[Download] "State Tax Commission V. Magma Copper Co." by Arizona Supreme Court " Book PDF Kindle ePub Free

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eBook details

• Title: State Tax Commission V. Magma Copper Co.
• Author : Arizona Supreme Court
• Release Date : January 16, 1932
• Genre: Law,Books,Professional & Technical,
• Pages : * pages
• Size : 65 KB

Description

There are eight assignments of error, but the question raised by all eight is in effect the sufficiency of the evidence to sustain the judgment, and we therefore consider them as one. The trial court in fixing the value of the mine in question followed the usual and correct rule of estimating the probable gross revenue to be received from the ore presumably contained in the mine; deducting therefrom the probable cost of extraction, reduction, and selling the product of the ore, including therein all factors of cost, and reducing the difference, which would be the net value of the product, to its present worth, based upon such net value and the length of time it would probably take to produce it. It is conceded, as it must be, that this formula is the proper one to be used in determining the actual cash value for taxation of a producing mine at any particular time. Defendants, however, contend that the trial court erred as a matter of law in its estimate of the cost of production in that it included in such cost some $4,100,000 as a future development cost which was not reasonably necessary for the extraction and reduction of the ore on which the gross value of the mine was based.

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