Section 59-7-308 - Allocation of capital gains and lossesTo the extent that the following constitute nonbusiness income:
(1) capital gains and losses from sales of real property located in this state are allocable to this state;(2) capital gains and losses from sales of tangible personal property are allocable to this state if: (a) the property had a situs in this state at the time of the sale; or(b) the taxpayer's commercial domicile is in this state and the taxpayer is not taxable in the state in which the property had a situs; and(3) capital gains and losses from sales of intangible personal property are allocable to this state if the taxpayer's commercial domicile is in this state.Amended by Chapter 83, 1994 General Session