[Federal Register Volume 68, Number 149 (Monday, August 4, 2003)]
[Notices]
[Pages 45893-45894]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 03-19707]


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DEPARTMENT OF THE TREASURY


Submission for OMB Review; Comment Request

July 25, 2003.
    The Department of Treasury has submitted the following public 
information collection requirement(s) to OMB for review and clearance 
under the Paperwork Reduction Act of 1995, Public Law 104-13. Copies of 
the submission(s) may be obtained by calling the Treasury Bureau 
Clearance Officer listed. Comments regarding this information 
collection should be addressed to the OMB reviewer listed and to the 
Treasury Department Clearance Officer, Department of the Treasury, Room 
11000, 1750 Pennsylvania Avenue, NW., Washington, DC 20220.

DATES: Written comments should be received on or before September 3, 
2003 to be assured of consideration.

Internal Revenue Service (IRS)

    OMB Number: 1545-0217.
    Form Number: IRS Form 5735 and Schedule P.
    Type of Review: Revision.
    Title: Possessions Corporation Tax Credit (Under Sections 936 and 
30A) (5735); and Allocation of Income and Expenses Under Section 
936(h)(5) (Schedule P).
    Description: Form 5735 is used to compute the possessions tax 
credit under sections 936 & 30A. Schedule P is used by corporations 
that elect to share the income or expenses with their affiliates. Each 
form provides the IRS with information to determine if the corporations 
have correctly computed the tax credit and the cost-sharing or profit-
split method.
    Respondents: Business or other for-profit.
    Estimated Number of Respondents/Recordkeepers: 1,371.
    Estimated Burden Hours Per Respondent/Recordkeeper:

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                                                            Form 5735                      Schedule P
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Recordkeeping.....................................  20 hr., 5 min............  9 hr., 48 min.
Learning about the law or the form................  4 hr., 48 min............  1 hr., 27 min.
Preparing the form................................  7 hr., 12 min............  2 hr., 36 min.
Copying, assembling, and sending the form to the    32 min...................  16 min.
 IRS.
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[[Page 45894]]

    Frequency of Response: Annually.
    Estimated Total Reporting/Recordkeeping Burden: 33,818 hours.
    Clearance Officer: Glenn Kirkland (202) 622-3428, Internal Revenue 
Service, Room 6411-03, 1111 Constitution Avenue, NW., Washington, DC 
20224.
    OMB Reviewer: Joseph F. Lackey, Jr. (202) 395-7316, Office of 
Management and Budget, Room 10235, New Executive Office Building, 
Washington, DC 20503.

Mary A. Able,
Departmental Reports Management Officer.
[FR Doc. 03-19707 Filed 8-1-03; 8:45 am]
BILLING CODE 4830-01-P