Procedural Rules To Permit Parties To File and Serve Documents Electronically; Correction, 3104-3105 [2014-00831]
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Federal Register / Vol. 79, No. 12 / Friday, January 17, 2014 / Rules and Regulations
However, the acquisition results in a loss of
control described in § 1.7874–1(c)(2) because
P does not hold, in the aggregate, directly or
indirectly, more than 50% of the shares of FA
stock (by vote or value) of R, FA, or DT after
the acquisition. Accordingly, the FA stock
held by R would be included in the
denominator of the ownership fraction under
§ 1.7874–1(c)(1). Nevertheless, the FA stock
held by R is excluded from the denominator
of the ownership fraction under paragraphs
(b) and (h) of this section. Thus, the
ownership fraction is 49/49.
(iii) Alternative facts. The facts are the
same as in paragraph (i) of this Example 8,
except that, in exchange for 51 shares of FA
stock, R transfers marketable securities
(within the meaning of paragraph (i)(6) of
this section) with a value equal to that of 16
shares of FA stock and qualified property
(within the meaning of paragraph (i)(7) of
this section) with a value equal to that of 35
shares of FA stock. Accordingly, 16 of the 51
shares of FA stock transferred to R constitute
disqualified stock described in paragraph
(c)(1) of this section by reason of paragraph
(c)(1)(i) of this section, and 35 of such shares
do not constitute disqualified stock.
Paragraph (c)(2) of this section does not
reduce the amount of disqualified stock
described in paragraph (c)(1)(i) of this section
because the transfer of FA stock in exchange
for the marketable securities increases the
fair market value of the assets of FA by the
fair market value of the marketable securities
transferred. Therefore, under paragraph (b) of
this section, 16 of the 51 shares of FA stock
transferred to R are not included in the
denominator of the ownership fraction.
Although 16 of the 51 shares of FA stock that
are transferred to R are excluded from the
denominator of the ownership fraction,
under paragraph (h) of this section, all 51 of
R’s shares of FA stock are taken into account
for purposes of determining whether P or R
is a member of the expanded affiliated group
that includes FA. Because P holds 49% of the
shares of FA stock (49/100), it is not a
member of the expanded affiliated group that
includes FA, and its FA stock is included in
both the numerator and the denominator of
the ownership fraction. Because R holds 51%
of the shares of FA stock (51/100), it is a
member of the expanded affiliated group that
includes FA and, before taking into account
§ 1.7874–1(c), its FA stock is excluded from
the numerator and denominator of the
ownership fraction under section
7874(c)(2)(A) and § 1.7874–1(b). However,
the acquisition results in a loss of control
described in § 1.7874–1(c)(2) because P does
not hold, in the aggregate, directly or
indirectly, more than 50% of the shares of FA
stock (by vote or value) of R, FA, or DT after
the acquisition. Accordingly, the 51 shares of
FA stock held by R would be included in the
denominator of the ownership fraction under
§ 1.7874–1(c)(1). Nevertheless, the 16 shares
of FA stock that constitute disqualified stock
are excluded from the denominator of the
ownership fraction under paragraphs (b) and
(h) of this section. In addition, the 35 shares
of FA stock received by R that do not
constitute disqualified stock are included in
the denominator. Thus, the ownership
fraction is 49/84.
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(k) Effective/applicability dates—(1)
General rule. Except to the extent
provided in paragraph (k)(2) of this
section, this section applies to
acquisitions completed on or after
September 17, 2009.
(2) Transitional rules. For acquisitions
completed on or after September 17,
2009, but before January 16, 2014,
except as provided in paragraph (k)(3) of
this section, this section shall be
applied with the following
modifications:
(i) Nonqualified property does not
include property described in paragraph
(i)(7)(iii) of this section.
(ii) A transfer is limited to an issuance
of stock of the foreign acquiring
corporation.
(iii) The determination of whether
stock of the foreign acquiring
corporation is described in paragraph
(c)(1) of this section is made without
regard to paragraphs (c)(1)(ii), (c)(2), and
(e) of this section.
(iv) Paragraphs (d) and (h) of this
section do not apply.
(3) Election. A taxpayer may elect to
apply paragraphs (a) through (j) of this
section to acquisitions completed on or
after September 17, 2009, but before
January 16, 2014, if the taxpayer applies
those paragraphs consistently to all
acquisitions completed before such
date. The election is made by applying
paragraphs (a) through (j) of this section
to all such acquisitions on a timely filed
original return (including extensions) or
an amended return filed no later than
six months after January 16, 2014. A
separate statement or form evidencing
the election need not be filed.
(l) Expiration date. The applicability
of this section expires on January 13,
2017.
■ Par. 4. Section 1.7874–5T is added to
read as follows:
§ 1.7874–5T Effect of certain transfers of
stock related to the acquisition (temporary).
(a) General rule. Stock of a foreign
corporation that is described in section
7874(a)(2)(B)(ii) shall not cease to be so
described as a result of any subsequent
transfer of the stock by the former
shareholder (within the meaning of
§ 1.7874–2(b)(2)) or former partner
(within the meaning of § 1.7874–2(b)(3))
that received such stock, even if the
subsequent transfer is related to the
acquisition described in section
7874(a)(2)(B)(i).
(b) Example. The rule of this section
is illustrated by the following example:
Example. (i) Facts. Individual A wholly
owns DT, a domestic corporation. FA, a
newly formed foreign corporation, acquires
all of the stock of DT from Individual A in
exchange solely for 100 shares of FA stock.
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Pursuant to a binding commitment that was
entered into in connection with FA’s
acquisition of the DT stock, Individual A
sells 25 shares of FA stock to B, an unrelated
person, in exchange for cash. For federal
income tax purposes, the form of the steps of
the transaction is respected.
(ii) Analysis. Under § 1.7874–2(f)(1), the
100 shares of FA stock received by Individual
A are stock of a foreign corporation (FA) that
is held by reason of holding stock in a
domestic corporation (DT). Accordingly,
such stock is described in section
7874(a)(2)(B)(ii). Under paragraph (a) of this
section, all 100 shares of FA stock retain their
status as being described in section
7874(a)(2)(B)(ii), even though Individual A
sells 25 of the 100 shares in connection with
the acquisition described in section
7874(a)(2)(B)(i) pursuant to the binding
commitment. Therefore, all 100 of the shares
of FA stock are included in both the
numerator and denominator of the ownership
fraction (as defined in § 1.7874–4T(i)(9)).
(c) Effective/applicability dates. This
section applies to acquisitions that are
completed on or after January 16, 2014.
(d) Expiration date. The applicability
of this section expires on January 13,
2017.
John Dalrymple,
Deputy Commissioner for Services and
Enforcement.
Approved: December 30, 2013.
Mark J. Mazur,
Assistant Secretary of the Treasury (Tax
Policy).
[FR Doc. 2014–00899 Filed 1–16–14; 8:45 am]
BILLING CODE 4830–01–P
FEDERAL MINE SAFETY AND HEALTH
REVIEW COMMISSION
29 CFR Part 2700
Procedural Rules To Permit Parties To
File and Serve Documents
Electronically; Correction
Federal Mine Safety and Health
Review Commission.
ACTION: Interim rule with request for
comments; correction.
AGENCY:
The Federal Mine Safety and
Health Review Commission is correcting
an interim rule that appeared in the
Federal Register of December 23, 2013
(78 FR 77354). The correction adds a
conforming change indicating that only
original documents need be filed
pursuant to § 2700.75.
DATES: Effective January 22, 2014.
FOR FURTHER INFORMATION CONTACT:
Michael A. McCord, General Counsel,
Office of the General Counsel, Federal
Mine Safety and Health Review
Commission, at (202) 434–9935 or
mmccord@fmshrc.gov.
SUMMARY:
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Federal Register / Vol. 79, No. 12 / Friday, January 17, 2014 / Rules and Regulations
In FR Doc.
2013–29842 appearing on page 77354 in
the Federal Register of Monday,
December 23, 2013, the following
corrections are made:
SUPPLEMENTARY INFORMATION:
§ 2700.75
[Corrected]
1. On page 77359, in the second
column, in § 2700.75 Briefs, correct
instruction 13 and amendments to
§ 2700.75 to read as follows:
■ 13. Section 2700.75 is amended by
revising paragraphs (f) and (g) to read as
follows:
■
§ 2700.75
Briefs.
*
*
*
*
*
(f) Motion for leave to exceed page
limit. A motion requesting leave to
exceed the page limit for a brief shall be
received not less than 3 days prior to the
date the brief is due to be filed, shall
state the total number of pages
proposed, and shall comply with
§ 2700.10. Filing of a motion requesting
an extension of page limit is effective
upon receipt. The motion and any
statement in opposition shall include
proof of service on all parties by a
means of delivery no less expeditious
than that used for filing the motion,
except that if service by electronic
transmission (email) is impossible, the
filing party must serve in person, by
third party commercial carrier, or by
facsimile transmission, resulting in
same-day delivery.
(g) Number of copies. Unless
otherwise ordered or stated in this part,
only the original of a document shall be
filed.
*
*
*
*
*
Dated: January 13, 2014.
Mary Lu Jordan,
Chairman, Federal Mine Safety and Health
Review Commission.
[FR Doc. 2014–00831 Filed 1–16–14; 8:45 am]
BILLING CODE 6735–01–P
DEPARTMENT OF HOMELAND
SECURITY
Coast Guard
33 CFR Part 165
[Docket No. USCG–2012–0880]
pmangrum on DSK3VPTVN1PROD with RULES
RIN 1625–AAOO
Safety Zone; Houma Navigation Canal,
Mile Marker 35.5 to 36.5, and Gulf
Intracoastal Waterway, Mile Marker
59.0 to 60.0, West of Harvey Locks,
Bank to Bank; Houma, Terrebonne
Parish, LA
AGENCY:
Coast Guard, DHS.
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Interim rule and request for
comments.
ACTION:
The Coast Guard is
establishing a safety zone in the Houma
Navigation Canal, from Mile Marker
35.5 to 36.5, and in the Gulf Intracoastal
Waterway (GIWW), from Mile Marker
59.0 to 60.0, West of Harvey Locks, bank
to bank, during the completion of
construction and repair work on the
HWY 661 Swing Bridge, Terrebonne
Parish, LA. Restrictions under this
safety zone will be enforced
intermittently as necessary to protect
persons and property from hazards
associated with the construction and
repair operations on the Highway 661
Swing Bridge.
DATES: This rule is effective without
actual notice January 17, 2014 through
July 1, 2014. For purposes of
enforcement, actual notice will be used
from the date the rule was signed,
December 13, 2013 until January 17,
2014.
Comments and related material must
be received by the Coast Guard on or
before February 18, 2014.
ADDRESSES: Documents mentioned in
this preamble are part of Docket Number
USCG–2012–0880. To view documents
mentioned in this preamble as being
available in the docket, go to https://
www.regulations.gov, type the docket
number in the ‘‘SEARCH’’ box and click
‘‘SEARCH.’’ Click on ‘‘Open Docket
Folder’’ on the line associated with this
rulemaking. You may also visit the
Docket Management Facility in Room
W12–140 on the ground floor of the
Department of Transportation West
Building, 1200 New Jersey Avenue SE.,
Washington, DC 20590, between 9 a.m.
and 5 p.m., Monday through Friday,
except Federal holidays.
You may submit comments, identified
by docket number, using any one of the
following methods:
(1) Federal eRulemaking Portal:
https://www.regulations.gov.
(2) Fax: (202) 493–2251.
(3) Mail or Delivery: Docket
Management Facility (M–30), U.S.
Department of Transportation, West
Building Ground Floor, Room W12–140,
1200 New Jersey Avenue SE.,
Washington, DC 20590–0001. Deliveries
accepted between 9 a.m. and 5 p.m.,
Monday through Friday, except federal
holidays. The telephone number is 202–
366–9329.
See the ‘‘Public Participation and
Request for Comments’’ portion of the
SUPPLEMENTARY INFORMATION section
below for further instructions on
submitting comments. To avoid
duplication, please use only one of
these three methods.
SUMMARY:
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3105
If
you have questions on this rule, call or
email MST1 Isaac Chavalia, U.S. Coast
Guard; telephone (985) 850–6456, email
Isaac.J.Chavalia@uscg.mil. If you have
questions on viewing or submitting
material to the docket, call Cheryl
Collins, Program Manager, Docket
Operations, telephone (202) 366–9826.
SUPPLEMENTARY INFORMATION:
FOR FURTHER INFORMATION CONTACT:
Table of Acronyms
GIWW Gulf Intracoastal Waterway
COTP Captain of the Port
DHS Department of Homeland Security
FR Federal Register
NPRM Notice of Proposed Rulemaking
A. Public Participation and Request for
Comments
We encourage you to participate in
this rulemaking by submitting
comments and related materials. All
comments received will be posted
without change to https://
www.regulations.gov and will include
any personal information you have
provided.
1. Submitting Comments
If you submit a comment, please
include the docket number for this
rulemaking, indicate the specific section
of this document to which each
comment applies, and provide a reason
for each suggestion or recommendation.
You may submit your comments and
material online at https://
www.regulations.gov, or by fax, mail, or
hand delivery, but please use only one
of these means. If you submit a
comment online, it will be considered
received by the Coast Guard when you
successfully transmit the comment. If
you fax, hand deliver, or mail your
comment, it will be considered as
having been received by the Coast
Guard when it is received at the Docket
Management Facility. We recommend
that you include your name and a
mailing address, an email address, or a
telephone number in the body of your
document so that we can contact you if
we have questions regarding your
submission.
To submit your comment online, go to
https://www.regulations.gov, type the
docket number in the ‘‘SEARCH’’ box
and click ‘‘SEARCH.’’ Click on ‘‘Submit
a Comment’’ on the line associated with
this rulemaking
If you submit your comments by mail
or hand delivery, submit them in an
unbound format, no larger than 81⁄2 by
11 inches, suitable for copying and
electronic filing. If you submit
comments by mail and would like to
know that they reached the Facility,
please enclose a stamped, self-addressed
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]]>Agencies
[Federal Register Volume 79, Number 12 (Friday, January 17, 2014)]
[Rules and Regulations]
[Pages 3104-3105]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2014-00831]
=======================================================================
-----------------------------------------------------------------------
FEDERAL MINE SAFETY AND HEALTH REVIEW COMMISSION
29 CFR Part 2700
Procedural Rules To Permit Parties To File and Serve Documents
Electronically; Correction
AGENCY: Federal Mine Safety and Health Review Commission.
ACTION: Interim rule with request for comments; correction.
-----------------------------------------------------------------------
SUMMARY: The Federal Mine Safety and Health Review Commission is
correcting an interim rule that appeared in the Federal Register of
December 23, 2013 (78 FR 77354). The correction adds a conforming
change indicating that only original documents need be filed pursuant
to Sec. 2700.75.
DATES: Effective January 22, 2014.
FOR FURTHER INFORMATION CONTACT: Michael A. McCord, General Counsel,
Office of the General Counsel, Federal Mine Safety and Health Review
Commission, at (202) 434-9935 or mmccord@fmshrc.gov.
[[Page 3105]]
SUPPLEMENTARY INFORMATION: In FR Doc. 2013-29842 appearing on page
77354 in the Federal Register of Monday, December 23, 2013, the
following corrections are made:
Sec. 2700.75 [Corrected]
0
1. On page 77359, in the second column, in Sec. 2700.75 Briefs,
correct instruction 13 and amendments to Sec. 2700.75 to read as
follows:
0
13. Section 2700.75 is amended by revising paragraphs (f) and (g) to
read as follows:
Sec. 2700.75 Briefs.
* * * * *
(f) Motion for leave to exceed page limit. A motion requesting
leave to exceed the page limit for a brief shall be received not less
than 3 days prior to the date the brief is due to be filed, shall state
the total number of pages proposed, and shall comply with Sec.
2700.10. Filing of a motion requesting an extension of page limit is
effective upon receipt. The motion and any statement in opposition
shall include proof of service on all parties by a means of delivery no
less expeditious than that used for filing the motion, except that if
service by electronic transmission (email) is impossible, the filing
party must serve in person, by third party commercial carrier, or by
facsimile transmission, resulting in same-day delivery.
(g) Number of copies. Unless otherwise ordered or stated in this
part, only the original of a document shall be filed.
* * * * *
Dated: January 13, 2014.
Mary Lu Jordan,
Chairman, Federal Mine Safety and Health Review Commission.
[FR Doc. 2014-00831 Filed 1-16-14; 8:45 am]
BILLING CODE 6735-01-P
