Small Business Tax Reform Act

[AI summary unavailable — showing source text] Small Business Tax Reform Act - Title I: Tax Simplification Relating to Small Business - Provides for a study by the Treasury Department and a report to Congress on the desirability of providing special depreciation rules for small business and for changes in the Tax Code to equate the treatment of fringe benefits as between incorporated and unincorporated small businesses. Revises the provisions of the Internal Revenue Code relating to the payment by small taxpayers of specified employment and excise taxes. Title II: Increase of Corporate Surtax Exception - Increases the corporate surtax exemption from $25,000 to $100,000. Title III: Special Provisions to Encourage Establishment of New Small Business Enterprises - Extends to partnerships the option now afforded corporations to amortize their organization expenses over 60 months. Extends the bad debt deduction provisions of the Code to lenders, or guarantors of small business obligations, whether the businesses are incorporated or not. Increases from $25,000 to $50,000 the amount of allowable losses resulting from the purchase of specified small business stock. Title IV: Provisions to Assist Small Business Growth - Increases the ad…