rr-99-8.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. 99-8

This revenue ruling provides various prescribed rates for
federal income tax purposes for February 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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REV. RUL. 99-8 TABLE 1 Applicable Federal Rates (AFR) for February 1999 Period for Compounding

Annual

Semiannual

Quarterly

Monthly

Short-Term

AFR

4.62%

4.57%

4.54%

4.53%

110% AFR

5.09%

5.03%

5.00%

4.98%

120% AFR

5.56%

5.48%

5.44%

5.42%

130% AFR

6.03%

5.94%

5.90%

5.87%

Mid-Term

AFR

4.71%

4.66%

4.63%

4.62%

110% AFR

5.20%

5.13%

5.10%

5.08%

120% AFR

5.67%

5.59%

5.55%

5.53%

130% AFR

6.15%

6.06%

6.01%

5.98%

150% AFR

7.11%

6.99%

6.93%

6.89%

175% AFR

8.33%

8.16%

8.08%

8.02%

Long-Term

AFR

5.24%

5.17%

5.14%

5.12%

110% AFR

5.77%

5.69%

5.65%

5.62%

120% AFR

6.30%

6.20%

6.15%

6.12%

130% AFR

6.83%

6.72%

6.66%

6.63%

REV. RUL. 99-8 TABLE 2 Adjusted AFR for February 1999 Period for Compounding

Annual

Semiannual

Quarterly

Monthly

Short-term adjusted AFR

3.13%

3.11%

3.10%

3.09%

Mid-term adjusted AFR

3.87%

3.83%

3.81%

3.80%

Long-term adjusted AFR

4.71%

4.66%

4.63%

4.62%

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# REV. RUL. 99-8 TABLE 3

Rates Under Section 382 for February 1999
Adjusted federal long-term rate for the current month
4.71%

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. )

4.71%

## REV. RUL. 99-8 TABLE 4 Appropriate Percentages Under Section 42 (b) (2) for February 1999

Appropriate percentage for the 70% present

value low-income housing credit

8.16%

Appropriate percentage for the 30% present

value low-income housing credit

3.50%

## REV. RUL. 99-8 TABLE 5

Rate Under Section 7520 for February 1999

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
5.6%