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Current as of February 09, 2022 | Updated by FindLaw Staff
Sec. 112. (1) Capital gains and losses from sales or exchanges of real property located in this state are allocable to this state.
(2) Capital gains and losses from sales or exchanges 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 is a resident partnership, estate or trust or individual of this state or has a commercial domicile in this state and the taxpayer is not taxable in the state in which the property had a situs.
(3) Capital gains and losses from sales or exchanges of intangible personal property are allocable to this state if the taxpayer is a resident partnership, estate or trust or individual of this state or has a commercial domicile in this state.
Cite this article: FindLaw.com - Michigan Compiled Laws, Chapter 206. Income Tax Act of 1967 § 206.112 - last updated February 09, 2022 | https://codes.findlaw.com/mi/chapter-206-income-tax-act-of-1967/mi-comp-laws-206-112/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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