The agreement is an accord among individual cooperating sovereigns in furtherance of their governmental functions. The agreement provides a mechanism among the member states to establish and maintain a cooperative, simplified system for the application and administration of sales and use taxes under the duly adopted law of each member state.

Terms Used In Nebraska Statutes 77-2712.06

  • 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
  • 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
  Previous section
Next section  
 Nebraska Revenue Act of 1967 Contents