rr-99-41.pdf

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# Part I

Section 1274. -- Determination of Issue Price in the Case of
Certain Debt Instruments Issued for Property

(Also Sections 42, 280G, 382, 412, 467, 468, 482, 483, 642, 807,
846, 1288, 7520, 7872.)

## Rev. Rul. 99-41

This revenue ruling provides various prescribed rates for
federal income tax purposes for October 1999 (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) (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.

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Applicable Federal Rates (AFR) for October 1999 Period for Compounding

Annual

Semiannual

Quarterly

Monthly

Short-Term

AFR

5.54%

5.47%

5.43%

5.41%

110% AFR

6.11%

6.02%

5.98%

5.95%

120% AFR

6.67%

6.56%

6.51%

6.47%

130% AFR

7.24%

7.11%

7.05%

7.01%

Mid-Term

AFR

6.02%

5.93%

5.89%

5.86%

110% AFR

6.63%

6.52%

6.47%

6.43%

120% AFR

7.25%

7.12%

7.06%

7.02%

130% AFR

7.86%

7.71%

7.64%

7.59%

150% AFR

9.10%

8.90%

8.80%

8.74%

175% AFR

10.65%

10.38%

10.25%

10.16%

Long-Term

AFR

6.31%

6.21%

6.16%

6.13%

110% AFR

6.95%

6.83%

6.77%

6.73%

120% AFR

7.59%

7.45%

7.38%

7.34%

130% AFR

8.23%

8.07%

7.99%

7.94%

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REV. RUL. 99-41 TABLE 2 Adjusted AFR for October 1999 Period for Compounding

Annual

Semiannual

Quarterly

Monthly

Short-term adjusted AFR

3.79%

3.75%

3.73%

3.72%

Mid-term adjusted AFR

4.55%

4.50%

4.47%

4.46%

Long-term adjusted AFR

5.45%

5.38%

5.34%

5.32%

REV. RUL. 99-41 TABLE 3

Rates Under Section 382 for October 1999
Adjusted federal long-term rate for the current month
5.45%

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. )

5.45%

## REV. RUL. 99-41 TABLE 4

Appropriate Percentages Under Section 42 (b) (2)
for October 1999

Appropriate percentage for the 70% present
value low-income housing credit
8.45%

Appropriate percentage for the 30% present
value low-income housing credit
3.62%

# REV. RUL. 99-41 TABLE 5 Rate Under Section 7520 for October 1999

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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
7.2%