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September 2005
Applicable Federal Rates

Rev. Rul. 2005-57

Applicable Federal Rates for September

This revenue ruling provides various prescribed rates for federal income tax purposes for September 2005 (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 shortterm, 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.

Table I

Applicable Federal Rate (AFR)

Annual

Semi-annual

Quarterly

Monthly
September 2005
 

Period for Compounding

Short-Term

        

AFR

3.90%

3.86%

3.84%

3.83%

110% AFR

4.30%

4.25%

4.23%

4.21%

120% AFR

4.68%

4.63%

4.60%

4.59%

130% AFR

5.08%

5.02%

4.99%

4.97%
Mid-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%

150% AFR

6.33%

6.23%

6.18%

6.15%

175% AFR

7.39%

7.26%

7.20%

7.15%
Long-Term
        

AFR

4.52%

4.47%

4.45%

4.43%

110% AFR

4.98%

4.92%

4.89%

4.87%

120% AFR

5.43%

5.36%

5.32%

5.30%

130% AFR

5.89%

5.81%

5.77%

5.74%
 
Table II

Adjusted AFR for September 2005
 

Period for Compounding
 

Annual

Semi-annual

Quarterly

Monthly

Short-term adjusted AFR

2.79%

2.77%

2.76%

2.75%

Mid-term adjusted AFR

3.31%

3.28%

3.27%

3.26%

Long-term adjusted AFR

4.24%

4.20%

4.18%

4.16%
 
Table III

Rates Under Section 382 for September 2005

Adjusted federal long-term rate for the current month

4.24%

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.)

4.24%
 
Table IV

Appropriate Percentages Under Section 42(b)(2) for September 2005

Appropriate Percentage for the 70% present value low-income housing credit

8.01%

Appropriate Percentage for the 30% present value low-income housing credit

 3.43%
 
Table V

Rate Under Section 7520 for September 2005

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

5.0%

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