Small Business Tax Reduction Act of 1979

Small Business Tax Reduction Act of 1979 - Amends the Internal Revenue Code to reduce the tax on corporate income: (1) from 17 percent to 15 percent of the first $25,000; (2) by increasing the range of the 30 percent rate from $50,000-$75,000 to $50,000-$100,000; (3) by increasing the range of the 40 percent rate from $75,000-$100,000-$100,000-$150,000; and (4) by including the minimum threshold for the 46 percent rate from $100,000 to $150,000.