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November 2006
Applicable Federal Rates

Rev. Rul. 2006-55

Applicable Federal Rates for November

This revenue ruling provides various prescribed rates for federal income tax purposes for November 2006 (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. 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
November 2006
 

Period for Compounding

Applicable Federal Rate (AFR)

Annual

Semi-annual

Quarterly

Monthly

Short-Term

        

AFR

4.89%

4.83%

4.80%

4.78%

110% AFR

5.38%

5.31%

5.28%

5.25%

120% AFR

5.88%

5.80%

5.76%

5.73%

130% AFR

6.38%

6.28%

6.23%

6.20%
Mid-Term
        

AFR

4.69%

4.64%

4.61%

4.60%

110% AFR

5.17%

5.10%

5.07%

5.05%

120% AFR

5.65%

5.57%

5.53%

5.51%

130% AFR

6.12%

6.03%

5.99%

5.96%

150% AFR

7.08%

6.96%

6.90%

6.86%

175% AFR

8.28%

8.12%

8.04%

7.99%
Long-Term
        

AFR

4.90%

4.84%

4.81%

4.79%

110% AFR

5.39%

5.32%

5.29%

5.26%

120% AFR

5.89%

5.81%

5.77%

5.74%

130% AFR

6.39%

6.29%

6.24%

6.21%
 
Table II
Adjusted AFR for November 2006
 

Period for Compounding
 

Annual

Semi-annual

Quarterly

Monthly

Short-term adjusted AFR

3.40%

3.37%

3.36%

3.35%

Mid-term adjusted AFR

3.57%

3.54%

3.52%

3.51%

Long-term adjusted AFR

4.15%

4.11%

4.09%

4.08%
 
Table III
Rates Under Section 382 for November 2006

Adjusted federal long-term rate for the current month

4.15%

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.)

4.41%
 
Table IV
Appropriate Percentages Under Section 42(b)(2) for November 2006

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

8.12%

Appropriate Percentage for the 30% present value low-income housing credit
3.48%
 
Table V
Rate Under Section 7520 for November 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

5.6%

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