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Facility and the Mezzanine System constitute tangible personal
property within the meaning of section 48(a)(1)(A).
The term "tangible personal property" is defined in section
1.48-1(c), Income Tax Regs., as follows:
any tangible property except land and improvements
thereto, such as buildings or other inherently
permanent structures (including items which are
structural components of such buildings or structures).
* * * Tangible personal property includes all property
(other than structural components) which is contained
in or attached to a building. Thus, such property as
production machinery, printing presses, transportation
and office equipment, refrigerators, grocery counters,
testing equipment, display racks and shelves, and neon
and other signs, which is contained in or attached to a
building, constitutes tangible personal property for
purposes of the credit allowed by section 38. Further,
all property which is in the nature of machinery (other
than structural components of a building or other
inherently permanent structure) shall be considered
tangible personal property even though located outside
a building. * * *
Therefore, section 48(a)(1)(A), unlike section 48(a)(1)(B),
generally excludes from its scope not only buildings, but also
other inherently permanent structures and their structural
components.
To determine whether property is tangible personal property,
we must first determine whether that property is a "building"
within the meaning of section 1.48-1(e)(1), Income Tax Regs.
Loda Poultry Co. v. Commissioner, 88 T.C. 816, 824 (1987);
Munford, Inc. v. Commissioner, supra at 477. The term "building"
is generally defined as:
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