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August 2005
Applicable Federal Rates

Rev. Rul. 2005-54

Applicable Federal Rates for August

This revenue ruling provides various prescribed rates for federal income tax purposes for August 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. 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
August 2005
 

Period for Compounding

Short-Term

        

AFR

3.58%

3.55%

3.53%

3.52%

110% AFR

3.95%

3.91%

3.89%

3.88%

120% AFR

4.31%

4.26%

4.24%

4.22%

130% AFR

4.67%

4.62%

4.59%

4.58%
Mid-Term
        

AFR

3.92%

3.88%

3.86%

3.85%

110% AFR

4.32%

4.27%

4.25%

4.23%

120% AFR

4.71%

4.66%

4.63%

4.62%

130% AFR

5.10%

5.04%

5.01%

4.99%

150% AFR

5.90%

5.82%

5.78%

5.75%

175% AFR

6.91%

6.79%

6.73%

6.70%
Long-Term
        

AFR

4.33%

4.28%

4.26%

4.24%

110% AFR

4.77%

4.71%

4.68%

4.66%

120% AFR

5.21%

5.14%

5.11%

5.09%

130% AFR

5.64%

5.56%

5.52%

5.50%
 
Table II

Adjusted AFR for August 2005
 

Period for Compounding
 

Annual

Semi-annual

Quarterly

Monthly

Short-term adjusted AFR

2.71%

2.69%

2.68%

2.68%

Mid-term adjusted AFR

3.11%

3.09%

3.08%

3.07%

Long-term adjusted AFR

4.12%

4.08%

4.06%

4.05%
 
Table III

Rates Under Section 382 for August 2005

Adjusted federal long-term rate for the current month

4.12%

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.)

4.20%
 
Table IV

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

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

7.96%

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

 3.41%
 
Table V

Rate Under Section 7520 for August 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

4.8%

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