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.