[Federal Register Volume 68, Number 21 (Friday, January 31, 2003)]
[Proposed Rules]
[Pages 4969-4970]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 03-2332]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 1

[REG-125638-01]
RIN 1545-BA00


Guidance Regarding Deduction and Capitalization of Expenditures; 
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 a notice of proposed 
rulemaking and notice of public hearing that explains how section 
263(a) of the Internal Revenue Code (Code) applies to amounts paid to 
acquire, create, or enhance intangible assets. This document was 
published in the Federal Register on December 19, 2002 (67 FR 77701).

FOR FURTHER INFORMATION CONTACT: Andrew J. Keyso (202) 927-9397 (not a 
toll-free number).

SUPPLEMENTARY INFORMATION: 

Background

    The proposed regulations that are the subject of these corrections 
are under sections 263(a), 167, and 446 of the Internal Revenue Code.

Need for Correction

    As published, the proposed regulations REG-125638-01, contains 
errors that may prove to be misleading and are in need of 
clarification.

Correction of Publication

    Accordingly, the publication of the proposed regulations REG-
125638-01, which is the subject of FR Doc. 02-31859, is corrected as 
follows:
    1. On page 77704, column 1, in the preamble, under the paragraph 
heading ``Amounts Paid to Obtain or Modify Contract Rights'', paragraph 
4, the last two lines of the paragraph, the language ``agreement is a 
separate and distinct asset'' is corrected to read ``agreement is a 
separate and distinct intangible asset''.

[[Page 4970]]

Sec.  1.263(a)-4  [Corrected]

    2. On page 77722, column 2, Sec.  1.263(a)-4, paragraph (h)(4)(i), 
line 6, the language ``(relating to de minimis applicable to'' is 
corrected to read ``(relating to de minimis rules applicable to''.

Cynthia E. Grigsby,
Chief, Regulations Unit, Associate Chief Counsel, (Procedure and 
Administration).
[FR Doc. 03-2332 Filed 1-30-03; 8:45 am]
BILLING CODE 4830-01-P