2006 Nebraska Revised Statutes - § 77-105 — Tangible personal property, intangible personal property, defined.

Section 77-105
Tangible personal property, intangible personal property, defined.

The term tangible personal property includes all personal property possessing a physical existence, excluding money. The term intangible personal property includes all other personal property, including money.

Source:

Laws 1921, c. 133, art. I, § 4, p. 545

C.S.1922, § 5811

C.S.1929, § 77-104

Laws 1933, c. 156, § 2, p. 592

C.S.Supp.,1941, § 77-104

R.S.1943, § 77-105

Laws 1991, LB 829, § 6

Annotations:

Electricity is not tangible personal property for tax purposes. Omaha Pub. Power Dist. v. Nebraska Dept. of Revenue, 248 Neb 518, 537 N.W.2d 312 (1995).

Cited in discussion of taxability of intangible property of foreign corporation. International Harvester Co. v. County of Douglas, 146 Neb. 555, 20 N.W.2d 620 (1945).

In view of change in legislative definition of intangible property, corporation is taxable where it has its principal office or place of business. Joyce Lumber Co. v. Anderson, 125 Neb. 886, 252 N.W. 394 (1934).

~Reissue Revised Statutes of Nebraska