Certifications and Exemptions Under the International Regulations for Preventing Collisions at Sea, 1972, 35585-35587 [E8-14195]
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35585
Federal Register / Vol. 73, No. 122 / Tuesday, June 24, 2008 / Rules and Regulations
ebenthall on PRODPC60 with RULES
such trust. Such excise tax is treated as
imposed by chapter 42 (other than
subchapter E) and is reported and
payable in accordance with the
appropriate forms and instructions.
Such excise tax shall be allocated to
corpus and, therefore, is not deductible
in determining taxable income
distributed to a beneficiary. (See
paragraph (d)(2) of this section.) The
charitable remainder trust income that
is unrelated business taxable income
constitutes income of the trust for
purposes of determining the character of
the distribution made to the beneficiary.
Income of the charitable remainder trust
is allocated among the charitable
remainder trust income categories in
paragraph (d)(1) of this section without
regard to whether any part of that
income constitutes unrelated business
taxable income under section 512.
(2) Examples. The application of the
rules in this paragraph (c) may be
illustrated by the following examples:
Example 1. For 2007, a charitable
remainder annuity trust with a taxable year
beginning on January 1, 2007, has $60,000 of
ordinary income, including $10,000 of gross
income from a partnership that constitutes
unrelated business taxable income to the
trust. The trust has no deductions that are
directly connected with that income. For that
same year, the trust has administration
expenses (deductible in computing taxable
income) of $16,000, resulting in net ordinary
income of $44,000. The amount of unrelated
business taxable income is computed by
taking gross income from an unrelated trade
or business and deducting expenses directly
connected with carrying on the trade or
business, both computed with modifications
under section 512(b). Section 512(b)(12)
provides a specific deduction of $1,000 in
computing the amount of unrelated business
taxable income. Under the facts presented in
this example, there are no other
modifications under section 512(b). The
trust, therefore, has unrelated business
taxable income of $9,000 ($10,000 minus the
$1,000 deduction under section 512(b)(12)).
Undistributed ordinary income from prior
years is $12,000 and undistributed capital
gains from prior years are $50,000. Under the
terms of the trust agreement, the trust is
required to pay an annuity of $100,000 for
year 2007 to the noncharitable beneficiary.
Because the trust has unrelated business
taxable income of $9,000, the excise tax
imposed under section 664(c) is equal to the
amount of such unrelated business taxable
income, $9,000. The character of the
$100,000 distribution to the noncharitable
beneficiary is as follows: $56,000 of ordinary
income ($44,000 from current year plus
$12,000 from prior years), and $44,000 of
capital gains. The $9,000 excise tax is
allocated to corpus, and does not reduce the
amount in any of the categories of income
under paragraph (d)(1) of this section. At the
beginning of year 2008, the amount of
undistributed capital gains is $6,000, and
there is no undistributed ordinary income.
VerDate Aug<31>2005
12:37 Jun 23, 2008
Jkt 214001
Example 2. During 2007, a charitable
remainder annuity trust with a taxable year
beginning on January 1, 2007, sells real estate
generating gain of $40,000. Because the trust
had obtained a loan to finance part of the
purchase price of the asset, some of the
income from the sale is treated as debtfinanced income under section 514 and thus
constitutes unrelated business taxable
income under section 512. The unrelated
debt-financed income computed under
section 514 is $30,000. Assuming the trust
receives no other income in 2007, the trust
will have unrelated business taxable income
under section 512 of $29,000 ($30,000 minus
the $1,000 deduction under section
512(b)(12)). Except for section 512(b)(12), no
other exceptions or modifications under
sections 512–514 apply when calculating
unrelated business taxable income based on
the facts presented in this example. Because
the trust has unrelated business taxable
income of $29,000, the excise tax imposed
under section 664(c) is equal to the amount
of such unrelated business taxable income,
$29,000. The $29,000 excise tax is allocated
to corpus, and does not reduce the amount
in any of the categories of income under
paragraph (d)(1) of this section. Regardless of
how the trust’s income might be treated
under sections 511–514, the entire $40,000 is
capital gain for purposes of section 664 and
is allocated accordingly to and within the
second of the categories of income under
paragraph (d)(1) of this section.
(3) Effective/applicability date. This
paragraph (c) is applicable for taxable
years beginning after December 31,
2006. The rules that apply with respect
to taxable years beginning before
January 1, 2007, are contained in
§ 1.664–1(c) as in effect prior to June 24,
2008. (See 26 CFR part 1, § 1.664–1(c)(1)
revised as of April 1, 2007.)
(d) * * *
(2) * * * All taxes imposed by
chapter 42 of the Code (including
without limitation taxes treated under
section 664(c)(2) as imposed by chapter
42) and, for taxable years beginning
prior to January 1, 2007, all taxes
imposed by subtitle A of the Code for
which the trust is liable because it has
unrelated business taxable income, shall
be allocated to corpus. * * *
*
*
*
*
*
PART 602—OMB CONTROL NUMBERS
UNDER THE PAPERWORK
REDUCTION ACT
I Par. 3. The authority citation for part
602 continues to read as follows:
Authority: 26 U.S.C. 7805.
Par. 4. In § 602.101, paragraph (b) is
amended by adding the following entry
in numerical order to the table as
follows:
I
§ 602.101
OMB Control numbers.
*
*
PO 00000
*
Frm 00007
*
Fmt 4700
*
Sfmt 4700
(b) * * *
CFR part of section where
identified and described
*
*
*
*
1.664–1(c) ...................................
*
*
*
*
Current
OMB control No.
*
1545–2101
*
Linda E. Stiff,
Deputy Commissioner for Services and
Enforcement.
Approved: June 18, 2008.
Eric Solomon,
Assistant Secretary of the Treasury (Tax
Policy).
[FR Doc. 08–1380 Filed 6–19–08; 1:29 pm]
BILLING CODE 4830–01–P
DEPARTMENT OF DEFENSE
Department of the Navy
32 CFR Part 706
Certifications and Exemptions Under
the International Regulations for
Preventing Collisions at Sea, 1972
Department of the Navy, DoD.
Final rule.
AGENCY:
ACTION:
SUMMARY: The Department of the Navy
is amending its certifications and
exemptions under the International
Regulations for Preventing Collisions at
Sea, 1972 (72 COLREGS), to reflect that
the Deputy Assistant Judge Advocate
General (Admiralty and Maritime Law)
has determined that USS STOCKDALE
(DDG 106) is a vessel of the Navy which,
due to its special construction and
purpose, cannot fully comply with
certain provisions of the 72 COLREGS
without interfering with its special
function as a naval ship. The intended
effect of this rule is to warn mariners in
waters where 72 COLREGS apply.
DATES: This rule is effective June 24,
2008 and is applicable beginning 13
June 2008.
FOR FURTHER INFORMATION CONTACT:
Commander M. Robb Hyde, JAGC, U.S.
Navy, Deputy Assistant Judge Advocate
General (Admiralty and Maritime Law),
Office of the Judge Advocate General,
Department of the Navy, 1322 Patterson
Ave., SE., Suite 3000, Washington Navy
Yard, DC 20374–5066, telephone: 202–
685–5040.
SUPPLEMENTARY INFORMATION: Pursuant
to the authority granted in 33 U.S.C.
1605, the Department of the Navy
E:\FR\FM\24JNR1.SGM
24JNR1
35586
Federal Register / Vol. 73, No. 122 / Tuesday, June 24, 2008 / Rules and Regulations
amends 32 CFR part 706. This
amendment provides notice that the
Deputy Assistant Judge Advocate
General (Admiralty and Maritime Law),
under authority delegated by the
Secretary of the Navy, has certified that
USS STOCKDALE (DDG 106) is a vessel
of the Navy which, due to its special
construction and purpose, cannot fully
comply with the following specific
provisions of 72 COLREGS without
interfering with its special function as a
naval ship: Annex I, paragraph 2(f)(i),
pertaining to the placement of the
masthead light or lights above and clear
of all other lights and obstructions;
Annex I, paragraph 2(f)(ii), pertaining to
the vertical placement of task lights;
Annex I, paragraph 3(a), pertaining to
the location of the forward masthead
light in the forward quarter of the ship,
and the horizontal distance between the
forward and after masthead lights; and
Annex I, paragraph 3(c), pertaining to
placement of task lights not less than
two meters from the fore and aft
centerline of the ship in the athwartship
direction. The Deputy Assistant Judge
Advocate General (Admiralty and
Maritime Law) has also certified that the
lights involved are located in closest
possible compliance with the applicable
72 COLREGS requirements.
Moreover, it has been determined, in
accordance with 32 CFR Parts 296 and
701, that publication of this amendment
for public comment prior to adoption is
impracticable, unnecessary, and
contrary to public interest since it is
based on technical findings that the
placement of lights on this vessel in a
manner differently from that prescribed
herein will adversely affect the vessel’s
ability to perform its military functions.
List of Subjects in 32 CFR Part 706
Marine safety, Navigation (water), and
Vessels.
For the reasons set forth in the
preamble, amend part 706 of title 32 of
the Code of Federal Regulations as
follows:
I
PART 706—CERTIFICATIONS AND
EXEMPTIONS UNDER THE
INTERNATIONAL REGULATIONS FOR
PREVENTING COLLISIONS AT SEA,
1972
1. The authority citation for part 706
continues to read:
I
Authority: 33 U.S.C. 1605.
2. Table Four, Paragraph 15 of § 706.2
is amended by adding, in numerical
order, the following entry for USS
STOCKDALE (DDG 106):
I
§ 706.2 Certifications of the Secretary of
the Navy under Executive Order 11964 and
33 U.S.C. 1605.
*
*
Number
*
*
*
USS STOCKDALE .......................................................
*
*
DDG 106 ......................................................................
*
*
3. Table Four, Paragraph 16 of § 706.2
is amended by adding, in numerical
I
*
*
§ 706.2 Certifications of the Secretary of
the Navy under Executive Order 11964 and
33 U.S.C. 1605.
order, the following entry for USS
STOCKDALE (DDG 106):
*
*
Number
*
*
*
USS STOCKDALE .......................................................
*
*
DDG 106 ......................................................................
*
4. Table Five of § 706.2 is amended by
adding, in numerical order, the
I
*
*
*
Obstruction angle relative ship’s
headings (degrees)
Vessel
*
*
*
1.90 meters.
*
*
*
*
Horizontal distance from the fore
and aft centerline of the vessel in
the athwartship direction
Vessel
*
*
*
*
107.08 thru 112.50.
*
*
§ 706.2 Certifications of the Secretary of
the Navy under Executive Order 11964 and
33 U.S.C. 1605.
following entry for USS STOCKDALE
(DDG 106):
*
*
*
*
*
TABLE FIVE
Forward
masthead light not
in forward quarter
of ship. Annex I,
sec. 3(a)
After masthead
light less than 1⁄2
ship’s length aft of
forward masthead
light. Annex I, sec.
3(a)
Percentage horizontal separation
attained
ebenthall on PRODPC60 with RULES
Vessel
No.
Masthead lights
not over all other
lights and obstructions. Annex I,
sec. 2(f)
*
*
USS STOCKDALE .................................
*
DDG 106
*
X
*
X
*
X
*
14.5
*
*
*
*
*
*
VerDate Aug<31>2005
*
12:37 Jun 23, 2008
Jkt 214001
PO 00000
Frm 00008
Fmt 4700
Sfmt 4700
E:\FR\FM\24JNR1.SGM
24JNR1
35587
Federal Register / Vol. 73, No. 122 / Tuesday, June 24, 2008 / Rules and Regulations
Approved: June 13, 2008.
M. Robb Hyde,
Commander, JAGC, U.S. Navy, Deputy
Assistant Judge Advocate General (Admiralty
and Maritime Law).
[FR Doc. E8–14195 Filed 6–23–08; 8:45 am]
BILLING CODE 3810–FF–P
Navy, Deputy Assistant Judge Advocate
General (Admiralty and Maritime Law),
Office of the Judge Advocate General,
Department of the Navy, 1322 Patterson
Ave., SE., Suite 3000, Washington Navy
Yard, DC 20374–5066, telephone: 202–
685–5040.
Pursuant
to the authority granted in 33 U.S.C.
1605, the Department of the Navy
amends 32 CFR part 706. This
amendment provides notice that the
Deputy Assistant Judge Advocate
General (Admiralty and Maritime Law),
under authority delegated by the
Secretary of the Navy, has certified that
USS TRUXTUN (DDG 103) is a vessel of
the Navy which, due to its special
construction and purpose, cannot fully
comply with the following specific
provisions of 72 COLREGS without
interfering with its special function as a
naval ship: Annex I, paragraph 2(f)(i),
pertaining to the placement of the
masthead light or lights above and clear
of all other lights and obstructions;
Annex I, paragraph 2(f)(ii), pertaining to
the vertical placement of task lights;
Annex I, paragraph 3(a), pertaining to
the location of the forward masthead
light in the forward quarter of the ship,
and the horizontal distance between the
forward and after masthead lights; and
Annex I, paragraph 3(c), pertaining to
placement of task lights not less than
two meters from the fore and aft
centerline of the ship in the athwartship
direction. The Deputy Assistant Judge
Advocate General (Admiralty and
Maritime Law) has also certified that the
lights involved are located in closest
SUPPLEMENTARY INFORMATION:
DEPARTMENT OF DEFENSE
Department of the Navy
32 CFR Part 706
Certifications and Exemptions Under
the International Regulations for
Preventing Collisions at Sea, 1972
Department of the Navy, DoD.
Final rule.
AGENCY:
ACTION:
SUMMARY: The Department of the Navy
is amending its certifications and
exemptions under the International
Regulations for Preventing Collisions at
Sea, 1972 (72 COLREGS), to reflect that
the Deputy Assistant Judge Advocate
General (Admiralty and Maritime Law)
has determined that USS TRUXTUN
(DDG 103) is a vessel of the Navy which,
due to its special construction and
purpose, cannot fully comply with
certain provisions of the 72 COLREGS
without interfering with its special
function as a naval ship. The intended
effect of this rule is to warn mariners in
waters where 72 COLREGS apply.
DATES: This rule is effective June 24,
2008 and is applicable beginning 13
June 2008.
FOR FURTHER INFORMATION CONTACT:
Commander M. Robb Hyde, JAGC, U.S.
possible compliance with the applicable
72 COLREGS requirements.
Moreover, it has been determined, in
accordance with 32 CFR parts 296 and
701, that publication of this amendment
for public comment prior to adoption is
impracticable, unnecessary, and
contrary to public interest since it is
based on technical findings that the
placement of lights on this vessel in a
manner differently from that prescribed
herein will adversely affect the vessel’s
ability to perform its military functions.
List of Subjects in 32 CFR Part 706
Marine safety, Navigation (water), and
Vessels.
For the reasons set forth in the
preamble, amend part 706 of title 32 of
the Code of Federal Regulations as
follows:
I
PART 706—CERTIFICATIONS AND
EXEMPTIONS UNDER THE
INTERNATIONAL REGULATIONS FOR
PREVENTING COLLISIONS AT SEA,
1972
1. The authority citation for part 706
continues to read:
I
Authority: 33 U.S.C. 1605.
2. Table Four, Paragraph 15 of § 706.2
is amended by adding, in numerical
order, the following entry for USS
TRUXTUN (DDG 103):
I
§ 706.2 Certifications of the Secretary of
the Navy under Executive Order 11964 and
33 U.S.C. 1605.
*
*
Number
*
*
*
USS TRUXTUN ...........................................................
*
*
DDG 103 ......................................................................
*
*
3. Table Four, Paragraph 16 of § 706.2
is amended by adding, in numerical
I
*
ebenthall on PRODPC60 with RULES
*
1.86 meters.
*
*
§ 706.2 Certifications of the Secretary of
the Navy under Executive Order 11964 and
33 U.S.C. 1605.
order, the following entry for USS
TRUXTUN (DDG 103):
*
*
Number
*
*
*
USS TRUXTUN ...........................................................
*
*
DDG 103 ......................................................................
VerDate Aug<31>2005
12:37 Jun 23, 2008
*
Jkt 214001
PO 00000
*
Frm 00009
Fmt 4700
*
Sfmt 4700
*
*
Obstruction angle relative ship’s
headings
Vessel
*
*
*
*
*
*
*
Horizontal distance from the fore
and aft centerline of the vessel in
the athwartship direction
Vessel
*
*
E:\FR\FM\24JNR1.SGM
*
*
110.02 thru 112.50 [degrees].
*
24JNR1
*
]]>Agencies
[Federal Register Volume 73, Number 122 (Tuesday, June 24, 2008)]
[Rules and Regulations]
[Pages 35585-35587]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E8-14195]
=======================================================================
-----------------------------------------------------------------------
DEPARTMENT OF DEFENSE
Department of the Navy
32 CFR Part 706
Certifications and Exemptions Under the International Regulations
for Preventing Collisions at Sea, 1972
AGENCY: Department of the Navy, DoD.
ACTION: Final rule.
-----------------------------------------------------------------------
SUMMARY: The Department of the Navy is amending its certifications and
exemptions under the International Regulations for Preventing
Collisions at Sea, 1972 (72 COLREGS), to reflect that the Deputy
Assistant Judge Advocate General (Admiralty and Maritime Law) has
determined that USS STOCKDALE (DDG 106) is a vessel of the Navy which,
due to its special construction and purpose, cannot fully comply with
certain provisions of the 72 COLREGS without interfering with its
special function as a naval ship. The intended effect of this rule is
to warn mariners in waters where 72 COLREGS apply.
DATES: This rule is effective June 24, 2008 and is applicable beginning
13 June 2008.
FOR FURTHER INFORMATION CONTACT: Commander M. Robb Hyde, JAGC, U.S.
Navy, Deputy Assistant Judge Advocate General (Admiralty and Maritime
Law), Office of the Judge Advocate General, Department of the Navy,
1322 Patterson Ave., SE., Suite 3000, Washington Navy Yard, DC 20374-
5066, telephone: 202-685-5040.
SUPPLEMENTARY INFORMATION: Pursuant to the authority granted in 33
U.S.C. 1605, the Department of the Navy
[[Page 35586]]
amends 32 CFR part 706. This amendment provides notice that the Deputy
Assistant Judge Advocate General (Admiralty and Maritime Law), under
authority delegated by the Secretary of the Navy, has certified that
USS STOCKDALE (DDG 106) is a vessel of the Navy which, due to its
special construction and purpose, cannot fully comply with the
following specific provisions of 72 COLREGS without interfering with
its special function as a naval ship: Annex I, paragraph 2(f)(i),
pertaining to the placement of the masthead light or lights above and
clear of all other lights and obstructions; Annex I, paragraph
2(f)(ii), pertaining to the vertical placement of task lights; Annex I,
paragraph 3(a), pertaining to the location of the forward masthead
light in the forward quarter of the ship, and the horizontal distance
between the forward and after masthead lights; and Annex I, paragraph
3(c), pertaining to placement of task lights not less than two meters
from the fore and aft centerline of the ship in the athwartship
direction. The Deputy Assistant Judge Advocate General (Admiralty and
Maritime Law) has also certified that the lights involved are located
in closest possible compliance with the applicable 72 COLREGS
requirements.
Moreover, it has been determined, in accordance with 32 CFR Parts
296 and 701, that publication of this amendment for public comment
prior to adoption is impracticable, unnecessary, and contrary to public
interest since it is based on technical findings that the placement of
lights on this vessel in a manner differently from that prescribed
herein will adversely affect the vessel's ability to perform its
military functions.
List of Subjects in 32 CFR Part 706
Marine safety, Navigation (water), and Vessels.
0
For the reasons set forth in the preamble, amend part 706 of title 32
of the Code of Federal Regulations as follows:
PART 706--CERTIFICATIONS AND EXEMPTIONS UNDER THE INTERNATIONAL
REGULATIONS FOR PREVENTING COLLISIONS AT SEA, 1972
0
1. The authority citation for part 706 continues to read:
Authority: 33 U.S.C. 1605.
0
2. Table Four, Paragraph 15 of Sec. 706.2 is amended by adding, in
numerical order, the following entry for USS STOCKDALE (DDG 106):
Sec. 706.2 Certifications of the Secretary of the Navy under
Executive Order 11964 and 33 U.S.C. 1605.
* * * * *
----------------------------------------------------------------------------------------------------------------
Horizontal distance from the fore and aft
Vessel Number centerline of the vessel in the athwartship
direction
----------------------------------------------------------------------------------------------------------------
* * * * * *
USS STOCKDALE........................ DDG 106................ 1.90 meters.
* * * * * *
----------------------------------------------------------------------------------------------------------------
0
3. Table Four, Paragraph 16 of Sec. 706.2 is amended by adding, in
numerical order, the following entry for USS STOCKDALE (DDG 106):
Sec. 706.2 Certifications of the Secretary of the Navy under
Executive Order 11964 and 33 U.S.C. 1605.
* * * * *
----------------------------------------------------------------------------------------------------------------
Obstruction angle relative ship's headings
Vessel Number (degrees)
----------------------------------------------------------------------------------------------------------------
* * * * * *
USS STOCKDALE........................ DDG 106................ 107.08 thru 112.50.
* * * * * * *
----------------------------------------------------------------------------------------------------------------
0
4. Table Five of Sec. 706.2 is amended by adding, in numerical order,
the following entry for USS STOCKDALE (DDG 106):
Sec. 706.2 Certifications of the Secretary of the Navy under
Executive Order 11964 and 33 U.S.C. 1605.
* * * * *
Table Five
--------------------------------------------------------------------------------------------------------------------------------------------------------
After masthead
Masthead lights Forward masthead light less than \1/ Percentage
not over all other light not in 2\ ship's length horizontal
Vessel No. lights and forward quarter of aft of forward separation
obstructions. ship. Annex I, masthead light. attained
Annex I, sec. 2(f) sec. 3(a) Annex I, sec. 3(a)
--------------------------------------------------------------------------------------------------------------------------------------------------------
* * * * * * *
USS STOCKDALE....................................... DDG 106 X X X 14.5
* * * * * * *
--------------------------------------------------------------------------------------------------------------------------------------------------------
[[Page 35587]]
Approved: June 13, 2008.
M. Robb Hyde,
Commander, JAGC, U.S. Navy, Deputy Assistant Judge Advocate General
(Admiralty and Maritime Law).
[FR Doc. E8-14195 Filed 6-23-08; 8:45 am]
BILLING CODE 3810-FF-P
