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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