Rev. Rul. 2017-11
Revenue Ruling
Rev. Rul. 2017–11
Table of Contents
This revenue ruling provides various prescribed rates for federal income tax purposes for May 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. 2017–11 TABLE 1 | ||||
|---|---|---|---|---|
| Applicable Federal Rates (AFR) for May 2017 | ||||
| Period for Compounding | ||||
| Annual | Semiannual | Quarterly | Monthly | |
| Short-term | ||||
| AFR | 1.15% | 1.15% | 1.15% | 1.15% |
| 110% AFR | 1.27% | 1.27% | 1.27% | 1.27% |
| 120% AFR | 1.38% | 1.38% | 1.38% | 1.38% |
| 130% AFR | 1.51% | 1.50% | 1.50% | 1.50% |
| Mid-term | ||||
| AFR | 2.04% | 2.03% | 2.02% | 2.02% |
| 110% AFR | 2.24% | 2.23% | 2.22% | 2.22% |
| 120% AFR | 2.45% | 2.44% | 2.43% | 2.43% |
| 130% AFR | 2.66% | 2.64% | 2.63% | 2.63% |
| 150% AFR | 3.07% | 3.05% | 3.04% | 3.03% |
| 175% AFR | 3.58% | 3.55% | 3.53% | 3.52% |
| Long-term | ||||
| AFR | 2.75% | 2.73% | 2.72% | 2.71% |
| 110% AFR | 3.02% | 3.00% | 2.99% | 2.98% |
| 120% AFR | 3.31% | 3.28% | 3.27% | 3.26% |
| 130% AFR | 3.58% | 3.55% | 3.53% | 3.52% |
| REV. RUL. 2017–11 TABLE 2 | ||||
|---|---|---|---|---|
| Adjusted AFR for May 2017 | ||||
| Period for Compounding | ||||
| Annual | Semiannual | Quarterly | Monthly | |
| Short-term adjusted AFR | .86% | .86% | .86% | .86% |
| Mid-term adjusted AFR | 1.52% | 1.51% | 1.51% | 1.51% |
| Long-term adjusted AFR | 2.04% | 2.03% | 2.02% | 2.02% |
| REV. RUL. 2017–11 TABLE 3 | |
|---|---|
| Rates Under Section 382 for May 2017 | |
| Adjusted federal long-term rate for the current month | 2.04% |
| 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.) | 2.09% |
| REV. RUL. 2017–11 TABLE 4 | |
|---|---|
| Appropriate Percentages Under Section 42(b)(1) for May 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 | 7.55% |
| Appropriate percentage for the 30% present value low-income housing credit | 3.24% |
| REV. RUL. 2017–11 TABLE 5 | |
|---|---|
| Rate Under Section 7520 for May 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% |