Section 316-24-363 - PROPERTY FACTOR; NUMERATOR AND DENOMINATOR363.01 Numerator The numerator of the property factor includes the average value of the real and tangible personal property owned or rented by the taxpayer and used in this state during the tax period.
363.01A Property in transit between locations of the taxpayer is considered to be at its destination for purposes of the property factor.363.01B Property in transit between a buyer and seller which is included by a taxpayer in the denominator of its property factor in accordance with its regular accounting practices must be included in the numerator if the destination is Nebraska.363.01C The value of mobile property which is located within and outside Nebraska during the tax period must be included in the numerator of the factor in proportion to the total time within the state compared to its total time in all states during the tax period.363.01D Mobile property assigned to a traveling employee must be included in the numerator if the employee's compensation is assigned to Nebraska under the payroll factor or if the mobile property is a motor vehicle that is licensed in Nebraska.363.02 Denominator The denominator of the property factor is the average value of all real and tangible personal property owned or rented by the taxpayer.
363.03 Average Value The property factor is the average value of the property for the tax year.
363.03A The average value of property owned by the taxpayer is calculated by averaging the values at the beginning and ending of the tax period. However, the Tax Commissioner may require or allow averaging the monthly values if necessary to properly reflect the average value of the property for the tax period.363.03B Averaging by monthly values may be applied if substantial fluctuations in the values of the property exist during the tax period, or if property is acquired after the beginning of the tax period or disposed of before the end of the tax period.316 Neb. Admin. Code, ch. 24, § 363
Neb. Rev. Stat. § 77-2734.12 _____ .