The Business of Mining—The Benefits of an S Corporation
November 2007 by Mark E. BattersbyImagine the liability protection of a corporation and the pass-through tax benefits of a partnership in one entity for your mining or prospecting operation.
The first thing I realized was this was not a toy—this thing had power and I needed to really pay attention. I got into position, took a deep breath, and pushed that monster into the hard pack.
• Positive bill passes House
• Anti-mining bill dies in Washington State
My partner had the contacts and it wasn’t long before we had an agreement in place and the company had a geologist on site. I recall a time when he was getting the lay of the land, so to speak, and he broke off a rock sample and inspected it with his magnifier.
Environmental groups last year urged Montana regulators to impose the bad actor designation, and now are seeking to intervene in the case.
Making it even semi-permanent allows any business that spends heavily on equipment, machinery and other business property to reap large, up-front tax breaks.
I have figured out over the years that the winning combination is hard work, persistence, knowledge, and a little luck. This leads me to describe one of my best finds ever, a “honey hole” of placer gold, if you will.
The Bawl Mill • Ask the Experts • Prairie Creek Project Approaches Final Hurdle • A Golden Dream Come True • Dawson City and the World Gold Panning Championships • Journeys in the Kingman Quadrangle—Part IV • Silver Bonanza in the Sierra Madre: The Glorious Past of Batopilas—Part II • Melman on Gold & Silver • Mining Stock Quotes and Mineral & Metal Prices • The Risks of Mining Overseas