Arizona Laws 43-1136. Capital gains and losses
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A. Capital gains and losses from sales of real property located in this state are allocable to this state.
Terms Used In Arizona Laws 43-1136
- Commercial domicile: means the principal place from which the trade or business of the taxpayer is directed or managed. See Arizona Laws 43-1131
- Personal property: All property that is not real property.
- Personal property: includes money, goods, chattels, things in action and evidences of debt. See Arizona Laws 1-215
- Property: includes both real and personal property. See Arizona Laws 1-215
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- Sales: means all gross receipts of the taxpayer not allocated under this article. See Arizona Laws 43-1131
- State: means any state of the United States, the District of Columbia, the Commonwealth of Puerto Rico, any territory or possession of the United States and any foreign country or political subdivision thereof. See Arizona Laws 43-1131
- Taxpayer: means any person subject to the tax imposed by this title. See Arizona Laws 43-1131
B. Capital gains and losses from the sales of tangible personal property are allocable to this state if either:
1. The property had a situs in this state at the time of the sale.
2. 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.
C. 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.