Is there an exemption for supporting EMT that is a vertical drop from a ceiling to equipment?

No, only RMC, per Article 344.

The EMT can't support the equipment but the equipment mounting hardware could support the EMT if it was sufficiently built. You could probably find a way to grab the EMT within 3 feet of the termination if you thought about it. Maybe offset over and follow the rod up.

Thanks for replies, I must have been thinking about rigid. The question came from power drops to gondolas(sp)in a retail store......Why do they call them gondolas?

Check out 342.30(B)(3) and 344.30(B)(3). 20 verticle feet is allowed for both rigid and intermediate metal conduit if threaded couplings are used and support is provided at top and bottom.

Gondola? per Webster it is a barge, a balloon basket or a cable car. The NEC refers to industrial machinery or fixed equipment. I have never heard of the cashier's station being refered to as a gondola.....maybe in someone's imagination it resembles the Gondolas of Venice....Sing me a song, and push me along....