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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%