[Federal Register Volume 77, Number 128 (Tuesday, July 3, 2012)]
[Proposed Rules]
[Pages 39452-39453]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2012-16236]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 1

[REG-107889-12]
RIN 1545-BK85


Substantial Business Activities; Correction

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Correction to a notice of proposed rulemaking by cross-
reference to temporary regulations.

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SUMMARY: This document corrects a notice of proposed rulemaking by 
cross-reference to temporary regulations (REG-107889-12) that was 
published in the Federal Register on Tuesday, June 12, 2012 (77 FR 
34887) regarding whether a foreign corporation has substantial business 
activities in a foreign country.

FOR FURTHER INFORMATION CONTACT: Concerning the proposed regulations,

[[Page 39453]]

Mary W. Lyons, (202) 622-3860; and David A. Levine, (202) 622-3860, and 
regarding the submission of public comments and the public hearing, Ms. 
Oluwafunmilayo (Funmi) Taylor, at (202) 622-7180 (not toll-free 
numbers).

SUPPLEMENTARY INFORMATION: 

Background

    The notice of proposed rulemaking by cross-reference to temporary 
regulations (REG-107889-12) that is the subject of this correction is 
under section 7874 of the Internal Revenue Code.

Need for Correction

    As published, REG-107889-12, contains an error that may prove to be 
misleading and is in need of clarification.

Correction of Publication

    Accordingly, the publication of the correction to a notice of 
proposed rulemaking by cross-reference to temporary regulations (REG-
107889-12), which was the subject of FR. Doc. 2012-14238, is corrected 
as follows:
    On page 34887, column 3, in the preamble, under the paragraph 
heading ``Special Analyses:'', the paragraph is replaced in its 
entirety, and is corrected to read ``It has been determined that this 
notice of proposed rulemaking is not a significant regulatory action as 
defined in Executive Order 12866. Therefore, a regulatory assessment is 
not required. It also has been determined that section 553(b) of the 
Administrative Procedure Act (5 U.S.C. chapter 5) does not apply to the 
regulations, and because the regulations do not impose a collection of 
information on small entities, the requirements of the Regulatory 
Flexibility Act (5 U.S.C. chapter 6) do not apply. Accordingly, a 
regulatory flexibility analysis is not required. Pursuant to section 
7805(f) of the Code, the regulations have been submitted to the Chief 
Counsel for Advocacy of the Small Business Administration for comment 
on their impact on small business.''

LaNita Van Dyke,
Chief, Publications and Regulations Branch, Legal Processing Division, 
Associate Chief Counsel (Procedure and Administration).
[FR Doc. 2012-16236 Filed 7-2-12; 8:45 am]
BILLING CODE 4830-01-P