Internal Revenue Bulletins  
Revenue Ruling 2006-55 November 6, 2006

Federal Rates; Adjusted Federal Rates;
Adjusted Federal Long-Term Rate
and the Long-Term Exempt Rate

This revenue ruling provides various prescribed rates for federal income tax purposes for November 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 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. 2006-55 TABLE 1
Applicable Federal Rates (AFR) for November 2006
Period for Compounding
    Annual   Semiannual   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%
REV. RUL. 2006-55 TABLE 2
Adjusted AFR for November 2006
Period for Compounding
    Annual   Semiannual   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%
REV. RUL. 2006-55 TABLE 3
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%
REV. RUL. 2006-55 TABLE 4
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%
REV. RUL. 2006-55 TABLE 5
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%

Internal Revenue Bulletin 2006-45

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