This revenue ruling provides various prescribed rates for federal income tax purposes for March 2004 (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 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. 2004-25 TABLE 1
Applicable Federal Rates (AFR) for March 2004
Period for Compounding
Annual
Semiannual
Quarterly
Monthly
Short-Term
AFR
1.58%
1.57%
1.57%
1.56%
110% AFR
1.74%
1.73%
1.73%
1.72%
120% AFR
1.89%
1.88%
1.88%
1.87%
130% AFR
2.05%
2.04%
2.03%
2.03%
Mid-Term
AFR
3.34%
3.31%
3.30%
3.29%
110% AFR
3.67%
3.64%
3.62%
3.61%
120% AFR
4.01%
3.97%
3.95%
3.94%
130% AFR
4.35%
4.30%
4.28%
4.26%
150% AFR
5.03%
4.97%
4.94%
4.92%
175% AFR
5.87%
5.79%
5.75%
5.72%
Long-Term
AFR
4.84%
4.78%
4.75%
4.73%
110% AFR
5.33%
5.26%
5.23%
5.20%
120% AFR
5.82%
5.74%
5.70%
5.67%
130% AFR
6.31%
6.21%
6.16%
6.13%
REV. RUL. 2004-25 TABLE 2
Rates Under Section 382 for March 2004
Period for Compounding
Annual
Semiannual
Quarterly
Monthly
Short-term adjusted AFR
1.30%
1.30%
1.30%
1.30%
Mid-term adjusted AFR
2.47%
2.45%
2.44%
2.44%
Long-term adjusted AFR
4.19%
4.15%
4.13%
4.11%
REV. RUL. 2004-25 TABLE 3
Rates Under Section 382 for March 2004
Adjusted federal long-term rate for the current month
4.19%
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.)
4.40%
REV. RUL. 2004-25 TABLE 4
Appropriate Percentages Under Section 42(b)(2) for March 2004
Appropriate percentage for the 70% present value low-income housing credit
7.95%
Appropriate percentage for the 30% present value low-income housing credit
3.41%
REV. RUL. 2004-25 TABLE 5
Rate Under Section 7520 for March 2004
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
