§ 77-2704.50 — Railroad rolling stock; common or contract carrier; exemption

Nebraska § 77-2704.50

• Jurisdiction: Nebraska
• Ch. 77: Revenue and Taxation

Text

Sales and use taxes shall
not be imposed on the gross receipts from the sale, lease, or rental of and
the storage, use, or other consumption in this state from the purchase in
this state or the purchase outside this state, with title passing in this
state, of materials and replacement parts and any associated labor used as
or used directly in the repair and maintenance or manufacture of railroad
rolling stock, whether owned by a railroad or by any person, whether a common
or contract carrier or otherwise, motor vehicles, watercraft, or aircraft
engaged as common or contract carriers or the purchase in such manner of motor
vehicles, watercraft, or aircraft to be used as common or contract carriers.
All purchasers seeking to take advantage of the exemption shall apply to the
Tax Commissioner for a common or contract carrier exemption. All common or
contract carrier exemption certificates shall expire on October 31, 2013, and on October 31 every five years
thereafter. All persons seeking to continue to take advantage of the common
or contract carrier exemption shall apply for a new certificate at the expiration
of the prior certificate. The Tax Commissioner shall notify such exemption
certificate holders at least sixty days prior to the expiration date of such
certificate that the certificate will expire and be null and void as of such
date.

Legislative History

Source: Laws 2003, LB 282, § 65; Laws 2011, LB210, § 7.