Yes, the gain is taxed under the CIT. A taxpayer's corporate income tax base is the taxpayer's business income, which is federal taxable income, before allocation or apportionment, subject to specific statutory adjustments after allocation or apportionment. MCL 206.623(2). To the extent the capital gain is included in the taxpayer's federal taxable income it must also be included in the corporate income tax base. There are no statutory exceptions, exclusions, or deductions under the CIT that are applicable to capital gains recognized by a corporation from the sale of capital assets.