Rev. Rul. 2006-61
Applicable Federal Rates for December
This revenue ruling provides various prescribed rates for federal income tax purposes
for December 2006 (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. 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 contains the 2007
interest rate for sections 846 and 807.
Table I
December 2006
|
|
|
Period for Compounding
|
|
Applicable Federal Rate (AFR)
|
Annual
|
Semi-annual
|
Quarterly
|
Monthly
|
|
Short-Term
|
|
|
|
|
|
AFR
|
4.97%
|
4.91%
|
4.88%
|
4.86%
|
|
110% AFR
|
5.47%
|
5.40%
|
5.36%
|
5.34%
|
|
120% AFR
|
5.98%
|
5.89%
|
5.85%
|
5.82%
|
|
130% AFR
|
6.48%
|
6.38%
|
6.33%
|
6.30%
|
|
Mid-Term
|
|
|
|
|
|
AFR
|
4.73%
|
4.68%
|
4.65%
|
4.64%
|
|
110% AFR
|
5.22%
|
5.15%
|
5.12%
|
5.10%
|
|
120% AFR
|
5.70%
|
5.62%
|
5.58%
|
5.56%
|
|
130% AFR
|
6.17%
|
6.08%
|
6.03%
|
6.00%
|
|
150% AFR
|
7.14%
|
7.02%
|
6.96%
|
6.92%
|
|
175% AFR
|
8.36%
|
8.19%
|
8.11%
|
8.05%
|
|
Long-Term
|
|
|
|
|
|
AFR
|
4.90%
|
4.84%
|
4.81%
|
4.79%
|
|
110% AFR
|
5.39%
|
5.32%
|
5.29%
|
5.26%
|
|
120% AFR
|
5.89%
|
5.81%
|
5.77%
|
5.74%
|
|
130% AFR
|
6.39%
|
6.29%
|
6.24%
|
6.21%
|
Table II
Adjusted AFR for December 2006
|
|
|
Period for Compounding
|
|
|
Annual
|
Semi-annual
|
Quarterly
|
Monthly
|
|
Short-term adjusted AFR
|
3.42%
|
3.39%
|
3.38%
|
3.37%
|
|
Mid-term adjusted AFR
|
3.59%
|
3.56%
|
3.54%
|
3.53%
|
|
Long-term adjusted AFR
|
4.14%
|
4.10%
|
4.08%
|
4.07%
|
Table III
Rates Under Section 382 for December 2006
|
|
Adjusted federal long-term rate for the current month
|
4.14%
|
|
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.)
|
4.22%
|
Table IV
Appropriate Percentages Under Section 42(b)(2) for December 2006
|
|
Appropriate Percentage for the 70% present value low-income housing credit
|
8.12%
|
|
Appropriate Percentage for the 30% present value low-income housing credit
|
3.48%
|
Table V
Rate Under Section 7520 for December 2006
|
|
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
|
5.8%
|
Table VI
|
|
Applicable rate of interest for 2007 for purposes of section 846 and 807
|
3.97%
|
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