The amount of protein phosphatase 1 (PP1) activity in rabbit skeletal muscle associated with membranes (predominantly sarcoplasmic reticulum) is similar to that bound to glycogen-protein particles. Membrane-vesicle-associated (sarcovesicular) PP1 can be solubilised with 0.5% Triton X-100 (but not 0.5M NaCl) and is complexed to a protein that is structurally and functionally very similar or identical to the G subunit which targets PP1 to glycogen-protein particles. This conclusion is based on immunoblotting and immunotitration experiments using two different preparations of G-subunit-specific antibodies, binding of Triton-solubilised sarcovesicular enzyme to glycogen, stimulation of phosphorylase phosphatase activity by glycogen, phosphorylation of the same tryptic peptides by cyclic-AMP-dependent protein kinase (A-kinase) and release of catalytic subunit following phosphorylation by A-kinase. Membrane-association is not mediated via glycogen because sarcovesicular PP1 is (1) not released by digestion with alpha-amylase or at dilutions which fully dissociate the glycogen-bound enzyme, and (2) is solubilised by Triton X-100 (whereas glycogen-associated PP1 is not). These findings demonstrate that sarcovesicular PP1 is highly homologous to, or the same as, glycogen-associated PP1G and raises the possibility that a common targetting subunit may direct PP1 to different subcellular locations.