Form 8401 - Wyoming Annual Gross Products Report For Bentonite Page 3

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(REV 02/08/10) INSTRUCTIONS TO COMPLETE SCHEDULE A (FORMS 8451 AND 8452) BENTONITE

The Department recommends that Schedule A (Forms 8451 and 8452) be completed before attempting to complete Form 8401. The computation of the

taxable value on Form 8401 is based on the cost and sales information requested on Schedule A (Forms 8451 and 8452).

Please complete Schedule A (Forms 8451 and 8452) using calendar year production, cost, and sales information. Please respond completely to all

information inquiries on this form, providing the information in the spaces provided on the original forms provided by the Department. Schedule A

(Forms 8451 and 8452) must accompany Form 8401 for your annual gross products report filing to be considered complete. Forms not complete may be

returned and may be subject to penalty. Your return will not be considered officially filed until rendered complete. Please supply detailed cost informa-

tion in the appropriate blanks for each of the various cost categories listed for the mining and transportation functions. The categories listed on this form

may not be a complete list of all cost categories. You may attach additional pages to further clarify information submitted on this form, however these

additional pages must accompany a fully completed return filed on the original forms. All cost and sales information provided should be determined on

the accrual basis of accounting, in accordance with generally accepted accounting principles. Round all figures to the nearest whole number except

where otherwise instructed.

W.S. 39-14-403(b)(iv)(A)(IV) requires that the taxable value per unit for each producer shall be revised at four year intervals using the proportionate

profits method, based on the most current completed year's data. Therefore, please provide mining, transportation, tonnage, and sales information on

Schedule A (Forms 8451 and 8452).

Lines 1 through 7: Enter all of the expenses incurred from each category during the reporting period which are directly attributable to the mining or

transportation of bentonite. Please make sure that no direct mining or transportation costs are reported more than once on lines 1 through 7.

Line 8: Enter the ad valorem property tax expense incurred during the reporting period for real and personal property used directly in the mining or

transportation of bentonite.

Line 9: Enter the depreciation expense for property and equipment used directly in the mining or transportation functions during the reporting period.

Report the depreciation expense used by the taxpayer for financial statement purposes.

Line 10: Enter the reclamation expense incurred for the reporting period which is directly attributable to the mining or transportation functions. Report

only those reclamation costs not already reported on lines 1 through 9.

Line 11: Enter the depletion expense for the reporting period used by the taxpayer for financial statement purposes.

Line 12: Enter any other costs incurred during the reporting period which are directly attributable to mining or transportation which are not included in

lines 1 through 11. Additional pages may be used to clarify those costs listed on line 12. Make sure that no direct costs are reported more than once on

lines 1 through 12.

NOTE: The purpose of Line 13 is to identify those direct transportation costs included in the TRANSPORATATION column on lines 1 through 12

which exclusively relate to in-mine transportation or out-of-mine transportation, and re-classify those costs as Direct Mining Costs or Direct Processing

Costs. Direct transportation costs which exclusively relate to in-mine transportation or out-of-mine transportation are not subject to allocation based on

haulage distance, and therefore should be excluded from the Total Direct Transportation Costs reported on line 14. Those direct transportation costs

which exclusively relate to in-mine transportation (and can be specifically identified) should included in Total Direct Mining Costs reported on 14.

Those direct