Behigh Inc. headquarters is located in CA State. Behigh generates profits from the manufacture and sale of tires and invests its cash proceeds in

securities in CA State as a means of earning a good rate of return while protecting the principal and providing Behigh with liquidity. Behigh recognized a gain of $10.7 million

from the disposition of securities last year. The gross proceeds from these transactions, including returned principal, was $5.7 billion. The inclusion of the $5.7 billion in the sales factor reduced the factor from 15.3412% to 3.067%. The reduction in the sales factor caused the total apportionment factor to drop from 6.859% to 2.9821%. Behigh also has operations in GA State. The GA State Department of Revenue asserted that the portion of the gross proceeds from the securities transactions that was a return of

principal should not be included in gross receipts because it significantly distorted the representation of Behigh's business activity in GA State. Is this true or not and why?

What type of taxes are these and how are they taxed for the clients in these states: Ohio Commercial Activity Tax, Texas Franchise tax, Washington Business and Occupation tax.