Small Business Revitalization Act

Small Business Revitalization Act - Amends the Internal Revenue Code to provide graduated investment credit rates up to $50,000 of qualified investment, at which amount the current statutory rate shall apply. Establishes graduated corporate income tax rates culminating in a maximum rate of 25 percent of so much of the taxable income as exceeds $60,000. Increases the corporate surtax rate to 23 percent. Increases the corporate surtax exemption to $70,000.

Authorizes taxpayers to elect the nonrecognition of gain on the sale or exchange of qualified small business property to the extent that the amount realized on such sale or exchange is reinvested during the reinvestment period in qualified small business property. Reduces the basis in the newly acquired qualified small business property by the amount of gain which is not recognized in the prior sale or exchange transaction.

Allows the executor of an estate which includes an interest in a qualified closely held business which exceeds either 35 percent of the value of the gross estate or 50 percent of the value of the taxable estate, but is less than $300,000 to elect: (1) to pay the estate tax in up to 20 equal annual installments (presently ten); and (2) to defer the payment of the first installment until five years after the filing of the return.

Defines the terms used in this Act.

Makes technical and conforming amendments.