Nebraska Revised Statutes

Neb. Rev. Stat. § 77-122 (2026)

Purchase, defined

✓ current as of July 2026

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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.

Notes of Decisions

Cited in 3 cases, 2000–2016 · leading case: Stewart v. Nebraska Dept. of Rev., 885 N.W.2d 723 (Neb. 2016).

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Stewart v. Nebraska Dept. of Rev., 885 N.W.2d 723 (Neb. 2016). · cites it 2× “1010 allowed the county board of equalization to adjust property values for state tax purposes to reflect the federal valuation of the property.”

Pfizer Inc. v. Lancaster Cnty. Bd. of Equalization, 616 N.W.2d 326 (Neb. 2000). · cites it 3× “The TERC found that the purchase of the tangible personal property of SBAH by Pfizer was a purchase as defined by Neb. Rev. Stat. § 77-122 (Reissue 1996) and that the property must therefore be valued at its net book value as defined by Neb.”

Mid City Bank, Inc. v. Douglas Cnty. Bd. of Equalization, 616 N.W.2d 341 (Neb. 2000). · cites it 3× “The critical question is whether Mid City acquired the subject property by “purchase,” which is defined by Neb. Rev. Stat. § 77-122 (Reissue 1996) as follows: Purchase shall include taking by sale, discount, negotiation, or any other transaction for value creating an interest in…”

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