California Revenue and Taxation Code

§ 47010

RTC § 47010 Effective Jun 30, 2022Div. 2 · Part 25 · Ch. 2

Statute text

(a)Beginning January 1, 2023, a producer shall pay a lithium extraction excise tax upon each metric ton of lithium carbonate equivalent extracted from geothermal fluid, spodumene ore, rock, minerals, clay, or any other naturally occurring substance in this state, at the following amounts:Lifetime cumulative metric tons of lithium carbonate equivalent extracted by a producer:Applicable tax rate:20,000 or less$400 per metric ton extracted.Over 20,000 but not over 30,000.$600 per metric ton extracted over 20,000 up to 30,000 metric tons, inclusive.Over 30,000 metric tons.$800 per metric ton extracted over 30,000.

(b)(1) The tax brackets specified in subdivision (a) shall apply to the total metric tons of lithium carbonate extracted by a producer cumulatively beginning from the date the first metric ton of lithium carbonate was extracted. In each quarterly reporting period, as described in Section 47070, the producer shall add the amount of metric tons of lithium carbonate extracted during that quarter to the cumulative amount of lithium carbonate previously reported by the producer.

(2)Where the permit (ownership) of a mine, lithium extraction facility, or well changes, the cumulative amount of lithium carbonate extracted previously reported by the producer shall be assumed to be 30,000 metric tons.

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Legislative history

Added by Stats. 2022, Ch. 63, Sec. 6. (SB 125) Effective June 30, 2022.