July CMFR - 8.0%

July CMFR - 8.0%

News story posted in Revenue Rulings on 20 June 2000| comments
audience: National Publication | last updated: 18 May 2011
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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 2000-32 indicates the charitable mid-term federal rate under Code Section 7520 for the month of July is 8.0%.

Rev. Rul. 2000-32

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 2000-32 indicates that the charitable mid-term federal rate under Code Section 7520 for the month of July is 8.0%.

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.)

This revenue ruling provides various prescribed rates for federal income tax purposes for July 2000 (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. 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. Finally, Table 6 contains the blended annual rate for purposes of section 7872.

                      REV. RUL. 2000-32 TABLE 1
             Applicable Federal Rates (AFR) for July 2000
                       PERIOD FOR COMPOUNDING
                  Annual     Semiannual   Quarterly    Monthly
                  ______     __________   _________    _______
Short-Term
__________
        AFR        6.60%        6.49%       6.44%       6.40%
   110% AFR        7.27%        7.14%       7.08%       7.04%
   120% AFR        7.94%        7.79%       7.72%       7.67%
   130% AFR        8.62%        8.44%       8.35%       8.30%
Mid-Term
________
        AFR        6.62%        6.51%       6.46%       6.42%
   110% AFR        7.29%        7.16%       7.10%       7.06%
   120% AFR        7.96%        7.81%       7.74%       7.69%
   130% AFR        8.64%        8.46%       8.37%       8.31%
   150% AFR       10.01%        9.77%       9.65%       9.58%
   175% AFR       11.71%       11.39%      11.23%      11.13%
Long-Term
_________
        AFR        6.40%        6.30%       6.25%       6.22%
   110% AFR        7.05%        6.93%       6.87%       6.83%
   120% AFR        7.70%        7.56%       7.49%       7.44%
   130% AFR        8.36%        8.19%       8.11%       8.05%
                      REV. RUL. 2000-32 TABLE 2
                     Adjusted AFR for July 2000
                       PERIOD FOR COMPOUNDING
                  Annual     Semiannual   Quarterly    Monthly
                  ______     __________   _________    _______
Short-term
adjusted AFR       4.88%        4.82%       4.79%       4.77%
Mid-term
adjusted AFR       5.12%        5.06%       5.03%       5.01%
Long-term
adjusted AFR       5.79%        5.71%       5.67%       5.64%
                      REV. RUL. 2000-32 TABLE 3
                Rates Under Section 382 for July 2000
Adjusted federal long-term rate for the current month         5.79%
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.)                                            5.79%
                      REV. RUL. 2000-32 TABLE 4
           Appropriate Percentages Under Section 42(b)(2)
                            for July 2000
Appropriate percentage for the 70% present
value low-income housing credit                               8.53%
Appropriate percentage for the 30% present
value low-income housing credit                               3.66%
                      REV. RUL. 2000-32 TABLE 5
                Rate Under Section 7520 for July 2000
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             8.0%
                      REV. RUL. 2000-32 TABLE 6
                    Blended Annual Rate for 2000
Section 7872(e)(2) blended annual rate for 2000               6.24%


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