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February 2005
Applicable Federal Rates

Rev. Rul. 2005-8

Applicable Federal Rates for February

This revenue ruling provides various prescribed rates for federal income tax purposes for February 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 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.

Table I

Applicable Federal Rate (AFR)

Annual

Semi-annual

Quarterly

Monthly
February 2005
 

Period for Compounding

Short-Term

        

AFR

2.92%

2.90%

2.89%

2.88%

110% AFR

3.22%

3.19%

3.18%

3.17%

120% AFR

3.51%

3.48%

3.46%

3.46%

130% AFR

3.81%

3.77%

3.75%

3.74%
Mid-Term
        

AFR

3.83%

3.79%

3.77%

3.76%

110% AFR

4.21%

4.17%

4.15%

4.13%

120% AFR

4.60%

4.55%

4.52%

4.51%

130% AFR

4.99%

4.93%

4.90%

4.88%

150% AFR

5.77%

5.69%

5.65%

5.62%

175% AFR

6.74%

6.63%

6.58%

6.54%
Long-Term
        

AFR

4.72%

4.67%

4.64%

4.63%

110% AFR

5.21%

5.14%

5.11%

5.09%

120% AFR

5.68%

5.60%

5.56%

5.54%

130% AFR

6.16%

6.07%

6.02%

5.99%
 
Table II

Adjusted AFR for February 2005
 

Period for Compounding
 

Annual

Semi-annual

Quarterly

Monthly

Short-term adjusted AFR

2.11%

2.10%

2.09%

2.09%

Mid-term adjusted AFR

2.89%

2.87%

2.86%

2.85%

Long-term adjusted AFR

4.20%

4.16%

4.14%

4.12%
 
Table III

Rates Under Section 382 for February 2005

Adjusted federal long-term rate for the current month

4.20%

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).

4.27%
 
Table IV

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

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

7.99%

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

 3.43%
 
Table V

Rate Under Section 7520 for February 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

4.60%

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