Nebraska Statutes 77-4931. Transactions and activities excluded
The following transactions or activities shall not create any investment, result in an increase in the number of new employees, or create any wage benefit credits under the Quality Jobs Act except as specifically allowed by this section:
Terms Used In Nebraska Statutes 77-4931
- Agreement: means the agreement between the company and the state. See Nebraska Statutes 77-4905
- Company: means any person subject to the sales and use taxes and either the income tax imposed by the Nebraska Revenue Act of 1967 or the franchise tax under sections 77-3801 to 77-3807, any corporation, partnership, limited liability company, or joint venture that is or would otherwise be a member of the same unitary group, if incorporated, which is, or whose partners, members, or owners are, subject to such taxes, and any other partnership, limited liability company, subchapter S corporation, or joint venture when the partners, owners, shareholders, or members are subject to such taxes. See Nebraska Statutes 77-4909
- Investment: means the value of qualified property incorporated into or used at the project after the date of the application. See Nebraska Statutes 77-4918
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Number of new employees: means the excess of the number of equivalent employees employed at the project during a year over the number of equivalent employees during the base year. See Nebraska Statutes 77-4919
- Person: shall include bodies politic and corporate, societies, communities, the public generally, individuals, partnerships, limited liability companies, joint-stock companies, and associations. See Nebraska Statutes 49-801
- Person shall: include bodies politic and corporate, societies, communities, the public generally, individuals, partnerships, limited liability companies, joint-stock companies, and associations. See Nebraska Statutes 49-801
- Purchase: shall include taking by sale, discount, negotiation, or any other transaction for value creating an interest in property except liens. See Nebraska Statutes 77-122
- State: when applied to different states of the United States shall be construed to extend to and include the District of Columbia and the several territories organized by Congress. See Nebraska Statutes 49-801
(1) The acquisition of a business located in this state which is continued by the company and which was operated in this state during the three hundred sixty-six days prior to the date of application or the date of acquisition, whichever is later. All of the employees of the acquired business during such period shall be considered base-year employees. Any investment in the acquisition of such business shall be considered as being made before the date of application;
(2) The moving of a business from one location in this state to another, which business was operated in this state during the three hundred sixty-six days prior to the date of application. All employees of the business during such three hundred sixty-six days shall be considered base-year employees;
(3) The purchase or lease of any property which was previously owned by the company or a related person. The first purchase by either the company or a related person shall be treated as investment if the item was first placed in service in this state after the date of the application;
(4) The renegotiation of any lease in existence on the date of application which does not materially change any of the terms of the lease, other than the expiration date, shall be presumed to be a transaction entered into for the purpose of generating benefits under the act and shall not be allowed in the computation of the meeting of any required levels of investment under the agreement;
(5) Any purchase or lease of property from a related person, except that the company will be allowed benefits under the act to which the related person would have been entitled on the purchase or lease of the property if the related person was considered the company; and
(6) Any transaction entered into primarily for the purpose of receiving benefits under the act which is without a business purpose and does not result in increased economic activity in this state.