Resource Indemnity Trust & Ground Water Assessment Tax
Overview
All mineral extractors and producers must file a Resource Indemnity Trust Tax (Form RIT) return in TransAction Portal (TAP).
The Resource Indemnity Trust & Ground Water Assessment Tax is in addition to all other applicable license or severance taxes.
Tax Rates
| Production Type | Rate |
|---|---|
| Talc | 4% |
| Coal | 0.4% |
| Vermiculite | 2% |
| Quicklime | 10% |
| Industrial Garnet | 1% |
| All Others | 0.5% |
- Minimum annual tax is $25
Exemptions
Metal production subject to the Metal Mines License tax is exempt from RIT (15-38-113, MCA).
Royalties exempt from taxation:
- An enrolled Indian Tribe
- The US government as a trustee for individual Indians
- The US government
- The State of Montana
- Counties or municipalities in Montana
Note: Oil and Natural Gas production taxes include RIT. Filing a separate RIT is not required.
Reporting and Payment Options
- File and pay through our TransAction Portal (TAP)
Due Dates
- Metal Producers: March 31
- Other Producers: 60 days after the end of the calendar year
Penalties and Interest
The Resource Indemnity Trust & Ground Water Assessment Tax is subject to uniform penalties and interest.
Revenue Distribution
The Resource Indemnity Trust Fund secures Montanans against:
- The loss of long-term value from depleted natural resources
- Environmental damage caused by mineral development
The state Board of Investments manages the fund.