[Federal Register Volume 67, Number 179 (Monday, September 16, 2002)]
[Proposed Rules]
[Page 58346]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 02-23497]


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 Proposed Rules
                                                 Federal Register
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 This section of the FEDERAL REGISTER contains notices to the public of 
 the proposed issuance of rules and regulations. The purpose of these 
 notices is to give interested persons an opportunity to participate in 
 the rule making prior to the adoption of the final rules.
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  Federal Register / Vol. 67, No. 179 / Monday, September 16, 2002 / 
Proposed Rules  

[[Page 58346]]



DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 1

[REG-208280-86; REG-136311-01]
RIN 1545-AJ57; RIN 1545-BB30


Exclusions From Gross Income of Foreign Corporations; Correction

AGENCY: Internal Revenue Service (IRS), Treasury.

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

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SUMMARY: This document contains corrections to a notice of proposed 
rulemaking and notice of public hearing that was published in the 
Federal Register on Friday, August 2, 2002 (67 FR 50510), relating to 
exclusions from gross income of foreign corporations.

FOR FURTHER INFORMATION CONTACT: Patricia Bray (202) 622-3880 (not a 
toll-free number).

SUPPLEMENTARY INFORMATION:

Background

    The notice of proposed rulemaking and notice of public hearing that 
is subject to these corrections is under section 883 of the Internal 
Revenue Code.

Need for Correction

    As published the notice of proposed rulemaking and notice of public 
hearing contains errors that may prove to be misleading and are in need 
of clarification.

Correction of Publication

    Accordingly, the publication of the notice of proposed rulemaking 
and notice of public hearing (REG-208280-86; REG-136311-01), which was 
the subject of FR Doc. 02-19127, is corrected as follows:
    1. On page 50510, column 1, line 5 of the heading, the numbers 
``RIN 1545-AJ57; RIN 1545-BA07'' is corrected to read ``RIN 1545-AJ57; 
RIN 1545-BB30''.
    2. On page 50512, column 2, in the preamble under the paragraph 
heading ``ii. Space or slot charters.'', first full paragraph, line 8 
from the bottom of the paragraph, the language ``is incidental to the 
operation ships or'' is corrected to read ``is incidental to the 
operation of ships or''.
    3. On page 50515, column 3, in the preamble under the heading ``C. 
Comments Relating to Sec.  1.883-2: Treatment of Publicly-Traded 
Corporations'', second paragraph, line 2 from the bottom of the 
paragraph, the language ``aggregate 50 percent of more of the'' is 
corrected to read aggregate 50 percent or more of the''.
    4. On page 50518, column 2, in the preamble under the paragraph 
heading ``3. Certain limitation on benefits article restrictions in 
income tax conventions applied to shareholders.'', line 3 from the top 
of the column, the language ``limitation of benefits article of the 
treaty'' is corrected to read ``limitation on benefits article of the 
treaty''.


Sec.  1.883-1  [Corrected]

    5. On page 50521, column 2, Sec.  1.883-1(c)(3)(ii), line 6, the 
language ``under Sec.  1.883-2(f), 1.882-3(d) or 1.883-'' is corrected 
to read ``under Sec. Sec.  1.883-2(f), 1.883-3(d) or 1.883-''.
    6. On page 50525, column 2, Sec.  1.883-1(h)(2), lines 5, 6 and 7, 
from the top of the column, the language ``each category of income 
listed in (i) through (viii) of this section paragraph (h)(2)'' is 
corrected to read ``each category of income listed in paragraphs 
(h)(2)(i) through (viii) of this section''.


Sec.  1.883-2  [Corrected]

    7. On page 50528, column 2, Sec.  1.883-2(f)(2), line 3, the 
language ``that the stock is listed;'' is corrected to read ``the stock 
is listed;''.


Sec.  1.883-4  [Corrected]

    8. On page 50533, column 1, Sec.  1.883-4(d)(3)(ii), lines 3 and 4, 
the language requirements of paragraphs (d)(3)(ii)(A) and (B) are 
satisfied. If the widely-held'' is corrected to read ``requirements of 
paragraphs (d)(3)(ii)(A) and (B) of this section are satisfied. If the 
widely-held''.
    9. On page 50534, column 2, Sec.  1.883-4(d)(4)(iii)(B), line 3, 
the language ``that the stock is listed;'' is corrected to read ``the 
stock is listed;''.
    10. On page 50534, column 3, Sec.  1.883-4(d)(4)(iv)(B), line 3, 
the language ``this section (as if it the language applied'' is 
corrected to read ``this section (as if the language applied''.

Cynthia E. Grigsby,
Chief, Regulations Unit, Associate Chief Counsel, (Income Tax & 
Accounting).
[FR Doc. 02-23497 Filed 9-13-02; 8:45 am]
BILLING CODE 4830-01-P