Rev. Rul. 2023-9

This revenue ruling provides various prescribed rates for federal income

tax purposes for May 2023 (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 appropri

ate 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. 2023-9 TABLE 1 Applicable Federal Rates (AFR) for May 2023

Period for Compounding Annual Semiannual Quarterly Monthly Short-term AFR 4.30% 4.25% 4.23% 4.21% 110% AFR 4.73% 4.68% 4.65% 4.64% 120% AFR 5.17% 5.10% 5.07% 5.05% 130% AFR 5.61% 5.53% 5.49% 5.47% Mid-term AFR 3.57% 3.54% 3.52% 3.51% 110% AFR 3.93% 3.89% 3.87% 3.86% 120% AFR 4.30% 4.25% 4.23% 4.21% 130% AFR 4.65% 4.60% 4.57% 4.56% 150% AFR 5.38% 5.31% 5.28% 5.25% 175% AFR 6.30% 6.20% 6.15% 6.12% Long-term AFR 3.72% 3.69% 3.67% 3.66% 110% AFR 4.10% 4.06% 4.04% 4.03% 120% AFR 4.48% 4.43% 4.41% 4.39% 130% AFR 4.86% 4.80% 4.77% 4.75%

REV. RUL. 2023-9 TABLE 2

Adjusted AFR for May 2023

Period for Compounding Annual Semiannual Quarterly Monthly Short-term adjusted AFR 3.26% 3.23% 3.22% 3.21% Mid-term adjusted AFR 2.71% 2.69% 2.68% 2.68% Long-term adjusted AFR 2.82% 2.80% 2.79% 2.78%

Bulletin No. 2023–19 835 May 8, 2023

REV. RUL. 2023-9 TABLE 3 Rates Under Section 382 for May 2023 Adjusted federal long-term rate for the current month 2.82% Long-term tax-exempt rate for ownership changes during the current month (the highest of the adjusted federal 3.04% long-term rates for the current month and the prior two months.)

REV. RUL. 2023-9 TABLE 4 Appropriate Percentages Under Section 42(b)(1) for May 2023 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 7.84% Appropriate percentage for the 30% present value low-income housing credit 3.36%

REV. RUL. 2023-9 TABLE 5 Rate Under Section 7520 for May 2023 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

4.40%

Section 42.—Low-Income Housing Credit

The applicable federal short-term, mid-term, and long-term rates are set forth for the month of May 2023. See Rev. Rul. 2023-9, page 835.

Section 280G.—Golden Parachute Payments

The applicable federal short-term, mid-term, and long-term rates are set forth for the month of May 2023. See Rev. Rul. 2023-9, page 835.

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 May 2023. See Rev. Rul. 2023-9, page 835.

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 May 2023. See Rev. Rul. 2023-9, page 835.

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 May 2023. See Rev. Rul. 2023-9, page 835.

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 May 2023. See Rev. Rul. 2023-9, page 835.

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 May 2023. See Rev. Rul. 2023-9, page 835.

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 May 2023. See Rev. Rul. 2023-9, page 835.

Section 7520.—Valuation Tables

The applicable federal mid-term rates are set forth for the month of May 2023. See Rev. Rul. 2023-9, page 835.

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 May 2023. See Rev. Rul. 2023-9, page 835.

May 8, 2023 836 Bulletin No. 2023–19