95-4902. Election Out of Subchapter K for Producers of Natural Gas; Correction

[Federal Register Volume 60, Number 40 (Wednesday, March 1, 1995)]
[Rules and Regulations]
[Page 11028]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-4902]



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DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 1

[TD 8578]
RIN 1545-AP23


Election Out of Subchapter K for Producers of Natural Gas; 
Correction

AGENCY: Internal Revenue Service (IRS), Treasury.

SUMMARY: This document contains a correction to final regulations [TD 
8578] which was published in the Federal Register for Friday, December 
23, 1994 (59 FR 66181). The final regulations provide that the co-
producers under a joint operating agreement must use one of two 
permissible methods described in the regulations in reporting income 
from gas sales and certain related deductions and credits.

EFFECTIVE DATE: January 1, 1995.

FOR FURTHER INFORMATION CONTACT: Grace Kim, [phone] (not a toll-
free number).

SUPPLEMENTARY INFORMATION:

Background

    The final regulations that are the subject of this correction are 
under section 761 of the Internal Revenue Code.

Need for Correction

    As published, TD 8578 contains a typographical error that is in 
need of correction.

Correction of Publication

    Accordingly, the publication of the final regulations which is the 
subject of FR Doc. 94-31291, is corrected as follows:

    On page 66183, column 2, Sec. 1.761-2, paragraph (d)(2)(i), ninth 
line from the bottom of the paragraph, regulation section 
``Sec. 1.4461(e)(3)'' is corrected to read ``Sec. 1.446-1(e)(3)''.

Cynthia E. Grigsby,

Chief, Regulations Unit, Assistant Chief Counsel (Corporate).

[FR Doc. 95-4902 Filed 2-28-95; 8:45 am]

BILLING CODE 4830-01-P