What taxes qualify for the 1998 credit?

For tax year 1998, only the 1998 personal property tax timely paid in 1998 may be used for this credit. The balance of your 1997 personal property tax paid in 1998, and any delinquent taxes do not qualify for the credit.

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1. How much is the new income tax credit available to business machinery and equipment owners?
2. What types of machinery and equipment qualify for the credit?
3. What taxes qualify for the 1998 credit?
4. What taxes qualify in future years?
5. Who may take the credit?