42-11128

42-11128. Exemption for personal property in
transit; violation; classification

A. The following personal property has no situs in this state and is exempt from
taxation:

1. Personal property moving through this state to a final destination outside this
state.

2. Personal property consigned to a warehouse in this state from a point outside
this state for storage or assembly in transit to a final destination outside this state.

B. Property that is claimed to have no situs in this state for the purposes of
taxation shall be entered in the records of the warehouse in which it is located as
property in transit or futures contract property. The record shall include:

1. The date of receipt.

2. The date of withdrawal.

3. The point of origin.

4. The point of ultimate destination, if known.

C. The record of property shall be open at all times to inspection by the
department or the taxing authority of a political subdivision of this state.

D. A person who files a claim for exemption of property in transit shall do so on a
form and in the manner the department prescribes and shall include a certificate of the
operator of the warehouse in which the property is located stating that the property is
entered in the warehouse records as property in transit.

E. The owner or operator of a warehouse in or from which commodities that are
exempt under section 42-11122 are deliverable shall file an affidavit with the county
assessor between the first Monday in January and March 1 of each year stating that the
property in the warehouse is futures contract property. The assessor may require
additional evidence of the facts stated by the affidavit, but when the assessor accepts
the affidavit as complete and correct, the commodities that are stored or consigned in
the warehouse are considered to be exempt from taxation for the tax year under section
42-11122.

F. A person who knowingly makes a false statement in any document submitted under
this section to an officer who is charged with assessing property for tax purposes is
guilty of a class 6 felony.