Nebraska Statutes
§ 77-122 — Purchase, defined
Nebraska·Ch. 77 Revenue and Taxation
Purchase shall include taking by sale, discount, negotiation, or any other transaction for value creating an interest in property except liens. Purchase shall not include transfers for stock or other ownership interests upon creation, dissolution, or any other tax-free reorganization for income tax purposes of any corporation, partnership, limited liability company, trust, or other entity.
Free access — add to your briefcase to read the full text and ask questions with AI
Nebraska § 77-122 (Purchase, defined) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Related
Stewart v. Nebraska Dept. of Rev.
885 N.W.2d 723 (Nebraska Supreme Court, 2016)
Pfizer Inc. v. Lancaster County Board of Equalization
616 N.W.2d 326 (Nebraska Supreme Court, 2000)
Mid City Bank, Inc. v. Douglas County Board of Equalization
616 N.W.2d 341 (Nebraska Supreme Court, 2000)
Legislative History
Source: Laws 1992, LB 1063, § 51; Laws 1992, Second Spec. Sess., LB 1, § 49; Laws 1993, LB 121, § 493.
Annotations: The step transaction doctrine can be applied to determine if the transaction at issue is a purchase under this section. Mid City Bank, Inc. v. Douglas Cty. Bd. of Equal., 260 Neb. 282, 616 N.W.2d 341 (2000).
Nearby Sections
15
§ 77-1001
Act, how cited§ 77-1003
Definitions, where found§ 77-1004
Tax terms, meaning§ 77-1005
Approved cost, defined§ 77-1006
Approved project, defined§ 77-1007
Cultural development, defined§ 77-1008
Destination dining, defined§ 77-101
Definitions, where found§ 77-1010
Entitlement period, defined§ 77-1011
Full-service restaurant, defined§ 77-1012
Historical redevelopment, defined§ 77-1013
Investment, defined§ 77-1014
Lodging, defined