Nebraska § 77-2734.12 Income tax; property factor; how determined

Nebraska Statutes

§ 77-2734.12 — Income tax; property factor; how determined

Nebraska § 77-2734.12

Ch. 77Revenue and Taxation

This text of Nebraska § 77-2734.12 (Income tax; property factor; how determined) 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. § 77-2734.12 (2026).

Text

(1)The property factor is a fraction, the numerator of which is the average value of the taxpayer's real and tangible personal property owned or rented and used in this state during the tax period and the denominator of which is the average value of all the real and tangible personal property owned or rented and used during the tax period.

(2)Property owned is valued at its original cost. Property rented is valued at eight times the net annual rental rate. Net annual rental rate is the annual rental rate paid by the taxpayer.

(3)The average value of property shall be determined by averaging the values at the beginning and end of the tax period, but the Tax Commissioner may require the averaging of monthly values during the tax period if reasonably required to reflect properly the averag

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(1) The property factor is a fraction, the numerator of which is the average value of the taxpayer's real and tangible personal property owned or rented and used in this state during the tax period and the denominator of which is the average value of all the real and tangible personal property owned or rented and used during the tax period.
(2) Property owned is valued at its original cost. Property rented is valued at eight times the net annual rental rate. Net annual rental rate is the annual rental rate paid by the taxpayer.
(3) The average value of property shall be determined by averaging the values at the beginning and end of the tax period, but the Tax Commissioner may require the averaging of monthly values during the tax period if reasonably required to reflect properly the average value of the property.