The classical school emphasizes production of goods and services as the key focus of economic analysis. Neoclassical economics focuses on how individuals operate within an economy. As such, the neoclassical school emphasizes the exchange of goods and services as the key focus of economic analysis.. (Source : Difference Between Classical & Neoclassical Economics | eHow) Here's information about the dates of emergence of neoclassical economics:
A random sampling of other states indicates the issue is mixed. For example, Illinois taxes the equipment if it is used in a manufacturing process. In Maine, there is no exemption. In Connecticut, all fire safety equipment is exempt.
SALES AND USE TAX ON SERVICES By: Rute Pinho, Principal Analyst ISSUE Provide a list of services subject to and exempt from the stateâs sales and use tax. SUMMARY Connecticut imposes a 6.35% sales and use tax, with certain exceptions, on a wide range of services. Like most states that levy sales and use taxes, services in Connecticut are presumed to be exempt from the tax unless they are specifically identified as taxable in statute. The District of Columbia and 40 states take the same approach to taxing services; the remaining four other states presume services are taxable unless they are specifically exempt