Rev. Rul. 2017-14 - Rev. Rul. 2017–14
Rev. Rul. 2017–14
This revenue ruling provides various prescribed rates for federal income tax purposes for July 2017 (the current month). Table 1 contains the short-term, mid-term, 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 long-term 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)(1) for buildings placed in service during the current month. However, under section 42(b)(2), the applicable percentage for non-federally subsidized new buildings placed in service after July 30, 2008, shall not be less than 9%. 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. Finally, Table 6 contains the blended annual rate for 2017 for purposes of section 7872.
| REV. RUL. 2017–14 TABLE 1 | ||||
|---|---|---|---|---|
| Applicable Federal Rates (AFR) for July 2017 | ||||
| --- | --- | --- | --- | --- |
| Period for Compounding | ||||
| --- | --- | --- | --- | --- |
| Annual | Semiannual | Quarterly | Monthly | |
| Short-term | ||||
| AFR | 1.22% | 1.22% | 1.22% | 1.22% |
| 110% AFR | 1.34% | 1.34% | 1.34% | 1.34% |
| 120% AFR | 1.47% | 1.46% | 1.46% | 1.46% |
| 130% AFR | 1.60% | 1.59% | 1.59% | 1.58% |
| Mid-term | ||||
| AFR | 1.89% | 1.88% | 1.88% | 1.87% |
| 110% AFR | 2.08% | 2.07% | 2.06% | 2.06% |
| 120% AFR | 2.27% | 2.26% | 2.25% | 2.25% |
| 130% AFR | 2.45% | 2.44% | 2.43% | 2.43% |
| 150% AFR | 2.84% | 2.82% | 2.81% | 2.80% |
| 175% AFR | 3.32% | 3.29% | 3.28% | 3.27% |
| Long-term | ||||
| AFR | 2.60% | 2.58% | 2.57% | 2.57% |
| 110% AFR | 2.86% | 2.84% | 2.83% | 2.82% |
| 120% AFR | 3.12% | 3.10% | 3.09% | 3.08% |
| 130% AFR | 3.38% | 3.35% | 3.34% | 3.33% |
| REV. RUL. 2017–14 TABLE 2 | ||||
|---|---|---|---|---|
| Adjusted AFR for July 2017 | ||||
| --- | --- | --- | --- | --- |
| Period for Compounding | ||||
| --- | --- | --- | --- | --- |
| Annual | Semiannual | Quarterly | Monthly | |
| Short-term adjusted AFR | .91% | .91% | .91% | .91% |
| Mid-term adjusted AFR | 1.40% | 1.40% | 1.40% | 1.40% |
| Long-term adjusted AFR | 1.93% | 1.92% | 1.92% | 1.91% |
| REV. RUL. 2017–14 TABLE 3 | |
|---|---|
| Rates Under Section 382 for July 2017 | |
| --- | --- |
| Adjusted federal long-term rate for the current month | 1.93% |
| 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.) | 2.04% |
| REV. RUL. 2017–14 TABLE 4 | |
|---|---|
| Appropriate Percentages Under Section 42(b)(1) for July 2017 | |
| --- | --- |
| Note: Under section 42(b)(2), the applicable percentage for non-federally subsidized new buildings placed in service after July 30, 2008, shall not be less than 9%. | |
| --- | --- |
| Appropriate percentage for the 70% present value low-income housing credit | 7.52% |
| Appropriate percentage for the 30% present value low-income housing credit | 3.22% |
| REV. RUL. 2017–14 TABLE 5 | |
|---|---|
| Rate Under Section 7520 for July 2017 | |
| --- | --- |
| 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 | 2.2% |
| REV. RUL. 2017–14 TABLE 6 | |
|---|---|
| Blended Annual Rate for 2017 | |
| --- | --- |
| Section 7872(e)(2) blended annual rate for 2017 | 1.09% |