12-1,103a.   Same; tax situs.(a) Gross earnings derived from money, notes and other evidence of debtwhich is received or receivable by any individual arising out of, oracquired in the conduct of, business transacted by such person in thisstate shall be presumed to have been received or receivable at theindividual's place of domicile within this state or, if there is no suchplace of domicile, then at the place or places at which any of the money,notes or other evidence of debt of the individual have acquired a situswithin this state.

      (b)   Gross earnings derived from money, notes and other evidence of debtwhich is received or receivable by any firm, association or corporationarising out of, or acquired in the conduct of, business transacted by suchfirm, association or corporation in this state shall be presumed to havebeen received or receivable at the principal business office of such firm,association or corporation located within this state or, if there is nosuch office, then at the place or places at which any of the money, notesor other evidence of debt of the firm, association or corporation haveacquired a situs within this state.

      (c)   The presumption created in subsections (a) and (b) may be rebuttedby substantial evidence that the person, firm, association or corporationotherwise entitled to receive the gross earnings from money, notes or otherevidence of debt has relinquished possession and control over such money,notes or other evidence of debt and the gross earnings therefrom, and thatthe money, notes or other evidence of debt and the gross earnings therefromhave been localized at, and integrated with the business of, some locationin this state other than that specified in subsection (a) or (b).

      History:   L. 1984, ch. 64, § 1; March 29.