Nebraska Statutes 77-4923. Qualified property, defined
Current as of: 2024 | Check for updates
|
Other versions
Qualified property means any tangible property of the type subject to depreciation, amortization, or other recovery under the Internal Revenue Code of 1986, as amended, or the components of such property that will be located and used at the project. Qualified property does not include aircraft, barges, motor vehicles, railroad rolling stock, or watercraft or property that is rented by the qualified company to another person.
Terms Used In Nebraska Statutes 77-4923
- Amortization: Paying off a loan by regular installments.
- Company: means any person subject to the sales and use taxes and either the income tax imposed by the Nebraska Revenue Act of 1967 or the franchise tax under sections Nebraska Statutes 77-4909
- Person: shall include bodies politic and corporate, societies, communities, the public generally, individuals, partnerships, limited liability companies, joint-stock companies, and associations. See Nebraska Statutes 49-801
- Project: means a project described in the Quality Jobs Act and approved by the board. See Nebraska Statutes 77-4920
- Qualified property: means any tangible property of the type subject to depreciation, amortization, or other recovery under the Internal Revenue Code of 1986, as amended, or the components of such property that will be located and used at the project. See Nebraska Statutes 77-4923