Sec. 7. For purposes of this article, tangible personal property that is characteristically moving property, such as motor vehicles, rolling stock, aircraft, vessels, and mobile equipment, is considered to be located in Indiana if:

(1) the operation of the property is entirely in Indiana; or

(2) the operation of the property is not entirely in Indiana and:

(A) the operation outside Indiana is occasional and incidental to the operation in Indiana;

(B) the principal base of operations from which the property is sent out is in Indiana; or

(C) Indiana is the commercial domicile of the lessee or other user of the property and there is no principal base of operations.

As added by P.L.347-1989(ss), SEC.1.