Nebraska Statutes 77-27,120. Income tax; Tax Commissioner; agreement with; effect
(1) The Tax Commissioner, or any person authorized in writing by him, is authorized to enter into an agreement with any person relating to the liability of such person, or of the person or estate for whom he acts, in respect to the tax imposed by the provisions of the Nebraska Revenue Act of 1967 for any taxable period.
Terms Used In Nebraska Statutes 77-27,120
- Action: shall include any proceeding in any court of this state. See Nebraska Statutes 49-801
- Agent: means a person appointed by a seller to represent the seller before the member states. See Nebraska Statutes 77-2701.05
- Assessment: means the act of listing the description of all real property and taxable tangible personal property, determining its taxability, determining its taxable value, and placing it on the assessment roll. See Nebraska Statutes 77-126
- Fraud: Intentional deception resulting in injury to another.
- Person: means any individual, firm, partnership, limited liability company, joint venture, association, social club, fraternal organization, corporation, estate, trust, business trust, receiver, trustee, syndicate, cooperative, assignee, or other group or combination acting as a unit. See Nebraska Statutes 77-2701.25
- 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
- Tax Commissioner: means the Tax Commissioner of the State of Nebraska. See Nebraska Statutes 77-2701.40
(2) Such agreement shall be final and conclusive, and, except upon a showing of fraud, malfeasance, or misrepresentation of a material fact:
(a) The case shall not be reopened as to matters agreed upon or the agreement modified by any officer, employee or agent of this state; and
(b) In any suit, action or proceeding under such agreement, or any determination, assessment, collection, payment, abatement, refund, or credit made in accordance therewith, shall not be annulled, modified, set aside or disregarded.
Source
- Laws 1967, c. 487, § 120, p. 1631.