nevada Revised Statutes Title 32. Revenue and Taxation § 362.105. “Royalty” defined - last updated January 01, 2025 | https://codes.findlaw.com/nv/title-32-revenue-and-taxation/nv-rev-st-362-105/

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