§ 17952
114 words·~1 min read·
/ca/revenue-and-taxation-code/17952A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
For purposes of computing “taxable income of a nonresident or part-year resident” under paragraph
(1)of subdivision
(i)of Section 17041, income of nonresidents from stocks, bonds, notes, or other intangible personal property is not income from sources within this state unless the property has acquired a business situs in this state, except that if a nonresident buys or sells such property in this state or places orders with brokers in this state to buy or sell such property so regularly, systematically, and continuously as to constitute doing business in this state, the profit or gain derived from such activity is income from sources within this state irrespective of the situs of the property.