77-4922. Qualified business, defined.
Qualified business means any business engaged in the activities listed in subdivisions (1) through (5) of this section or in the storage, warehousing, distribution, transportation, or sale of tangible personal property. Qualified business does not include any business activity in which eighty percent or more of the total sales are sales to the ultimate consumer of food prepared for immediate consumption or are sales to the ultimate consumer of tangible personal property which is not assembled, fabricated, manufactured, or processed by the company or used by the purchaser in any of the following activities:
(1) The conducting of research, development, or testing for scientific, agricultural, animal husbandry, food product, or industrial purposes;
(2) The performance of data processing, telecommunication, insurance, or financial services. Financial services, for purposes of this subdivision, shall only include financial services provided by any financial institution subject to tax under sections 77-3801 to 77-3807 or any person or entity licensed by the Department of Banking and Finance or the Securities and Exchange Commission;
(3) The assembly, fabrication, manufacture, or processing of tangible personal property;
(4) The administrative management of any activities, including headquarter facilities, relating to such activity; or
(5) Any combination of the activities listed in this section.
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