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Rev. Rul. 2017–14


Table of Contents

This revenue ruling provides various prescribed rates for federal income tax purposes for July 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%. 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. Finally, Table 6 contains the blended annual rate for 2017 for purposes of section 7872.

REV. RUL. 2017–14 TABLE 1
Applicable Federal Rates (AFR) for July 2017
Period for Compounding
  Annual Semiannual Quarterly Monthly
Short-term
AFR 1.22% 1.22% 1.22% 1.22%
110% AFR 1.34% 1.34% 1.34% 1.34%
120% AFR 1.47% 1.46% 1.46% 1.46%
130% AFR 1.60% 1.59% 1.59% 1.58%
Mid-term
AFR 1.89% 1.88% 1.88% 1.87%
110% AFR 2.08% 2.07% 2.06% 2.06%
120% AFR 2.27% 2.26% 2.25% 2.25%
130% AFR 2.45% 2.44% 2.43% 2.43%
150% AFR 2.84% 2.82% 2.81% 2.80%
175% AFR 3.32% 3.29% 3.28% 3.27%
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. 2017–14 TABLE 2
Adjusted AFR for July 2017
Period for Compounding
  Annual Semiannual Quarterly Monthly
Short-term adjusted AFR .91% .91% .91% .91%
Mid-term adjusted AFR 1.40% 1.40% 1.40% 1.40%
Long-term adjusted AFR 1.93% 1.92% 1.92% 1.91%
REV. RUL. 2017–14 TABLE 3
Rates Under Section 382 for July 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.) 2.04%
REV. RUL. 2017–14 TABLE 4
Appropriate Percentages Under Section 42(b)(1) for July 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 7.52%
Appropriate percentage for the 30% present value low-income housing credit 3.22%
REV. RUL. 2017–14 TABLE 5
Rate Under Section 7520 for July 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 2.2%
REV. RUL. 2017–14 TABLE 6
Blended Annual Rate for 2017
Section 7872(e)(2) blended annual rate for 2017 1.09%