Federal Register / Vol. 60, No. 62 / Friday, March 31, 1995 / Rules and Regulations 16575

40. On page 67209, column 2,

§ 1.263A–10, paragraph (b)(6),

paragraph (ii) of Example 3., line 8, the

word ‘‘paragraph’’ is corrected to read

‘‘paragraphs’’.

41. On page 67209, column 2,

§ 1.263A–10, paragraph (b)(6),

paragraph (ii) of Example 3., line 6 from

the bottom of the paragraph, the

language ‘‘paragraph (b)(5) of this

section. Under’’ is corrected to read

‘‘paragraph (b)(5) of this section).

Under’’.

42. On page 67210, column 1,

§ 1.263A–10, paragraph (b)(6), in

Example 6., line 7, the language ‘‘the

costs of the allocable share of

swimming’’ is corrected to read ‘‘the

costs of the allocable share of the

swimming’’.

§ 1.263A–11 [Corrected]

43. On page 67211, column 1,

§ 1.263A–11, paragraph (c)(2), line 3, the

regulation section ‘‘§ 1,263A–8(d)(2)(ii)’’

is corrected to read ‘‘1.263A–8(d)(2)(ii)’’.

44. On page 67211, column 1,

§ 1.263A–11, paragraph (d)(1), line 23,

the language ‘‘or units of production, If

an asset used’’ is corrected to read ‘‘or

units of production. If an asset used’’.

45. On page 67211, column 2,

§ 1.263A–11, paragraph (e)(1)(ii)

introductory text, line 2, the language ‘‘a

unit of real property’’ is corrected to

read ‘‘a unit of real property—’’.

46. On page 67211, column 3,

§ 1.263A–11, paragraph (e)(1)(iii), line 4,

the word ‘‘the’’ is corrected to read

‘‘that’’.

47. On page 67211, column 3,

§ 1.263A–11, paragraph (e)(2), line 5, the

language ‘‘property costs are excluded

from the’’ is corrected to read ‘‘property

costs) are excluded from the’’.

§ 1.263A–12 [Corrected]

48. On page 67212, column 3,

§ 1.263A–12, paragraph (d)(4), line 3,

the word ‘‘example’’ is corrected to read

‘‘examples’’.

49. On page 67212, column 3,

§ 1.263A–12, paragraph (e)(2)

introductory text, line 1, the word

‘‘THe’’ is corrected to read ‘‘The’’.

§ 1.263A–13 [Corrected]

50. On page 67213, column 3,

§ 1.263A–13, paragraph (a), line 2 from

the bottom of the paragraph, the

language ‘‘and costs of features based on

the’’ is corrected to read ‘‘and costs of

common features based on the’’.

51. On page 67214, column 3,

§ 1.263A–13, paragraph (c)(7), paragraph

(ii) of Example., line 2, the language

‘‘the meaning of paragraph (c)(2)(i)) of

this’’ is corrected to read ‘‘the meaning

of paragraph (c)(2)(i) of this’’.

Cynthia E. Grigsby,

Chief, Regulations Unit, Associate Chief

Counsel (Corporate).

[FR Doc. 95–7857 Filed 3–30–95; 8:45 am]

BILLING CODE 4830–01–P

26 CFR Part 1

[TD 7837]

Income Tax; Taxable Years Beginning

After December 31, 1953; Treatment of

Losses on Small Business Stock;

Correction

AGENCY: Internal Revenue Service (IRS),

Treasury.

ACTION: Correcting amendments.

SUMMARY: This document contains a

correction to final regulations [TD 7837]

which were published in the Federal

Register for Wednesday, September 29,

1982 (47 FR 42728). The final

regulations restate and clarify a formula

relating to the computation of the

amount received for designated stock by

a small business corporation.

EFFECTIVE DATE: March 31, 1995.

FOR FURTHER INFORMATION CONTACT:

Christina Vasquez, (202) 622–7190 (not

a toll-free number).

SUPPLEMENTARY INFORMATION:

Background

The final regulations that are the

subject of these correcting amendments

are under section 1244 of the Internal

Revenue Code of 1954.

Need for Correction

As published, the final regulations

contains an error that is misleading and

in need of correction.

List of Subjects in 26 CFR Part 1

Income taxes, Reporting and

recordkeeping requirements.

Accordingly, 26 CFR Part 1 is

corrected by making the following

correcting amendments:

PART 1—INCOME TAXES

Paragraph 1. The authority citation

for Part 1 continues to read in part as

follows:

Authority: 26 U.S.C. 7805 * * *.

Par. 2. Section 1.1244(c)–2(b)(2)(i) is

amended by revising the last sentence as

follows:

§ 1.1244(c)–2 Small business corporation

defined.

* * * * *

(b) * * *

(2) * * *

(i) * * * The amount received for

designated stock shall not exceed

$1,000,000 less amounts received—

(A) In exchange for stock in years

prior to the transitional year;

(B) As contributions to capital in

years prior to the transitional year; and

(C) As paid-in surplus in years prior

to the transitional year.

* * * * *

Cynthia E. Grigsby,

Chief, Regulations Unit, Assistant Chief

Counsel (Corporate).

[FR Doc. 95–7969 Filed 3–30–95; 8:45 am]

BILLING CODE 4830–01–P

26 CFR Part 18

[TD 7976]

Certain Elections Under the Deficit

Reduction Act of 1984; Correction

AGENCY: Internal Revenue Service,

Treasury.

ACTION: Correcting amendment.

SUMMARY: This document contains a

correction to the temporary regulations

(TD 7976), which were published in the

Federal Register on Monday, September

10, 1984 (49 FR 35486), relating to the

time and manner of making certain

elections under the Deficit Reduction

Act of 1984.

EFFECTIVE DATE: March 31, 1995.

FOR FURTHER INFORMATION CONTACT:

Cynthia Grigsby, (202) 622–7180 (not a

toll-free call).

SUPPLEMENTARY INFORMATION:

Background

The temporary regulations that are the

subject of this correction are under

various sections of the Internal Revenue

Code of 1954 and the Deficit Reduction

Act of 1984 (98 Stat. 494).

Need for Correction

As published, TD 7976 contains an

error which may prove to be misleading

and is in need of clarification.

List of Subjects in 26 CFR Part 18

Income taxes, Reporting and

recordkeeping requirements.

Accordingly, 26 CFR part 18 is

corrected by making the following

correcting amendment:

PART 18—TEMPORARY INCOME TAX

REGULATIONS UNDER THE

SUBCHAPTER S REVISION ACT OF

1982

Paragraph 1. The authority citation

for part 18 continues to read in part as

follows: