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IRS Announces Applicable Federal Rates For October.

SEP. 20, 2000

Rev. Rul. 2000-45; 2000-2 C.B. 337

DATED SEP. 20, 2000
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Citations: Rev. Rul. 2000-45; 2000-2 C.B. 337

Rev. Rul. 2000-45

[1] This revenue ruling provides various prescribed rates for federal income tax purposes for October 2000 (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)(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. 2000-45 TABLE 1

 

            Applicable Federal Rates (AFR) for October 2000

 

 

                        PERIOD FOR COMPOUNDING

 

 

                     Annual     Semiannual   Quarterly   Monthly

 

                     ______     __________   _________   _______

 

    Short-Term

 

    __________

 

          AFR         6.30%        6.20%        6.15%     6.12%

 

     110% AFR         6.94%        6.82%        6.76%     6.73%

 

     120% AFR         7.58%        7.44%        7.37%     7.33%

 

     130% AFR         8.22%        8.06%        7.98%     7.93%

 

 

     Mid-Term

 

     ________

 

          AFR         6.09%        6.00%        5.96%     5.93%

 

     110% AFR         6.71%        6.60%        6.55%     6.51%

 

     120% AFR         7.33%        7.20%        7.14%     7.09%

 

     130% AFR         7.95%        7.80%        7.73%     7.68%

 

     150% AFR         9.20%        9.00%        8.90%     8.84%

 

     175% AFR        10.78%       10.50%       10.37%    10.28%

 

 

    Long-Term

 

    _________

 

          AFR         5.96%        5.87%        5.83%     5.80%

 

     110% AFR         6.56%        6.46%        6.41%     6.37%

 

     120% AFR         7.16%        7.04%        6.98%     6.94%

 

     130% AFR         7.78%        7.63%        7.56%     7.51%

 

 

                       REV. RUL. 2000-45 TABLE 2

 

 

                     Adjusted AFR for October 2000

 

 

                        PERIOD FOR COMPOUNDING

 

 

                     Annual     Semiannual   Quarterly   Monthly

 

                     ______     __________   _________   _______

 

 

     Short-term

 

     adjusted AFR     4.30%        4.25%        4.23%     4.21%

 

 

     Mid-term

 

     adjusted AFR     4.52%        4.47%        4.45%     4.43%

 

 

     Long-term

 

     adjusted AFR     5.33%        5.26%        5.23%     5.20%

 

 

                       REV. RUL. 2000-45 TABLE 3

 

 

               Rates Under Section 382 for October 2000

 

 

     Adjusted federal long-term rate for the current month     5.33%

 

 

     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.)                                        5.53%

 

 

                       REV. RUL. 2000-45 TABLE 4

 

 

            Appropriate Percentages Under Section 42(b)(2)

 

                           for October 2000

 

 

     Appropriate percentage for the 70% present

 

     value low-income housing credit                           8.41%

 

 

     Appropriate percentage for the 30% present

 

     value low-income housing credit                           3.60%

 

 

                       REV. RUL. 2000-45 TABLE 5

 

 

               Rate Under Section 7520 for October 2000

 

 

     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%
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