Form M30-G - Gross Income - 2016 Page 2
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1
22016 Form M30-G Instructions
Value
Flux Pellets. The value of flux pellets is
Concentrate sold or shipped without being
determined by the amount of flux in the
processed into pellets uses the same value as
Gross income or “mine value” is based on
finished pellet. Use Worksheet A below to
chips. Chips are valued at 75 percent of the
the value of iron ore or taconite products.
figure the value to enter in Column C, for
pellet value (acid or flux).
It is the starting point for determining the
flux pellets.
occupation tax. The Department of Revenue
Direct Reduced Iron (DRI). The value of
sets product values annually. The informa-
Pellets containing 2 percent flux or more are
DRI is determined by applying any change
tion below shows how the values are deter-
valued at $ .015 per Fe unit per each 1 per-
in the Steel Mill Products Index (SMPI) to
mined for the 2016 tax year.
cent of flux in the finished pellet. Percentag-
the 2015 value of $4.250 per Fe unit.
es are rounded down to nearest percentage.
Acid Pellets. The value of acid pellets is
2016 DRI value (per Fe unit) = $4.101
The value of a pellet with 4.24 percent flux
determined by applying non-equity sales
Calculation:
would be determined as follows:
and any change in the Steel Mill Products
June 2015 SMPI (final) = 176.9
Index (SMPI) to the 2015 value of $1.137
June 2016 SMPI (final) = 170.7
4.0 × .015 = .06 over acid value
per Fe unit.
SMPI change: 170.7 ÷ 176.9 = 96.495%
Acid-pellet value per Fe unit:
1.043
The 2016 acid-pellet value (per Fe unit) is
Flux added value per Fe unit:
.060
2015 DRI Value = $4.250
SMPI change = 96.495%
$1.043 and is figured in the following way:
Flux-pellet value per Fe unit:
1.103
2016 SMPI factor per Fe unit:
2016 non-equity sales = .882
$4.250 × 96.495% = $4.101
Partial Flux. Pellets with 1.99 percent or
less flux are valued at $ .015 per Fe unit
2016 SMPI factor per Fe unit = 1.097
higher than acid pellets:
Calculation:
June 2015 SMPI (final) = 176.9
1.043 + .015 = 1.058 per Fe unit
June 2016 SMPI (final) = 170.7
SMPI change: 170.7 ÷ 176.9 = 96.495%
Chips and Concentrate. A pellet chip and
concentrate value is included for companies
2015 value per Fe unit = 1.137
SMPI change = 96.495%
selling pellet chips or concentrate. In order
2016 SMPI factor per Fe unit:
to qualify for this lower value, pellet chips
1.137 × 96.495% = 1.097
must be individual shipments (or stock-
2016 acid-pellet value per Fe unit = 1.043
piles) produced in the taconite plant, of
which a minimum of 85 percent are smaller
Calculation:
than one-fourth (1/4) inch.
1.097 × 75% = 0.823 per Fe unit
0.882 × 25% = 0.220 per Fe unit
Total
= 1.043 per Fe unit
2016 acid pellet value (per Fe unit) = $1.043
Worksheet A. Figuring the Value for Flux Pellets
1 Percent of flux in finished pellet (from Taconite Production
Tax Report, page 1, rounded down to nearest percentage;
%
e.g., 3.82% rounds down to 3.0%) . . . . . . . . . . . . . . . . . . . . . . . 1
2 Multiply line 1 by .015 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2
1.043
3 Acid-pellet value per Fe unit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3
4 Flux-pellet value per Fe unit (add lines 2 and 3) . . . . . . . . . . . . 4
Enter in Column C for flux pellets.
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