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September 2006
Applicable Federal Rates

Rev. Rul. 2006-44

Applicable Federal Rates for September

This revenue ruling provides various prescribed rates for federal income tax purposes for September 2006 (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 shortterm, 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
September 2006
 

Period for Compounding

Applicable Federal Rate (AFR)

Annual

Semi-annual

Quarterly

Monthly

Short-Term

        

AFR

5.13%

5.07%

5.04%

5.02%

110% AFR

5.66%

5.58%

5.54%

5.52%

120% AFR

6.17%

6.08%

6.03%

6.00%

130% AFR

6.70%

6.59%

6.54%

6.50%
Mid-Term
        

AFR

5.01%

4.95%

4.92%

4.90%

110% AFR

5.52%

5.45%

5.41%

5.39%

120% AFR

6.03%

5.94%

5.90%

5.87%

130% AFR

6.54%

6.44%

6.39%

6.36%

150% AFR

7.57%

7.43%

7.36%

7.32%

175% AFR

8.85%

8.66%

8.57%

8.51%
Long-Term
        

AFR

5.21%

5.14%

5.11%

5.09%

110% AFR

5.73%

5.65%

5.61%

5.58%

120% AFR

6.27%

6.17%

6.12%

6.09%

130% AFR

6.79%

6.68%

6.63%

6.59%
 
Table II
Adjusted AFR for September 2006
 

Period for Compounding
 

Annual

Semi-annual

Quarterly

Monthly

Short-term adjusted AFR

3.65%

3.62%

3.60%

3.59%

Mid-term adjusted AFR

3.83%

3.79%

3.77%

3.76%

Long-term adjusted AFR

4.41%

4.36%

4.34%

4.32%
 
Table III
Rates Under Section 382 for September 2006

Adjusted federal long-term rate for the current month

4.41%

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.)

4.52%
 
Table IV
Appropriate Percentages Under Section 42(b)(2) for September 2006

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

8.19%

Appropriate Percentage for the 30% present value low-income housing credit
3.51%
 
Table V
Rate Under Section 7520 for September 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

6.0%

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