Rev. Rul. 2024-17, 2024-36 I.R.B. 568

This revenue ruling provides various prescribed rates for federal income tax purposes for September 2024 (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)(1) for buildings placed in service during the current month. However, under section 42(b)(2), the applicable percentage for non-federally subsidized new buildings placed in service after July 30, 2008, shall not be less than 9%. 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. 2024-17 TABLE 1 Applicable Federal Rates (AFR) for September 2024 Period for Compounding

Annual

Semiannual

Quarterly

Monthly

Short-term

AFR

4.57%

4.52%

4.49%

4.48%

110% AFR

5.03%

4.97%

4.94%

4.92%

120% AFR

5.49%

5.42%

5.38%

5.36%

130% AFR

5.97%

5.88%

5.84%

5.81%

Mid-term

AFR

4.02%

3.98%

3.96%

3.95%

110% AFR

4.43%

4.38%

4.36%

4.34%

120% AFR

4.84%

4.78%

4.75%

4.73%

130% AFR

5.24%

5.17%

5.14%

5.12%

150% AFR

6.06%

5.97%

5.93%

5.90%

175% AFR

7.09%

6.97%

6.91%

6.87%

Long-term

AFR

4.37%

4.32%

4.30%

4.28%

110% AFR

4.81%

4.75%

4.72%

4.70%

120% AFR

5.25%

5.18%

5.15%

5.12%

130% AFR

5.70%

5.62%

5.58%

5.56%

REV. RUL. 2024-17 TABLE 2 Adjusted AFR for September 2024 Period for Compounding

Annual

Semiannual

Quarterly

Monthly

Short-term adjusted AFR

3.46%

3.43%

3.42%

3.41%

Mid-term adjusted AFR

3.04%

3.02%

3.01%

3.00%

Long-term adjusted AFR

3.31%

3.28%

3.27%

3.26%

REV. RUL. 2024-17 TABLE 3 Rates Under Section 382 for September 2024

Adjusted federal long-term rate for the current month

3.31%

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.)

3.49%

REV. RUL. 2024-17 TABLE 4 Appropriate Percentages Under Section 42(b)(1) for September 2024

Note: Under section 42(b)(2), the applicable percentage for non-federally subsidized new buildings placed in service after July 30, 2008, shall not be less than 9%.

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

7.97%

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

3.42%

REV. RUL. 2024-17 TABLE 5 Rate Under Section 7520 for September 2024

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%

Section 42.—Low-Income Housing Credit

The applicable federal short-term, mid-term, and long-term rates are set forth for the month of September 2024. See Rev. Rul. 2024-17, page 568.

Section 280G.—Golden Parachute Payments

The applicable federal short-term, mid-term, and long-term rates are set forth for the month of September 2024. See Rev. Rul. 2024-17, page 568.

Section 382.—Limitation on Net Operating Loss Carryforwards and Certain Built-In Losses Following Ownership Change

The adjusted applicable federal long-term rate is set forth for the month of September 2024. See Rev. Rul. 2024-17, page 568.

Section 467.—Certain Payments for the Use of Property or Services

The applicable federal short-term, mid-term, and long-term rates are set forth for the month of September 2024. See Rev. Rul. 2024-17, page 568.

Section 468.—Special Rules for Mining and Solid Waste Reclamation and Closing Costs

The applicable federal short-term rates are set forth for the month of September 2024. See Rev. Rul. 2024-17, page 568.

Section 482.—Allocation of Income and Deductions Among Taxpayers

The applicable federal short-term, mid-term, and long-term rates are set forth for the month of September 2024. See Rev. Rul. 2024-17, page 568.

Section 483.—Interest on Certain Deferred Payments

The applicable federal short-term, mid-term, and long-term rates are set forth for the month of September 2024. See Rev. Rul. 2024-17, page 568.

Section 1288.—Treatment of Original Issue Discount on Tax-Exempt Obligations

The adjusted applicable federal short-term, mid-term, and long-term rates are set forth for the month of September 2024. See Rev. Rul. 2024-17, page 568.

Section 7520.—Valuation Tables

The applicable federal mid-term rates are set forth for the month of September 2024. See Rev. Rul. 2024-17, page 568.

Section 7872.—Treatment of Loans With Below-Market Interest Rates

The applicable federal short-term, mid-term, and long-term rates are set forth for the month of September 2024. See Rev. Rul. 2024-17, page 568.