Appeal of Cone Mills, Inc.

90 PTC 27 and 921PTC1053, Appeal of Cone Mills, Inc. v. Guilford County, textile manufacturing facility, inventory, goods held for sale, Court of Appeals case. "Taxpayer acquired the property primarily for use in its manufacture of textiles and only held the goods for sale after the property was no longer useful in taxpayer's textile business. The equipment and machinery at issue was not inventory held for sale in the regular course of business by a wholesale merchant."