Nebraska Statutes 77-2712.02. Legislative findings
(1) The Legislature finds that a simplified sales and use tax system will reduce and over time eliminate the burden and cost for all sellers to collect this state‘s sales and use tax. The Legislature further finds that this state should participate in a multistate agreement to simplify and modernize sales and use tax administration in order to substantially reduce the burden of tax compliance for all sellers and for all types of commerce.
Terms Used In Nebraska Statutes 77-2712.02
- 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
- Sales: means all gross receipts of the taxpayer, except:
(a) Income from discharge of indebtedness. See Nebraska Statutes 77-2734.04
- State: means any state of the United States, the District of Columbia, the Commonwealth of Puerto Rico, any territory or possession of the United States, and any foreign country or political subdivision thereof. 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
(2) It is the purpose of the streamlined sales and use tax agreement to simplify and modernize sales and use tax administration in the member states in order to substantially reduce the burden of compliance. The agreement focuses on improving sales and use tax administration systems for all sellers and for all types of commerce through all of the following:
(a) State-level administration of sales and use tax collections;
(b) Uniformity in the state and local tax bases;
(c) Uniformity of major tax base definitions;
(d) A central, electronic registration system for all member states;
(e) Simplification of state and local tax rates;
(f) Uniform sourcing rules for all taxable transactions;
(g) Simplified administration of exemptions;
(h) Simplified tax returns;
(i) Simplification of tax remittances; and
(j) Protection of consumer privacy.
(3) This agreement shall not be construed as intending to influence a member state to impose a tax on or provide an exemption from tax for any item or service. However, exemptions granted shall adhere to uniform definitions as set out in the agreement.