Terms Used In Nebraska Statutes 77-2701.26

• Person: means any individual, firm, partnership, limited liability company, joint venture, association, social club, fraternal organization, corporation, estate, trust, business trust, receiver, trustee, syndicate, cooperative, assignee, or other group or combination acting as a unit. See Nebraska Statutes 77-2701.25
• Product-based exemption: means an exemption based on the description of the product that is the subject of the transaction and not based on the identity of the person purchasing or selling the product or the ultimate use of the product. See Nebraska Statutes 77-2701.26
• Use: means the exercise of any right or power over property incident to the ownership or possession of that property, except that use does not include the sale of that property in the regular course of business or the exercise of any right or power over property which will enter into or become an ingredient or component part of property manufactured, processed, or fabricated for ultimate sale at retail. See Nebraska Statutes 77-2701.42