Section 235-26 - Allocation of capital gains and losses(a) Capital gains and losses from sales of real property located in this State are allocable to this State.(b) Capital gains and losses from sales of tangible personal property are allocable to this State if: (1) The property had a situs in this State at the time of the sale; or(2) The taxpayer's commercial domicile is in this State and the taxpayer is not taxable in the state in which the property had a situs.(c) Except in the case of the sale of a partnership interest, capital gains and losses from sales of intangible personal property are allocable to this State if the taxpayer's commercial domicile is in this State.(d) Gain or loss from the sale of a partnership interest is allocable to this State in the ratio of the original cost of partnership tangible property in the State to the original cost of partnership tangible property everywhere, determined at the time of the sale. If more than fifty per cent of the value of a partnership's assets consists of intangibles, gain or loss from the sale of the partnership interest shall be allocated to this State in accordance with the sales factor of the partnership for its first full tax period immediately preceding its tax period during which the partnership interest was sold.L 1967, c 33, pt of §1; HRS § 235-26; am L 1989, c 19, §1