Colorado Severance Tax is a tax imposed upon nonrenewable natural resources that are removed from the earth. In addition to any other tax, there shall be levied, collected, and paid for each calendar quarter a tax upon the severance of all molybdenum ore in this state. Such tax shall be levied against every person engaged in the severance of molybdenum ore.
The rate of the tax for each calendar quarter shall be five cents per ton of molybdenum ore. On and after July 1, 1999, no tax provided for in this section shall be imposed on the first 625,000 tons of molybdenum ore produced each quarter of the taxable year.
Every individual, corporation, business trust, partner in a partnership, association, estate, trust or any other legal entity liable for the payment of Colorado molybdenum severance tax must file a Colorado Molybdenum Ore Severance Tax Return (DR 0022). This return shall be reported on a quarterly basis and is due on or before the 15th day following the end of each quarter. If the severance tax liability for the current tax year can reasonably be expected to exceed its Colorado severance tax credits by $5,000 or more, estimated severance tax payments are due with the quarterly Colorado Molybdenum Ore Severance Tax Return (DR 0022).