Terms Used In Nebraska Statutes 77-2701.19

• Business: means any activity engaged in by any person or caused to be engaged in by him or her with the object of gain, benefit, or advantage, either direct or indirect. See Nebraska Statutes 77-2701.07
• Contract: A legal written agreement that becomes binding when signed.
• Maintenance agreement: means any contract or agreement to provide or pay for the maintenance, repair, or refurbishing of an item, the sale of which is subject to tax under section 77-2703, for a stated period of time or interval of use. See Nebraska Statutes 77-2701.19
• Maintenance agreement does not: include any contract or agreement subject to the premium tax under Chapter 77, article 9, from a service contract business operating with a certificate of authority from the Department of Insurance. See Nebraska Statutes 77-2701.19
• Sale: means any transfer of title or possession or segregation in contemplation of transfer of title or possession, exchange, barter, lease, or rental, conditional or otherwise, in any manner or by any means, of property for a consideration or the provision of service for a consideration. See Nebraska Statutes 77-2701.33
• 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

Source

• Laws 1993, LB 345, § 31;
• R.S.1943, (1996), § 77-2702.25;
• Laws 2003, LB 282, § 23.