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Prinz, Donald R.
INTRODUCTION|(1) A tax is hereby imposed . . .on the taxable income derived from sources within this state of any corporation . . .whose business within this state during the taxable year consists exclusively of . . interstate commerce .... (2) Except as provided in subsection (1) . ..for the privilege of exercising its franchise or doing business in this state .. .there is hereby imposed a franchise tax on each corporation . . . measured by its entire net income derived from all sources within this state...|With these legislative words, Nebraska has informed the nation's corporations that they must determine: (a) Whether they are subject to one of the Nebraska taxes; (b) if so, whether the tax is to be the income tax or the franchise tax; (c) what portion of their income is subject to the tax;, and (d) how the Nebraska portion is to be ascertained and reported.: The purpose and design of this article is to provide the practitioner with an outline of the many state tax issues which may confront his corporate clients....
2 Creighton L. Rev. 78 (1968-1969)
Creighton University School of Law