Nebraska § 77-107 Credits, defined

Nebraska Statutes

§ 77-107 — Credits, defined

Nebraska § 77-107

Ch. 77Revenue and Taxation

This text of Nebraska § 77-107 (Credits, defined) is published on Counsel Stack Legal Research, covering Nebraska primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Neb. Rev. Stat. § 77-107 (2026).

Text

The word credits includes corporation shares of stock, accounts, contracts for cash or labor, bills of exchange, judgments, choses in action, liens of any kind, other than real estate mortgages, securities, debentures, bonds, other than those of the United States, annuities, and all other demands for labor or other valuable thing, whether due or to become due.

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Legislative History

Source: Laws 1903, c. 73, § 5, p. 389; R.S.1913, § 6293; Laws 1921, c. 133, art. I, § 6, p. 546; C.S.1922, § 6813; C.S.1929, § 77-106; R.S.1943, § 77-107. Annotations: Credits include open accounts owing by school district. Stephenson School Supply Co. v. County of Lancaster, 172 Neb. 453, 110 N.W.2d 41 (1961). Debts due are credits and are taxable. International Harvester Co. v. County of Douglas, 146 Neb. 555, 20 N.W.2d 620 (1945). Warrants of city are exempt from taxation. Droll v. Furnas County, 108 Neb. 85, 187 N.W. 876 (1922). Cause of action in tort is not a right in property within meaning of revenue laws. Seward County v. Jones, 105 Neb. 705, 181 N.W. 652 (1921). Credits were construed to mean net credits. Nye-Schneider-Fowler Co. v. Boone County, 102 Neb. 742, 169 N.W. 436 (1918).