Small Business Military Reservist Tax Credit Act

Summary

Small Business Military Reservist Tax Credit Act - Amends the Internal Revenue Code to allow: (1) certain small business employers (50 or fewer employees) and small manufacturers (100 or fewer employees) a tax credit for a percentage of the differential between the average daily civilian compensation and average daily military pay and allowances of their military reservist employees who are called to active duty; (2) such employers a tax credit for the hiring of temporary replacement employees; and (3) self-employed military reservists a comparable tax credit for a percentage of the differential between their average daily self-employment income and their average daily military pay and allowances. Denies a tax credit: (1) to employers who fail to comply with employment or reemployment rights of military reservists; and (2) for employees who are called to active duty for training.

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3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 1 February 2005

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• Introduced in Senate (PDF)

  Introduced in Senate · EN · 1 February 2005

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• Introduced in Senate

  summary · EN · 1 February 2005

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