Internal Revenue Service
Revenue Ruling
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smRev. Rul. 99-45, 1999-45 I.R.B. 558
Code Secs. 1274, 42, 280G, 382, 412, 467 ....
(Also sections 42, 280G, 382, 412, 467, 468, 482, 483, 642, 807, 846, 1288, 7520, 7872.)
Federal rates; adjusted federal rates; adjusted federal long-term rate, and the long-term exempt rate. For purposes of sections 1274, 1288, 382, and other sections of the Code, tables set forth rates for November 1999.
REV. RUL. 99-45
This revenue ruling provides various prescribed rates for federal income tax purposes for November 1999 (the current month.) Table 1 contains the short-term, midterm, and long-term applicable federal rates (AFR) for the current month for purposes of section 1274(d) of the Internal Revenue Code. Table 2 contains the short-term, mid-term, and long-term adjusted applicable federal rates (adjusted AFR) for the current month for purposes of section 1288(b). Table 3 sets forth the adjusted federal long-term rate and the longterm tax-exempt rate described in section 382(f). Table 4 contains the appropriate percentages for determining the low-income housing credit described in section 42(b)(2) for buildings placed in service during the current month. Finally, Table 5 contains the federal rate for determining the present value of an annuity, an interest for life or for a term of years, or a remainder or a reversionary interest for purposes of section 7520.
REV. RUL. 99-45 TABLE 1
Applicable Federal Rates (AFR) for November 1999
Period for Compounding
-------------------------------------------
Annual Semiannual Quarterly Monthly
------ ---------- --------- -------
Short-Term
AFR 5.57% 5.49% 5.45% 5.43%
110% AFR 6.13% 6.04% 6.00% 5.97%
120% AFR 6.70% 6.59% 6.54% 6.50%
130% AFR 7.27% 7.14% 7.08% 7.04%
Mid-Term
AFR 6.08% 5.99% 5.95% 5.92%
110% AFR 6.70% 6.59% 6.54% 6.50%
120% AFR 7.32% 7.19% 7.13% 7.08%
130% AFR 7.94% 7.79% 7.72% 7.67%
150% AFR 9.19% 8.99% 8.89% 8.83%
175% AFR 10.75% 10.48% 10.35% 10.26%
Long-Term
AFR 6.39% 6.29% 6.24% 6.21%
110% AFR 7.04% 6.92% 6.86% 6.82%
120% AFR 7.69% 7.55% 7.48% 7.43%
130% AFR 8.35% 8.18% 8.10% 8.04%
REV. RUL. 99-45 TABLE 2
Adjusted AFR for November 1999
Period for Compounding
-------------------------------------------
Annual Semiannual Quarterly Monthly
------ ---------- --------- -------
Short-term adjusted AFR 3.91% 3.87% 3.85% 3.84%
Mid-term adjusted AFR 4.59% 4.54% 4.51% 4.50%
Long-term adjusted AFR 5.52% 5.45% 5.41% 5.39%
REV. RUL. 99-45 TABLE 3
Rates Under Section 382 for November 1999
Adjusted federal long-term rate for the current month 5.52
Long-term tax-exempt rate for ownership changes during the current month (the highest of the adjusted federal long-term rates for the current month and the prior two months.) 5.52
REV. RUL. 99-45 TABLE 4
Appropriate Percentages Under Section 42(b)(2) for November 1999
Appropriate percentage for the 70% present value low-income housing credit 8.46
Appropriate percentage for the 30% present value low-income housing credit 3.63
REV. RUL. 99-45 TABLE 5
Rate Under Section 7520 for November 1999
Applicable federal rate for determining the present value of an annuity, an interest for life or a term of years, or a remainder or reversionary interest 7.4%
Rev. Rul., 99-45, 1999-45 I.R.B. 558