Rev. Rul. 2024-15 — Federal rates; adjusted federal rates; adjusted federal long-term rate, and the long-term tax exempt rate.

This revenue ruling provides various prescribed rates for federal income tax purposes for August 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. 2024-15 TABLE 1 Applicable Federal Rates (AFR) for August 2024 Period for Compounding

	Annual	Semiannual	Quarterly	Monthly
Short-term
AFR	4.95%	4.89%	4.86%	4.84%
110% AFR	5.45%	5.38%	5.34%	5.32%
120% AFR	5.96%	5.87%	5.83%	5.80%
130% AFR	6.46%	6.36%	6.31%	6.28%
Mid-term
AFR	4.34%	4.29%	4.27%	4.25%
110% AFR	4.78%	4.72%	4.69%	4.67%
120% AFR	5.22%	5.15%	5.12%	5.10%
130% AFR	5.66%	5.58%	5.54%	5.52%
150% AFR	6.54%	6.44%	6.39%	6.36%
175% AFR	7.65%	7.51%	7.44%	7.40%
Long-term
AFR	4.52%	4.47%	4.45%	4.43%
110% AFR	4.98%	4.92%	4.89%	4.87%
120% AFR	5.43%	5.36%	5.32%	5.30%
130% AFR	5.89%	5.81%	5.77%	5.74%

REV. RUL. 2024-15 TABLE 2 Adjusted AFR for August 2024 Period for Compounding

	Annual	Semiannual	Quarterly	Monthly
Short-term adjusted AFR	3.74%	3.71%	3.69%	3.68%
Mid-term adjusted AFR	3.29%	3.26%	3.25%	3.24%
Long-term adjusted AFR	3.42%	3.39%	3.38%	3.37%

REV. RUL. 2024-15 TABLE 3 Rates Under Section 382 for August 2024

Adjusted federal long-term rate for the current month	3.42%
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.)	3.62%

REV. RUL. 2024-15 TABLE 4 Appropriate Percentages Under Section 42(b)(1) for August 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	8.03%
Appropriate percentage for the 30% present value low-income housing credit	3.44%

REV. RUL. 2024-15 TABLE 5 Rate Under Section 7520 for August 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

5.2%