What is machinery used in the conduct of business?
Machinery used in the conduct of business that is subject to tax to a business corporation includes machinery directly used by or capable of use by the corporation in generating its revenues, but specifically excludes its stock in trade (inventory) and any machinery directly used in laundering and dry-cleaning, refrigeration of goods and air-conditioning of premises and in any selling, purchasing, accounting or administrative function for its own, in-house purposes.
