Source: https://www.federalregister.gov/documents/2008/12/29/E8-30729/guidance-regarding-foreign-base-company-sales-income
Timestamp: 2018-02-24 18:23:36
Document Index: 563200754

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79421-79423 (3 pages)
https://www.federalregister.gov/d/E8-30729 https://www.federalregister.gov/d/E8-30729
Written or electronic comments must be received by March 30, 2009. Outlines of the topics to be discussed at Start Printed Page 79422the public hearing scheduled for April 20, 2009, at 10 a.m. must be received by April 2, 2009.
Send submissions to: CC:PA:LPD:PR (REG-150066-08), room 5203 Internal Revenue Service, PO Box 7604 Ben Franklin Station, Washington, DC 20044. Submissions may be hand-delivered Monday through Friday between the hours of 8 a.m. and 4 p.m. to CC:PA:LPD:PR (REG-150066-08), Courier's Desk, Internal Revenue Service, 1111 Constitution Avenue NW., Washington, DC 20224. Alternatively, taxpayers may submit electronic comments via the Federal eRulemaking Portal at http://www.regulations.gov (IRS-REG-150066-08).
The temporary regulations in the Rules and Regulations section of this issue of the Federal Register amend the Income Tax Regulations (26 CFR part 1) relating to foreign base company sales income, in cases in which personal property sold by a controlled foreign corporation (CFC) is manufactured, produced, or constructed pursuant to a contract manufacturing arrangement or by one or more branches of the CFC. These regulations, in general, will affect CFCs and their United States shareholders. The text of those temporary regulations also serves as the text of these proposed regulations. The preamble to the temporary regulations explains these proposed regulations.
A public hearing has been scheduled for April 20, 2009, beginning at 10 a.m. in the IRS Auditorium, Internal Revenue Building, 1111 Constitution Avenue, NW., Washington, DC. Due to building security procedures, visitors must enter at the Constitution Avenue entrance. In addition, all visitors must present photo identification to enter the building. Because of access restrictions, visitors will not be admitted beyond the Constitution Avenue entrance area more than 30 minutes before the hearing starts. For information about having your name placed on the building access list to attend the hearing, see the FOR FURTHER INFORMATION CONTACT section of this preamble.
Par. 2. Section 1.954-3 is amended by revising paragraphs (b)(1)(i)(c), (b)(1)(ii)(a), (b)(1)(ii)(c), (b)(2)(i)(b), (b)(2)(i)(d), (b)(2)(ii)(a), (b)(2)(ii)(b), (b)(2)(ii)(e), (b)(4) Example (3), (c), and (d), and adding Examples 8 and 9 to paragraph (b)(4), and adding paragraphs (e), (f) and (g) to read as follows:
(c) [The text of the proposed amendments to § 1.954-3(b)(1)(i)(c) is the same as the text of § 1.954-3T(b)(1)(i)(c) published elsewhere in this issue of the Federal Register].
(ii) * * * (a) [The text of the proposed amendments to § 1.954-3(b)(1)(ii)(a) is the same as the text of § 1.954-3T(b)(1)(ii)(a) published elsewhere in this issue of the Federal Register].
(c) [The text of the proposed amendments to § 1.954-3(b)(1)(ii)(c) is the same as the text of § 1.954-3T(b)(1)(ii)(c) published elsewhere in this issue of the Federal Register].
(b) [The text of the proposed amendments to § 1.954-3(b)(2)(i)(b) is the same as the text of § 1.954-3T(b)(2)(i)(b) published elsewhere in this issue of the Federal Register].
(d) [The text of the proposed amendments to § 1.954-3(b)(2)(i)(d) is the same as the text of § 1.954-3T(b)(2)(i)(d) published elsewhere in this issue of the Federal Register].
(a) [The text of the proposed amendments to § 1.954-3(b)(2)(ii)(a) is the same as the text of § 1.954-3T(b)(2)(ii)(a) published elsewhere in this issue of the Federal Register].
(b) [The text of the proposed amendments to § 1.954-3(b)(2)(ii)(b) is the same as the text of § 1.954-3T(b)(2)(ii)(b) published elsewhere in this issue of the Federal Register].
(e) [The text of the proposed amendments to § 1.954-3(b)(2)(ii)(e) is the same as the text of § 1.954-3T(b)(2)(ii)(e) published elsewhere in this issue of the Federal Register].
(4) * * *Start Printed Page 79423
Example (3). [The text of the proposed amendments to § 1.954-3(b)(4) Example 3 is the same as the text of § 1.954-3T(b)(4) Example 3 published elsewhere in this issue of the Federal Register].
Example 8. [The text of the proposed amendments to § 1.954-3(b)(4) Example 8 is the same as the text of § 1.954-3T Example 8 published elsewhere in this issue of the Federal Register].
Example 9. [The text of the proposed amendments to § 1.954-3(b)(4) Example 9 is the same as the text of § 1.954-3T Example 9 published elsewhere in this issue of the Federal Register].
(e) [The text of the proposed amendments to § 1.954-3(e) is the same as the text of § 1.954-3T(e) published elsewhere in this issue of the Federal Register].
(f) [The text of the proposed amendments to § 1.954-3(f) is the same as the text of § 1.954-3T(f) published elsewhere in this issue of the Federal Register].
(g) [The text of the proposed amendments to § 1.954-3(g) is the same as the text of § 1.954-3T(g) published elsewhere in this issue of the Federal Register].
[FR Doc. E8-30729 Filed 12-24-08; 8:45 am]