IRS Revenue Ruling
2000-32

 Code Secs. 1274, 42, 280G, 382, 412, 467 ....

<<FULL TEXT>>

(Also Sections 42, 280G, 382, 412, 467, 468, 482, 483, 642, 807, 846,
1288, 7520, 7872.)

Federal rates; adjusted federal rates; adjusted federal long-term rate,
and the long-term exempt rate. For purposes of sections 1274, 1288, 382,
and other sections of the Code, tables set forth the rates for July 2000.


REV. RUL. 2000-32

This revenue ruling provides various prescribed rates for federal
income tax purposes for July 2000 (die current month.) Table 1 contains
the short-term, mid-term, and longterm 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%


EV. 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%

<<END RULING>
 

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