Neb. Admin. Code § 316-25-001 — Definition of Partnership Terms for Nebraska Tax Purposes

001.01 In general. For the purpose of applying the Nebraska income tax to partnerships, the definition of partnership, partner, partnership agreement, and liquidation of a partner's interest as contained in the Internal Revenue Code of 1986 shall apply. 001.02 Federal classification as a partnership. A federal classification of an entity as a partnership shall be the conclusive determination for Nebraska tax purposes. This includes a limited liability company classified for federal income tax purposes as a partnership. (Section 77-2773, R.R.S. 1996. November 11, 1998.)