Purchase shall include taking by sale, discount, negotiation, or any other transaction for value creating an interest in property except liens. Purchase shall not include transfers for stock or other ownership interests upon creation, dissolution, or any other tax-free reorganization for income tax purposes of any corporation, partnership, limited liability company, trust, or other entity.
Neb. Rev. Stat. § 77-122
Purchase, defined
Applied in 3 court decisions — leading case Stewart v. Nebraska Dept. of Rev. (2016)
Most recently applied in Stewart v. Nebraska Dept. of Rev. (October 2016)
Laws 1992, LB 1063, § 51; Laws 1992, Second Spec
Official source: Nebraska Legislature. Reproduced from public-domain Nebraska statutes; confirm against the official source for the current text. Not legal advice.