§ 17951-2. ** Income from Sources Within This State.

Income from sources within this State includes income from real or tangible personal property located in this State (see Reg. 17951-3); income from a business, trade, or profession carried on within this State (see Reg. 17951-4); compensation for personal services performed within this State (see Reg. 17951-5); and income from stocks, bonds, notes, bank deposits and other intangible personal property having a business or taxable situs in this State (see Reg. 17952; and rentals or royalties for the use of, or for the privilege of using in this State, patents, copyrights, secret processes and formulas, good will, trade-marks, trade brands, franchises, and other like property having a taxable or business situs in this State (see Reg. 17952). Qualified retirement income, as defined in Section 17952.5 of the Revenue and Taxation Code received by a nonresident during a taxable year beginning on or after January 1, 1996, is not included in gross income derived from sources within this State.