316 Neb. Admin. Code, ch. 24, § 185 - UNITARY BUSINESS

185.01 Unitary business has the meaning provided in Neb.Rev. Stat. § 77-2734.04.

185.02 Common Ownership. Common ownership means one or more corporations owning 50% or more of another corporation.

185.03 Single Economic Unit. Single economic unit means a business where there is a sharing or exchange of value between the parts of the unit. Evidence of a sharing or exchange of value includes: common management or common operational resources; functional integration; economies of scale; transfers of value; or flows of goods, capital or services between the parts of the unit.

185.03A Common management includes, but is not limited to, a centralized executive force or review or approval authority over long-term operations with or without the exercise of control over the day-to-day operations.

185.03B Common operational resources include, but are not limited to, centralized: accounting; advertising; engineering; financing; insurance; legal; personnel; pension or benefit plans; purchasing; research and development; selling; or union relations.

185.04 Unitary Group. Unitary group has the same meaning as provided in Neb.Rev. Stat. § 77-2734.04. A unitary group does not include:

185.04A Any foreign corporation that does not meet the requirements of IRC § 243 in order for its distribution to qualify for the federal dividends received deduction;

185.04B Any financial institution as defined in Neb. Rev. Stat. § 77-3801; and

185.04C Any Real Estate Investment Trust that does not meet the requirements of IRC § 243 in order for its distribution to qualify for the federal dividends received deduction.

Notes

316 Neb. Admin. Code, ch. 24, § 185

Adopted effective 7/5/2020