§ 77-2704.65 — Historic automobile museum; exemption

Nebraska § 77-2704.65

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

Text

(1) 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 of purchases
by any historic automobile museum of items which are displayed or held for
display by such historic automobile museum and which are reasonably related
to the general purpose of such historic automobile museum.
(2) For purposes
of this section, historic automobile museum means a museum as defined in section 51-702 that:
(a) Is used to maintain and exhibit to the public a collection
of at least one hundred fifty motor vehicles; and
(b) Was open to the public
an average of four or more hours per week during the previous calendar year.
(3) A museum
in its first year of existence may qualify as a historic automobile museum
under this section without complying with subdivision (2)(b) of this section
if all other requirements of subsection (2) of this section are met.
(4) If a museum
that has claimed an exemption under this section fails to qualify as a historic
automobile museum, such museum shall be subject to a deficiency determination
under section 77-2709 and notice of such deficiency determination may be served
or mailed within the applicable period provided in subdivision (5)(c) of section 77-2709 .

Legislative History

Source: Laws 2014, LB867, § 13.