Nebraska Statutes 2-4111. Dry peas and lentils; excise tax; amount; adjustment
(1) Beginning on July 1, 2021, there is hereby levied an excise tax of one percent of the net market value of dry peas and lentils sold through commercial channels in the State of Nebraska. The tax shall be levied and imposed on the grower at the time of sale or delivery and shall be collected by the first purchaser. Under the Dry Pea and Lentil Resources Act, no dry peas and lentils shall be subject to the tax more than once.
Terms Used In Nebraska Statutes 2-4111
- State: when applied to different states of the United States shall be construed to extend to and include the District of Columbia and the several territories organized by Congress. See Nebraska Statutes 49-801
- Year: shall mean calendar year. See Nebraska Statutes 49-801
(2) After July 1, 2023, the commission may, whenever it determines that the excise tax levied by this section is yielding more or less than is required to carry out the intent and purposes of the Dry Pea and Lentil Resources Act, reduce or increase such levy for such period as it deems justifiable, but not less than one year, and such levy shall not be less than one percent of net market value and not exceed two percent of the net market value. Any adjustment to the levy shall be by rule and regulation adopted and promulgated by the commission.