Internal Revenue Service
Revenue Ruling
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smRev. Rul. 99-52
1999-50 I.R.B. 652.
1999 BASE PERIOD T-BILL RATE
Published: December 13, 1999
Section 995.--Taxation of DISC Income to Shareholders
1999 base period T-bill rate. The base period T-bill rate, under section 995 of the Code, is 4.80 percent for the period ending
September 30, 1999.Section 995(f)(1) of the Internal Revenue Code provides that a shareholder of a DISC shall pay interest each taxable year in an a amount equal to the product of the shareholder's DISC-related an a deferred tax liability for the year and the "base period T-bill a rate." Under section 995(f)(4), the base period T- bill rate is the annual rate of interest determined by the Secretary to be equivalent to the average investment yield of United States Treasury bills with maturities of 52 weeks which were auctioned during the one-year with period ending on September 30 of the calendar year ending with (or of the most recent calendar year ending before) the close of the taxable year of the shareholder. The base period T-bill rate for the period ending September 30, 1999, is 4.80 percent.
Pursuant to section 6622 of the Code, interest must be compounded daily. The table below provides factors for compounding the base period T-bill rate daily for any number of days in the shareholder's taxable year (including a 52-53 week accounting period) for the 1999 base period T-bill rate. To compute the amount of the interest charge for the shareholder's taxable year, multiply the amount of the shareholder's DISC-related deferred tax liability (as defined in section 995(f)(2)) for that year by the base period T-bill rate factor corresponding to the number of days in the shareholder's taxable year for which the interest charge is being computed. Generally, one would use the factor for 365 days. One would use a different factor only if the shareholder's taxable year for which the interest charge being determined is a short taxable year, if the shareholder uses the 52-53 week taxable year, or if the shareholder's taxable year is a leap year. For the base period T-bill rates for the periods ending in prior years, see: Rev. Rul. 86-132, 1986-2 C.B. 137; Rev. Rul. 87-129, 1987-2 C.B. 196; Rev. Rul. 88-94, 1988-2 C.B. 301; Rev. Rul. 89-116, 1989-2 C.B. 197; Rev. Rul. 90-96, 1990-2 C.B. 188; Rev. Rul. 91-59,, 1991-2 C.B. 347; Rev. Rul. 92-98, 1992-2 C.B. 201; Rev. Rul. 93-77,, 1993-2 C.B. 253; Rev. Rul. 94-68, 1994-2 C.B. 177; Rev. Rul. 95-77,, 1995-2 C.B. 122; Rev. Rul. 96-55, 1996-2 C.B. 57; Rev. Rul. 97-49,,, 1997-2 C.B. 89; and Rev. Rul. 98-54, 1998-56 I.R.B. 5.
DRAFTING INFORMATION
The principal author of this revenue ruling is David Bergkuist of the Office of the Associate Chief Counsel (International). For further information about this revenue ruling, contact Mr. Bergkuist on (202) 622-3850 (not a toll-free call).
1999 ANNUAL RATE COMPOUNDED DAILY
DAYS 4.80 PERCENT FACTOR
1 .000131507
2 .000263031
3 .000394572
4 .000526131
5 .000657707
6 .000789301
7 .000920911
8 .001052539
9 .001184184
10 .001315847
11 .001447527
12 .001579224
13 .001710939
14 .001842670
15 .001974420
16 .002106186
17 .002237970
18 .002369771
19 .002501590
20 .002633425
21 .002765279
22 .002897149
23 .003029037
24 .003160942
25 .003292865
26 .003424805
27 .003556762
28 .003688736
29 .003820728
30 .003952738
31 .004084764
32 .004216808
33 .004348870
34 .004480948
35 .004613045
36 .004745158
37 .004877289
38 .005009437
39 .005141603
40 .005273786
41 .005405986
42 .005538204
43 .005670439
44 .005802692
45 .005934962
46 .006067249
47 .006199554
48 .006331876
49 .006464215
50 .006596572
51 .006728947
52 .006861338
53 .006993748
54 .007126174
55 .007258618
56 .007391080
57 .007523558
58 .007656055
59 .007788568
60 .007921099
61 .008053648
62 .008186214
63 .008318797
64 .008451398
65 .008584016
66 .008716652
67 .008849305
68 .008981976
69 .009114664
70 .009247369
71 .009380092
72 .009512833
73 .009645591
74 .009778366
75 .009911159
76 .010043969
77 .010176797
78 .010309642
79 .010442504
80 .010575384
81 .010708282
82 .010841197
83 .010974130
84 .011107080
85 .011240047
86 .011373032
87 .011506035
88 .011639055
89 .011772092
90 .011905147
91 .012038220
92 .012171309
93 .012304417
94 .012437542
95 .012570684
96 .012703844
97 .012837022
98 .012970217
99 .013103429
100 .013236659
101 .013369907
102 .013503172
103 .013636455
104 .013769755
105 .013903072
106 .014036408
107 .014169760
108 .014303131
109 .014436518
110 .014569924
111 .014703347
112 .014836787
113 .014970245
114 .015103721
115 .015237214
116 .015370724
117 .015504253
118 .015637798
119 .015771362
120 .015904943
121 .016038541
122 .016172157
123 .016305791
124 .016439442
125 .016573111
126 .016706797
127 .016840501
128 .016974222
129 .017107961
130 .017241718
131 .017375492
132 .017509284
133 .017643094
134 .017776921
135 .017910765
136 .018044628
137 .018178507
138 .018312405
139 .018446320
140 .018580253
141 .018714203
142 .018848171
143 .018982156
144 .019116159
145 .019250180
146 .019384219
147 .019518275
148 .019652348
149 .019786439
150 .019920548
151 .020054675
152 .020188819
153 .020322981
154 .020457160
155 .020591357
156 .020725572
157 .020859805
158 .020994055
159 .021128322
160 .021262608
161 .021396911
162 .021531231
163 .021665570
164 .021799926
165 .021934299
166 .022068691
167 .022203100
168 .022337527
169 .022471971
170 .022606433
171 .022740913
172 .022875410
173 .023009925
174 .023144458
175 .023279009
176 .023413577
177 .023548163
178 .023682766
179 .023817388
180 .023952027
181 .024086683
182 .024221358
183 .024356050
184 .024490760
185 .024625487
186 .024760233
187 .024894996
188 .025029776
189 .025164575
190 .025299391
191 .025434225
192 .025569076
193 .025703946
194 .025838833
195 .025973738
196 .026108660
197 .026243601
198 .026378559
199 .026513534
200 .026648528
201 .026783539
202 .026918568
203 .027053615
204 .027188680
205 .027323762
206 .027458862
207 .027593980
208 .027729116
209 .027864269
210 .027999440
211 .028134629
212 .028269836
213 .028405061
214 .028540303
215 .028675563
216 .028810841
217 .028946137
218 .029081450
219 .029216781
220 .029352130
221 .029487497
222 .029622882
223 .029758284
224 .029893705
225 .030029143
226 .030164599
227 .030300072
228 .030435564
229 .030571073
230 .030706600
231 .030842145
232 .030977708
233 .031113289
234 .031248887
235 .031384503
236 .031520138
237 .031655790
238 .031791459
239 .031927147
240 .032062852
241 .032198576
242 .032334317
243 .032470076
244 .032605853
245 .032741648
246 .032877460
247 .033013291
248 .033149139
249 .033285005
250 .033420889
251 .033556791
252 .033692711
253 .033828649
254 .033964604
255 .034100578
256 .034236569
257 .034372578
258 .034508605
259 .034644650
260 .034780713
261 .034916794
262 .035052892
263 .035189009
264 .035325143
265 .035461296
266 .035597466
267 .035733654
268 .035869860
269 .036006084
270 .036142326
271 .036278586
272 .036414864
273 .036551159
274 .036687473
275 .036823804
276 .036960154
277 .037096521
278 .037232906
279 .037369310
280 .037505731
281 .037642170
282 .037778627
283 .037915102
284 .038051595
285 .038188106
286 .038324635
287 .038461182
288 .038597746
289 .038734329
290 .038870930
291 .039007548
292 .039144185
293 .039280840
294 .039417512
295 .039554203
296 .039690911
297 .039827638
298 .039964382
299 .040101144
300 .040237925
301 .040374723
302 .040511540
303 .040648374
304 .040785226
305 .040922097
306 .041058985
307 .041195892
308 .041332816
309 .041469758
310 .041606719
311 .041743697
312 .041880694
313 .042017708
314 .042154741
315 .042291791
316 .042428860
317 .042565946
318 .042703051
319 .042840173
320 .042977314
321 .043114473
322 .043251649
323 .043388844
324 .043526057
325 .043663288
326 .043800536
327 .043937803
328 .044075088
329 .044212391
330 .044349712
331 .044487052
332 .044624409
333 .044761784
334 .044899177
335 .045036589
336 .045174018
337 .045311466
338 .045448931
339 .045586415
340 .045723917
341 .045861437
342 .045998975
343 .046136531
344 .046274105
345 .046411697
346 .046549307
347 .046686936
348 .046824582
349 .046962247
350 .047099930
351 .047237630
352 .047375349
353 .047513086
354 .047650841
355 .047788615
356 .047926406
357 .048064216
358 .048202043
359 .048339889
360 .048477753
361 .048615635
362 .048753535
363 .048891453
364 .049029390
365 .049167344
366 .049305317
367 .049443308
368 .049581317
369 .049719344
370 .049857389
371 .049995453
Rev. Rul. 99-52, 1999-50 I.R.B. 652.