[Federal Register Volume 61, Number 145 (Friday, July 26, 1996)]
[Rules and Regulations]
[Pages 39071-39072]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-19005]
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DEPARTMENT OF THE TREASURY
Internal Revenue Service
26 CFR Part 1
[TD 8669]
RIN 1545-AR18
Computation of Combined Taxable Income Under the Profit Split
Method When the Possession Product Is a Component Product or an End-
Product Form for Purposes of the Possessions Credit Under Section 936;
Correction
AGENCY: Internal Revenue Service (IRS), Treasury.
ACTION: Correction to final regulations.
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SUMMARY: This document contains corrections to final regulations [TD
8669] which were published in the Federal Register on Friday, May 10,
1996 (61 FR 21366). The final regulations relate to the computation of
combined taxable income under the profit split method.
EFFECTIVE DATE: May 10, 1996.
FOR FURTHER INFORMATION CONTACT: Jacob Feldman (202) 622-3870 (not a
toll-free number).
[[Page 39072]]
SUPPLEMENTARY INFORMATION:
Background
The final regulations that are subject to these corrections are
under section 936 of the Internal Revenue Code.
Need for Correction
As published, the final regulations [TD 8669] contain errors which
may prove to be misleading and are in need of clarification.
Correction of Publication
Accordingly, the publication of the final regulations (TD 8669)
which is the subject of FR Doc. 96-11639, is corrected as follows:
1. On page 21366, column 3, in the preamble, following the
paragraph heading ``Discussion'', the first full paragraph in the
column, line 4, the language ``forms under the profit-split method'' is
corrected to read ``forms under the profit split method''.
2. On page 21367, column 1, in the preamble, following the
paragraph heading ``Discussion'', the second full paragraph in the
column, lines 12 and 13, the language ``regulation is effective for
taxable years ending 30 days after May 10, 1996. If'' is corrected to
read ``regulations apply to taxable years ending after June 9, 1996.
If''.
Sec. 1.936-6 [Corrected]
3. On page 21368, Sec. 1.936-6, in paragraph (b)(1), in the table
in A.12(iv), under the heading ``Production costs (excluding costs of
materials):'', item 3, the language ``3. P's costs for the CPU's (the
possession product)'' is corrected to read ``3. P's costs for the CPUs
(the possession product)''.
4. On page 21369, column 3, Sec. 1.936-6, in paragraph (b)(1),
under A.12(vii), line 3, the language ``ending 30 days after May 10,
1996. If'' is corrected to read ``ending after June 9, 1996. If''.
Cynthia E. Grigsby,
Chief, Regulations Unit, Assistant Chief Counsel (Corporate).
[FR Doc. 96-19005 Filed 7-25-96; 8:45 am]
BILLING CODE 4830-01-U
