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Alaska Mining License Tax Return
Extracted from PDF file 2023-alaska-form-662.pdf, last modified October 2022Mining License Tax Return
Form 662 Alaska Mining License Tax Return Attention: All returns and reports must be filed electronically. In order to file on this paper form, you must have a previously approved Waiver of Electronic Filing (Form 773). Otherwise you may be subject to a penalty. See instructions for additional information. Taxpayer Name (Name must be the same as on the mining license application) Mining License Number EIN or SSN Enter tax period year-end Business Name (dba) Business Phone Number Month/Day ________________ Mailing Address Check if new address City State Year ________________ Return Information (Check if it applies): Amended Return (Attach explanation) ZIP Code Email Address Contact Name Title Contact Phone 1. Taxable income from all mining operations (sum of all Schedule As, line 8) . . . . . . . . 1 2. Tax (see instructions) . . . . . . . . . . . . . . . . . . 2 3. Exploration incentive credit (attach Form 665) . . . . . . . . . . . . . . . . . 3 4. Mining license tax education credit (from Schedule EC, line 4) . . . . . . . . . . . . 4 5. Tax before other credits (subtract lines 3 and 4 from line 2, but not less than zero) . . . . . . 5 6. Film production tax credit (cannot exceed line 5. Attach certificate or explanation of carry forward) . 6 7. Amount paid with extension . . . . . . . . . . . . . . . . . 7 8. Amended returns only. Amount previously paid . . . . . . . . . . . . . . . . 8 9. Net tax due or (overpayment) (subtract lines 6, 7 and 8 from line 5) . . . . . . . . . . 9 . . . . . . . . . . . . . I declare under penalty of perjury that this return, including all accompanying schedules and statements, has been examined by me and to the best of my knowledge and belief is a true, correct and complete return. Signature Printed Name and Title Date 0405-662 10-13-22 - Page 1 Form 662 EIN or SSN Alaska Mining License Tax Return Taxpayer Name Mining License Number Description and Location of Mining Operation Schedule A Taxable Income from Mining Operation (Use a separate Schedule A to calculate the income for each mining operation) 1. Gross income from mining operation . . . . . . . . . . . . . . . . . . . 1 2. Royalties received (from Schedule F, line 6) . . . . . . . . . . . . . . . . . 2 3. Depletion deduction (from Schedule B, line 16) . . . . . . . . . . . . . . . . 3 4. . Direct mining expenses (from Schedule C, line 10. If there is income on line 2, enter zero) . . 4 5. Indirect mining expenses (from Schedule C, line 22. If there is income on line 2, enter zero) . . 5 6. Net income from mining operation (subtract lines 3 through 5 from the sum of lines 1 and 2) . . 6 7. Exemption for new mining operation (see instructions) . . . . . . . . . . . . . . 7 8. Taxable income from mining operation (line 6 less line 7) . . . . . . . . . . . . . 8 Schedule B Depletion Deduction (Attributable to mining operation identified above) Cost Depletion Calculation 1. Cost or basis of mining property (less residual value) . 2. Estimated recoverable units at beginning of tax year (include units previously produced, but not sold) 2 3. Unit cost (divide line 1 by line 2) . . . . . . . . . . . . . . . . . . . 3 4. Number of units sold this tax period . . . . . . . . . . . . . . . . . . . 4 5. Cost depletion deduction (multiply line 3 by line 4) . . . . . . . . . . . . . . . 5 6. Gross income and royalties received from mining operations (sum of Schedule A, lines 1 and 2) . 6 7. Royalties paid (Schedule E, line 6) . . . . . . . . . . . . . . . . . . . . 7 8. Depletion base (line 6 minus line 7) . . . . . . . . . . . . . . . . . . . 8 9. Applicable depletion percentage from below * . . . . . . . . . . . . . . . . 9 10. Percentage depletion (multiply line 8 by line 9) . . . . . . . . . . . . . . . . 10 Gross income and royalties received from mining operations (sum of Schedule A, lines 1 and 2) . 11 . . . . . . . . . . . . . 1 . Percentage Depletion Calculation 11. 12. Allowable deductions (sum of Schedule A, lines 4 and 5) . . . . . . . . . . . . . 12 13. Net income before depletion (line 11 minus line 12) . . . . . . . . . . . . . . 13 14. Limitation (multiply line 13 by 50%) . . . . . . . . . . . . . . . 14 15. Enter amount from line 10 or line 14, whichever is less . . . . . . . . . . . . . 15 16. Depletion deduction (enter amount from line 5 or 15, whichever is greater, here and on Schedule A, line 3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16 . . . . . * Depletion percentages to be used on line 9 above: 10% Coal mines 15% Metal mines, flourspar, flake graphite, vermiculite, beryl, feldspar, mica, talc, lepidolite, spodumene, barite, ball and sagger clay, or rock asphalt mines and potash mines or deposits 23% Sulphur mines or deposits 0405-662 10-13-22 - Page 2 Form 662 Alaska Mining License Tax Return EIN or SSN Taxpayer Name Mining License Number Description and Location of Mining Operation Schedule C Mining Expenses (Note: Royalty recipients cannot take any expense except for depletion) (Submit a separate Schedule C for each mining operation. See instructions) Direct Expenses 1. 2. 3. 4. 5. 6. 7. 8. 9. Royalties paid (from Schedule E, line 6) . . . . . . . . . . . . . . . . . . . . . . . . . Current development costs . Extraction costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Maintenance and repairs. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Depreciation. . . . . . . . Other expenses (attach schedule) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Fuel and oil . Salaries and wages . Transportation costs . . . . . . . . . . . . . . . . . . . . . . 10. Total direct mining expenses for this operation (add lines 1 through 9. Enter here and on Schedule A, line 4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11. 1 2 3 4 5 6 7 8 9 10 Direct mining expenses of all other mining operations (add line 10 of all other . Schedule Cs) . 12. Total direct mining expenses of all mining operations (add lines 10 and 11) . . . . . . . . . 11 . . 12 13. Total direct non-mining expenses from all non-mining activities . . . . 13 14. Total direct mining and non-mining expenses (add lines 12 and 13) . . . . . . . . 15. Direct mining expenses as a percentage of total direct expenses (divide line 12 by line 14) . . . . 14 . . . 15 . . . . . . . . Indirect Expenses Allocation (If there are no indirect expenses to be allocated, you may leave lines 16-22 blank) 16. Total indirect expenses (from Schedule D, line 12) . . . . . . . . . 16 17. Indirect expenses allocated to mining operations (multiply line 16 by line 15) . . . . . . . 17 . . . . . . 18 19. Total current year production from all other mining operations (add line 18 of all other Schedule Cs) . 19 18. Total current year production from this mining operation . . . . . . . . . . . . . . . . 20 21. This operation’s percentage of total current year production (divide line 18 by line 20) . . . . 21 20. Total current year production of all mining operations (add lines 18 and 19) . . 22. Total indirect expenses allocated to this property (multiply line 17 by line 21. Enter the result here and 22 on Schedule A, line 5) . . . . . . . . . . . . . . . . . . . . . 0405-662 10-13-22 - Page 3 Form 662 Alaska Mining License Tax Return EIN or SSN Taxpayer Name Schedule D Indirect Expenses (Note: Royalty recipients cannot take any expense except for depletion) (Submit only one Schedule D with Form 662. Include indirect expenses from all mining and non-mining operations. See instructions) 1. Advertising . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 2. Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 3. Interest on business debt . . . . . . . . . . . . . . . . . . . . . . . . . 3 4. Legal and professional fees . . . . . . . . . . . . . . . . . . . . . . . . 4 5. Office supplies, repairs and maintenance . . . . . . . . . . . . . . . . . . . . 5 6. Rent . . . . . . . . . . . . . . . . . . . . 6 7. Taxes (other than federal income tax and Alaska mining tax) . . . . . . . . . . . . . . 7 8. Travel and entertainment . . . . . . . . . . . . . . . . . . . . . . . . . 8 9. Utilities and telephone . . . . . . . . . . . . . . . . . . . . . . . . . . 9 . . . . . . . . . . . . . . . . . . . . . . . . . 10 Other expenses (attach schedule) . . . . . . . . . . . . . . . . . . . . . . 11 . . . 10. Depreciation . 11. . . . . . . . . . . . . 12. Total indirect expenses (add lines 1 through 11. Enter the result here and on each Schedule C, line 16) . 12 0405-662 10-13-22 - Page 4 Form 662 EIN or SSN Alaska Mining License Tax Return Taxpayer Name Mining License Number Description and Location of Mining Operation Schedule E Royalties Paid to Owner/Lessor (See instructions. Report in U.S. dollars) Name and Address of Each Lessor 1. Federal ID FEIN Amount Paid SSN Name $____________________ Mailing Address City 2. Federal ID State FEIN ZIP Code SSN Name $____________________ Mailing Address City 3. Federal ID State FEIN ZIP Code SSN Name $____________________ Mailing Address City 4. Federal ID State FEIN ZIP Code SSN Name $____________________ Mailing Address City 5. Federal ID State FEIN ZIP Code SSN Name $____________________ Mailing Address City 6. State ZIP Code Total royalties paid. Add amounts paid and enter the result here, on Schedule C, line 1, and on Schedule B, line 7 of the appropriate mining operation . . . . . . . . 6 0405-662 10-13-22 - Page 5 Form 662 EIN or SSN Alaska Mining License Tax Return Taxpayer Name Mining License Number Description and Location of Mining Operation Schedule F Royalties Received from Operator/Lessee (See instructions. Report in U.S. dollars) Name and Address of Each Lessee 1. Federal ID FEIN Amount Received SSN Name $____________________ Mailing Address City 2. Federal ID State FEIN ZIP Code SSN Name $____________________ Mailing Address City 3. Federal ID State FEIN ZIP Code SSN Name $____________________ Mailing Address City 4. Federal ID State FEIN ZIP Code SSN Name $____________________ Mailing Address City 5. Federal ID State FEIN ZIP Code SSN Name $____________________ Mailing Address City 6. State ZIP Code Total royalties received. Add amounts received and enter results here and on Schedule A, line 2 of the appropriate mining operation . . . . . . . . . . . . . 6 0405-662 10-13-22 - Page 6 Form 662 Alaska Mining License Tax Return EIN or SSN Taxpayer Name Mining License # Schedule EC Education Credit Section I - Contributions 1. EIN of Payor (A) Name of Contribution Recipient (B) Code (C) Contributions (D) 2. Total qualified contributions 2 3. Enter the lessor of line 2 or $2,000,000 3 4. Tentative credit. Multiply line 3 by 50% (enter value here and on page 1, line 4) 4 Section II - Equipment Contributions Listed in Section I Description of Equipment (A) Date Acquired (mm/dd/yyyy) (B) Contrib. Date (mm/dd/yyyy) (C) Donor’s Cost / Adjusted Basis (D) Appraised Fair Market Value * (E) Contribution Available (F) * A written appraisal and recipient acknowledgement must be remitted with Form 662 for all equipment donations of $5,000 or greater. 0405-662 10-13-22 - Page 7
Form 662
More about the Alaska Form 662 Other Tax Return TY 2023
We last updated the Mining License Tax Return in February 2024, so this is the latest version of Form 662, fully updated for tax year 2023. You can download or print current or past-year PDFs of Form 662 directly from TaxFormFinder. You can print other Alaska tax forms here.
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TaxFormFinder has an additional 30 Alaska income tax forms that you may need, plus all federal income tax forms. These related forms may also be needed with the Alaska Form 662.
| Form Code | Form Name |
|---|---|
| Form 662SF | Mining License Tax Return (Short Form) |
| Form 662SFi | Mining License Tax Return (Short Form) Instructions |
| Form 662i | Mining License Tax Return Instructions |
View all 31 Alaska Income Tax Forms
Form Sources:
Alaska usually releases forms for the current tax year between January and April. We last updated Alaska Form 662 from the Department of Revenue in February 2024.
Form 662 is an Alaska Other form. Like the Federal Form 1040, states each provide a core tax return form on which most high-level income and tax calculations are performed. While some taxpayers with simple returns can complete their entire tax return on this single form, in most cases various other additional schedules and forms must be completed, depending on the taxpayer's individual situation, to create a complete income tax return package.
Historical Past-Year Versions of Alaska Form 662
We have a total of three past-year versions of Form 662 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:
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