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November 2005
Applicable Federal Rates

Rev. Rul. 2005-71

Applicable Federal Rates for November

This revenue ruling provides various prescribed rates for federal income tax purposes for November 2005 (the current month). Table 1 contains the short-term, midterm, 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, midterm, 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 longterm 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
November 2005
 

Period for Compounding

Short-Term

        

AFR

4.04%

4.00%

3.98%

3.97%

110% AFR

4.45%

4.40%

4.38%

4.36%

120% AFR

4.86%

4.80%

4.77%

4.75%

130% AFR

5.27%

5.20%

5.17%

5.14%
Mid-Term
        

AFR

4.23%

4.19%

4.17%

4.15%

110% AFR

4.66%

4.61%

4.58%

4.57%

120% AFR

5.09%

5.03%

5.00%

4.98%

130% AFR

5.52%

5.45%

5.41%

5.39%

150% AFR

6.39%

6.29%

6.24%

6.21%

175% AFR

7.46%

7.33%

7.26%

7.22%
Long-Term
        

AFR

4.57%

4.52%

4.49%

4.48%

110% AFR

5.03%

4.97%

4.94%

4.92%

120% AFR

5.49%

5.42%

5.38%

5.36%

130% AFR

5.97%

5.88%

5.84%

5.81%
 
Table II

Adjusted AFR for November 2005
 

Period for Compounding
 

Annual

Semi-annual

Quarterly

Monthly

Short-term adjusted AFR

2.87%

2.85%

2.84%

2.83%

Mid-term adjusted AFR

3.32%

3.29%

3.28%

3.27%

Long-term adjusted AFR

4.22%

4.18%

4.16%

4.14%
 
Table III

Rates Under Section 382 for November 2005

Adjusted federal long-term rate for the current month

4.22%

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 November 2005

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

8.02%

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

 3.44%
 
Table V

Rate Under Section 7520 for November 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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