Regulations Enabling Elections for Certain Transactions Under Section 336(e); Correction

---
identifier: "/us/fr/E8-22822"
source: "fr"
legal_status: "authoritative_unofficial"
title: "Regulations Enabling Elections for Certain Transactions Under Section 336(e); Correction"
title_number: 0
title_name: "Federal Register"
section_number: "E8-22822"
section_name: "Regulations Enabling Elections for Certain Transactions Under Section 336(e); Correction"
positive_law: false
currency: "2008-09-29"
last_updated: "2008-09-29"
format_version: "1.1.0"
generator: "[email protected]"
agency: "Treasury Department"
document_number: "E8-22822"
document_type: "proposed_rule"
publication_date: "2008-09-29"
agencies:
  - "Treasury Department"
  - "Internal Revenue Service"
cfr_references:
  - "26 CFR Part 1"
rin: "1545-BD84"
fr_citation: "73 FR 56535"
fr_volume: 73
docket_ids:
  - "REG-143544-04"
fr_action: "Correction to notice of proposed rulemaking."
---


#  [Corrected]

**AGENCY:**

Internal Revenue Service (IRS), Treasury.

**ACTION:**

Correction to notice of proposed rulemaking.

**SUMMARY:**

This document contains corrections to a notice of proposed rulemaking (REG-143544-04) that was published in the *Federal Register* on Monday, August 25, 2008 (73 FR 49965) under section 336(e) of the Internal Revenue Code. The proposed regulations, when finalized, would permit taxpayers to make an election to treat certain sales, exchanges, and distributions of another corporation's stock as taxable sales of that corporation's assets. These proposed regulations will affect corporations and their shareholders.

**FOR FURTHER INFORMATION CONTACT:**

Mark J. Weiss, (202) 622-7750 (not a toll-free number).

**SUPPLEMENTARY INFORMATION:**

**Background**

The correction notice that is the subject of this document is under sections 336 and 338 of the Internal Revenue Code.

**Need for Correction**

As published, the notice of proposed rulemaking (REG-143544-04) contains errors that may prove to be misleading and are in need of clarification.

**Correction of Publication**

Accordingly, the publication of the notice of proposed rulemaking (REG-143544-04), which was the subject of FR Doc. E8-19603, is corrected as follows:

1. On page 49967, column 2, in the preamble, under the paragraph heading “2. Requirements for a Section 336(e) Election”, line 2 from the bottom of the column, the language “1(b)(4)(iii), 1.336-1(b)(11), and 1.338-” is corrected to read “1(b)(4)(iii) and 1.336-1(b)(11), and § 1.338-”.

§ 1.336-2

2. On page 49973, column 3, § 1.336-2(b)(1)(i)(B)( *3* ) *Example 2.* (i), line 5, the language “class of Target Subsidiary common stock” is corrected to read “class of Target Subsidiary stock”.

3. On page 49975, column 2, § 1.336-2(b)(2)(v), line 10, the language “unrelated person and the subsidiary's” is corrected to read “unrelated person and the new subsidiary's”.

LaNita Van Dyke,

Chief, Publications and Regulations Branch, Legal Processing Division, Associate Chief Counsel (Procedure and Administration).