96-19006. Qualified Small Business Stock; Correction

[Federal Register Volume 61, Number 145 (Friday, July 26, 1996)]
[Proposed Rules]
[Page 39104]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-19006]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 1

[IA-26-94]
RIN 1545-AU34


Qualified Small Business Stock; Correction

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Correction to notice of proposed rulemaking and notice of 
public hearing.

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SUMMARY: This document contains corrections to notice of proposed 
rulemaking and notice of public hearing (IA-26-94) which was published 
in the Federal Register on Thursday, June 6, 1996 (61 FR 28821). The 
notice of proposed rulemaking and notice of public hearing relates to 
the 50-percent exclusion for gain from certain small business stock.

FOR FURTHER INFORMATION CONTACT: Catherine A. Prohofsky [phone] 
(not a toll-free number).

SUPPLEMENTARY INFORMATION:

Background

    The notice of proposed rulemaking that is subject to these 
corrections are under section 1202 of the Internal Revenue Code.

Need for Correction

    As published, the notice of proposed rulemaking and notice of 
public hearing (IA-26-94) contain errors which may prove to be 
misleading and are in need of clarification.

Correction of Publication

    Accordingly, the publication of proposed rulemaking (IA-26-94) 
which is the subject of FR Doc. 96-14231 is corrected as follows:
    1. On page 28821, column 3, in the preamble, under the caption 
DATES:, lines 3 and 4, the language ``public hearing scheduled for 
October 3, 1996 must be'' is corrected to read ``public hearing 
scheduled for October 3, 1996, must be''.


Sec. 1.1202-0  [Corrected]

    2. On page 28822, column 3, Sec. 1.1202-0, table of contents, the 
entries for paragraphs (b) (1) and (2) under Sec. 1.1202-2, are 
corrected to read as follows:


Sec. 1.1202-0  Table of contents.

* * * * *

Sec. 1.1202-2  Qualified Small Business Stock; Effect of 
Redemptions.

* * * * *
    (b) * * *
    (1) In general.
    (2) De minimis amount.
* * * * *
Cynthia E. Grigsby,
Chief, Regulations Unit, Assistant Chief Counsel (Corporate).
[FR Doc. 96-19006 Filed 7-25-96; 8:45 am]
BILLING CODE 4830-01-U