Section 316-24-015 - SEPARATE ACCOUNTING015.01 If a taxpayer is engaged in a multistate business and the income derived from within Nebraska is separate and distinct from the income derived without Nebraska pursuant to the requirements stated below, the taxpayer may request permission to separately account taxable income to Nebraska. 015.01A The books and records are kept by recognized accounting standards to accurately reflect the amount of income of the multistate business which was realized in Nebraska during the taxable period,015.01B The business operations are separate and distinct and there are no interstate, intercompany, or interdivisional purchases, sales, or transfers during the period.316 Neb. Admin. Code, ch. 24, § 015
Section 77-2734.15, R.S.Supp., 1984. December 4, 1984.