Rev. Rul. 2017-21 - Rev. Rul. 2017–21
Rev. Rul. 2017–21
This revenue ruling provides various prescribed rates for federal income tax purposes for November 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%. 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. 2017–21 TABLE 1 | ||||
|---|---|---|---|---|
| Applicable Federal Rates (AFR) for November 2017 | ||||
| --- | --- | --- | --- | --- |
| Period for Compounding | ||||
| --- | --- | --- | --- | --- |
| Annual | Semiannual | Quarterly | Monthly | |
| Short-term | ||||
| AFR | 1.38% | 1.38% | 1.38% | 1.38% |
| 110% AFR | 1.53% | 1.52% | 1.52% | 1.52% |
| 120% AFR | 1.67% | 1.66% | 1.66% | 1.65% |
| 130% AFR | 1.80% | 1.79% | 1.79% | 1.78% |
| Mid-term | ||||
| AFR | 2.00% | 1.99% | 1.99% | 1.98% |
| 110% AFR | 2.20% | 2.19% | 2.18% | 2.18% |
| 120% AFR | 2.40% | 2.39% | 2.38% | 2.38% |
| 130% AFR | 2.61% | 2.59% | 2.58% | 2.58% |
| 150% AFR | 3.01% | 2.99% | 2.98% | 2.97% |
| 175% AFR | 3.51% | 3.48% | 3.46% | 3.46% |
| 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. 2017–21 TABLE 2 | ||||
|---|---|---|---|---|
| Adjusted AFR for November 2017 | ||||
| --- | --- | --- | --- | --- |
| Period for Compounding | ||||
| --- | --- | --- | --- | --- |
| Annual | Semiannual | Quarterly | Monthly | |
| Short-term adjusted AFR | 1.03% | 1.03% | 1.03% | 1.03% |
| Mid-term adjusted AFR | 1.49% | 1.48% | 1.48% | 1.48% |
| Long-term adjusted AFR | 1.93% | 1.92% | 1.92% | 1.91% |
| REV. RUL. 2017–21 TABLE 3 | |
|---|---|
| Rates Under Section 382 for November 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.) | 1.93% |
| \>REV. RUL. 2017–21 TABLE 4 | |
|---|---|
| Appropriate Percentages Under Section 42(b)(1) for November 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 | 7.53% |
| Appropriate percentage for the 30% present value low-income housing credit | 3.23% |
| REV. RUL. 2017–21 TABLE 5 | |
|---|---|
| Rate Under Section 7520 for November 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 | 2.4% |