Terms Used In Nebraska Statutes 77-2701.20

• Governing board: means the body containing representatives from each state that is a member of the streamlined sales and use tax agreement that is responsible for approving membership or withdrawal of states to the agreement, registering retailers to collect sales and use tax from purchasers in the member states, certifying service providers and automated systems for collecting sales and use taxes, approving monetary allowances for certified service providers and certified automated systems, resolving disputes among member states or with retailers or certified service providers, and otherwise executing the provisions of the agreement for the benefit of the member states under the terms of the agreement. See Nebraska Statutes 77-2701.15
• Member states: means any and all states that have been approved initially or later admitted by the governing board for participation in the streamlined sales and use tax agreement. See Nebraska Statutes 77-2701.20
• Participation: means an extension of credit in which an undivided ownership interest is held on a pro rata basis in a single loan or pool of loans and related collateral. See Nebraska Statutes 77-2734.04
• 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 77-2712. See 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