If a business, trade, profession, or occupation is carried on partly within and partly without this State, the items of income and deduction derived from or connected with sources within this State shall be determined by apportionment and allocation under regulations to be prescribed by the director.

L.1971, c. 222, s. 27, approved June 17, 1971; expired December 31, 1980 pursuant to L.1971,c.222,s.62.