CMFR for March 5.8% - New PGDC Rate and Tables Archive

CMFR for March 5.8% - New PGDC Rate and Tables Archive

News story posted in Revenue Rulings on 23 February 1999| comments
audience: National Publication | last updated: 18 May 2011
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Summary

The monthly Charitable Midterm Federal Rate (CMFR) for March is 5.8%.

PGDC SUMMARY:

For purposes of determining the present value of an annuity, an interest for life or a term of years, or a remainder or a reversionary interest, Revenue Ruling 99-11 indicates that the charitable mid-term federal rate under Code Section 7520 for the month of March is 5.8%.

FULL TEXT:

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. 99-11

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

                       REV. RUL. 99-11 TABLE 1 
            Applicable Federal Rates (AFR) for March 1999 
                       Period for Compounding 
                Annual     Semiannual   Quarterly   Monthly
                ______     __________   _________   _______ 
Short-Term 
     AFR        4.67%        4.62%       4.59%       4.58%
110% AFR        5.14%        5.08%       5.05%       5.03%
120% AFR        5.62%        5.54%       5.50%       5.48%
130% AFR        6.10%        6.01%       5.97%       5.94% 
Mid-Term
     AFR        4.83%        4.77%       4.74%       4.72%
110% AFR        5.32%        5.25%       5.22%       5.19%
120% AFR        5.80%        5.72%       5.68%       5.65%
130% AFR        6.30%        6.20%       6.15%       6.12%
150% AFR        7.29%        7.16%       7.10%       7.06%
175% AFR        8.52%        8.35%       8.26%       8.21% 
Long-Term 
     AFR        5.30%        5.23%       5.20%       5.17%
110% AFR        5.83%        5.75%       5.71%       5.68%
120% AFR        6.38%        6.28%       6.23%       6.20%
130% AFR        6.92%        6.80%       6.74%       6.71% 
                       REV. RUL. 99-11 TABLE 2 
                     Adjusted AFR for March 1999 
                       Period for Compounding 
               Annual   Semiannual   Quarterly   Monthly
               ______   __________   _________   _______ 
Short-term
adjusted AFR    3.09%    3.07%        3.06%        3.05% 
Mid-term
adjusted AFR    3.77%    3.74%        3.72%        3.71% 
Long-term
adjusted AFR    4.68%    4.63%        4.60%        4.59% 
                       REV. RUL. 99-11 TABLE 3 
Rates Under Section 382 for March 1999 Adjusted federal 
long-term rate for the current month: 4.68% 
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. 99-11 TABLE 4 
           Appropriate Percentages Under Section 42(b)(2)
                           for March 1999 
     Appropriate percentage for the 70% present
     value low-income housing credit                      8.18% 
     Appropriate percentage for the 30% present
     value low-income housing credit                      3.51% 
                       REV. RUL. 99-11 TABLE 5 
               Rate Under Section 7520 for March 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    5.8%


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