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Rev. Rul. 2011-11


Table of Contents

This revenue ruling provides various prescribed rates for federal income tax purposes for May 2011 (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, and before December 31, 2013, 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. 2011-11 TABLE 1
Applicable Federal Rates (AFR) for May 2011
Period for Compounding
Annual Semiannual Quarterly Monthly
Short-term
AFR .56% .56% .56% .56%
110% AFR .62% .62% .62% .62%
120% AFR .67% .67% .67% .67%
130% AFR .73% .73% .73% .73%
Mid-term
AFR 2.44% 2.43% 2.42% 2.42%
110% AFR 2.69% 2.67% 2.66% 2.66%
120% AFR 2.94% 2.92% 2.91% 2.90%
130% AFR 3.18% 3.16% 3.15% 3.14%
150% AFR 3.68% 3.65% 3.63% 3.62%
175% AFR 4.30% 4.25% 4.23% 4.21%
Long-term
AFR 4.19% 4.15% 4.13% 4.11%
110% AFR 4.62% 4.57% 4.54% 4.53%
120% AFR 5.04% 4.98% 4.95% 4.93%
130% AFR 5.47% 5.40% 5.36% 5.34%
REV. RUL. 2011-11 TABLE 2
Adjusted AFR for May 2011
Period for Compounding
Annual Semiannual Quarterly Monthly
Short-term adjusted AFR .73% .73% .73% .73%
Mid-term adjusted AFR 1.98% 1.97% 1.97% 1.96%
Long-term adjusted AFR 4.30% 4.25% 4.23% 4.21%
REV. RUL. 2011-11 TABLE 3
Rates Under Section 382 for May 2011
Adjusted federal long-term rate for the current month 4.30%
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.) 4.55%
REV. RUL. 2011-11 TABLE 4
Appropriate Percentages Under Section 42(b)(1) for May 2011
Note: Under Section 42(b)(2), the applicable percentage for non-federally subsidized new buildings placed in service after July 30, 2008, and before December 31, 2013, shall not be less than 9%.
Appropriate percentage for the 70% present value low-income housing credit 7.77%
Appropriate percentage for the 30% present value low-income housing credit 3.33%
REV. RUL. 2011-11 TABLE 5
Rate Under Section 7520 for May 2011
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 3.0%