# [Corrected]
**AGENCY:**
Internal Revenue Service (IRS), Treasury.
**ACTION:**
Correcting amendment.
**SUMMARY:**
This document contains a correction to Treasury Decision 9048, which was published in the *Federal Register* on Friday, March 14, 2003 (68 FR 12287) that redetermines the basis of stock of a subsidiary member or a consolidated group immediately prior to certain transfers of such stock and certain deconsolidations of a subsidiary member.
**DATES:**
This correction is effective on March 14, 2003.
**FOR FURTHER INFORMATION CONTACT:**
Aimee K. Meacham at (202) 622-7530 (not a toll-free number).
**SUPPLEMENTARY INFORMATION:**
**Background**
The final regulations that are the subject of this correction are under section 1502 of the Internal Revenue Code.
**Need for Correction**
As published, TD 9048 contains an error which may prove to be misleading and is in need of clarification.
**List of Subjects in 26 CFR Part 1**
Income taxes, Reporting and recordkeeping requirements.
**26 CFR Part 1**
**Correction of Publication**
Accordingly, 26 CFR Part 1 is corrected by making the following correcting amendment:
**26 CFR Part 1**
**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 * * *
§ 1.1502-35T
*Par. 2.* Section 1.1502-35T(b)(2)(ii)(B) is amended by removing the word “or” at the end of the paragraph.
LaNita Van Dyke,
Acting Chief, Regulations Unit, Associate Chief Counsel, (Procedure and Administration).