Terms Used In Nebraska Statutes > ImagiNE Nebraska Act

• Action: shall include any proceeding in any court of this state. See Nebraska Statutes 49-801
• Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
• Amortization: Paying off a loan by regular installments.
• Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Attorney: shall mean attorney at law. See Nebraska Statutes 49-801
• Base year: means the year immediately preceding the year of application, subject to the following exceptions:

  (1) Except as otherwise provided in subdivision (2) of this section, if the year of application is 2021, the base year is either 2019 or 2020, whichever year the applicant had the larger number of equivalent employees at the qualified location or locations. See Nebraska Statutes 77-6805

• Base-year employee: means any individual who was employed in Nebraska and subject to the Nebraska income tax on compensation received from the taxpayer or its predecessors during the base year and who is employed at the qualified location or locations. See Nebraska Statutes 77-6806
• Carryover period: means the period of three years immediately following the end of the performance period. See Nebraska Statutes 77-6807
• Company: shall include any corporation, partnership, limited liability company, joint-stock company, joint venture, or association. See Nebraska Statutes 49-801
• Company shall: include any corporation, partnership, limited liability company, joint-stock company, joint venture, or association. See Nebraska Statutes 49-801
• Compensation: means the wages and other payments subject to the federal medicare tax. See Nebraska Statutes 77-6808
• Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
• Contract: A legal written agreement that becomes binding when signed.
• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• County assessor: includes an elected or appointed county assessor or a county clerk who is an ex officio county assessor. See Nebraska Statutes 77-115
• Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
• Director: means the Director of Economic Development. See Nebraska Statutes 77-6809
• Domestic: when applied to corporations shall mean all those created by authority of this state. See Nebraska Statutes 49-801
• Entitlement: A Federal program or provision of law that requires payments to any person or unit of government that meets the eligibility criteria established by law. Entitlements constitute a binding obligation on the part of the Federal Government, and eligible recipients have legal recourse if the obligation is not fulfilled. Social Security and veterans' compensation and pensions are examples of entitlement programs.
• Equivalent employees: means the number of employees computed by dividing the total hours paid in a year by the product of forty times the number of weeks in a year. See Nebraska Statutes 77-6810
• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• Fiduciary: A trustee, executor, or administrator.
• Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
• Fraud: Intentional deception resulting in injury to another.
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
• Investment: means the value of qualified property incorporated into or used at the qualified location or locations. See Nebraska Statutes 77-6811
• Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
• 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}
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Motor vehicle: means any motor vehicle, trailer, or semitrailer as defined in the Motor Vehicle Registration Act and subject to registration for operation on the highways. See Nebraska Statutes 77-6812
• NAICS: means the North American Industry Classification System established by the United States Department of Commerce and applied to classify the locations owned or leased by the taxpayer, including the specific NAICS codes and code definitions in effect on January 1, 2020. See Nebraska Statutes 77-6813
• Nebraska statewide average hourly wage for any year: means the most recent statewide average hourly wage paid by all employers in all counties in Nebraska as calculated by the Office of Labor Market Information of the Department of Labor using annual data from the Quarterly Census of Employment and Wages by October 1 of the year prior to application. See Nebraska Statutes 77-6814
• Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
• Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
• Performance period: means the year during which the required increases in employment and investment were met or exceeded and each year thereafter until the end of the sixth year after the year the required increases were met or exceeded. See Nebraska Statutes 77-6816
• 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
• Personal property: All property that is not real property.
• Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
• Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.
• 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
• Qualified employee leasing company: means a company which places all employees of a client-lessee on its payroll and leases such employees to the client-lessee on an ongoing basis for a fee and, by written agreement between the employee leasing company and a client-lessee, grants to the client-lessee input into the hiring and firing of the employees leased to the client-lessee. See Nebraska Statutes 77-6817
• Qualified location: means a location at which the majority of the business activities conducted are within one or more of the following NAICS codes or the following descriptions:

  (a) Manufacturing - 31, 32, or 33, including pre-production services. See Nebraska Statutes 77-6818

• Qualified property: means any tangible property of a type subject to depreciation, amortization, or other recovery under the Internal Revenue Code of 1986, as amended, or the components of such property, that will be located and used at the project. See Nebraska Statutes 77-6819
• Ramp-up period: means the period of time from the date of the complete application through the end of the fourth year after the year in which the complete application was filed with the director. See Nebraska Statutes 77-6820
• Related persons: means any corporations, partnerships, limited liability companies, or joint ventures which are or would otherwise be members of the same unitary group, if incorporated, or any persons who are considered to be related persons under either section 267(b) and (c) or section 707(b) of the Internal Revenue Code of 1986, as amended. See Nebraska Statutes 77-6821
• 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
• Taxpayer: means any person subject to sales and use taxes under the Nebraska Revenue Act of 1967 and subject to withholding under section 77-2753 and any entity that is or would otherwise be a member of the same unitary group, if incorporated, that is subject to such sales and use taxes and such withholding. See Nebraska Statutes 77-6822
• Testimony: Evidence presented orally by witnesses during trials or before grand juries.
• United States: shall include territories, outlying possessions, and the District of Columbia. See Nebraska Statutes 49-801
• United States shall: include territories, outlying possessions, and the District of Columbia. See Nebraska Statutes 49-801
• Violate: shall include failure to comply with. See Nebraska Statutes 49-801
• Wages: means compensation, not to exceed one million dollars per year for any employee. See Nebraska Statutes 77-6823
• Year: means calendar year. See Nebraska Statutes 77-6824
• Year: shall mean calendar year. See Nebraska Statutes 49-801
• Year of application: means the year that a completed application is filed under the ImagiNE Nebraska Act. See Nebraska Statutes 77-6825