Terms Used In Nebraska Statutes 77-2701.38

• Sales: means all gross receipts of the taxpayer, except:

  (a) Income from discharge of indebtedness. See Nebraska Statutes 77-2734.04

• Streamlined sales and use tax agreement: means the streamlined sales and use tax agreement approved by the implementing states on November 12, 2002, including amendments ratified by the Legislature pursuant to section Nebraska Statutes 77-2701.38
• 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