Rev. Rul. 2024-17 — Internal Revenue Bulletin 2024-36

This revenue ruling provides various prescribed rates for federal income

tax purposes for September 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, midterm, 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 longterm tax-exempt rate described in section 382(f). Table 4 contains the appro

priate 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. 2024-17 TABLE 1 Applicable Federal Rates (AFR) for September 2024

Period for Compounding Annual Semiannual Quarterly Monthly Short-term AFR 4.57% 4.52% 4.49% 4.48% 110% AFR 5.03% 4.97% 4.94% 4.92% 120% AFR 5.49% 5.42% 5.38% 5.36% 130% AFR 5.97% 5.88% 5.84% 5.81% Mid-term AFR 4.02% 3.98% 3.96% 3.95% 110% AFR 4.43% 4.38% 4.36% 4.34% 120% AFR 4.84% 4.78% 4.75% 4.73% 130% AFR 5.24% 5.17% 5.14% 5.12% 150% AFR 6.06% 5.97% 5.93% 5.90% 175% AFR 7.09% 6.97% 6.91% 6.87% Long-term AFR 4.37% 4.32% 4.30% 4.28% 110% AFR 4.81% 4.75% 4.72% 4.70% 120% AFR 5.25% 5.18% 5.15% 5.12% 130% AFR 5.70% 5.62% 5.58% 5.56%

REV. RUL. 2024-17 TABLE 2 Adjusted AFR for September 2024

Period for Compounding Annual Semiannual Quarterly Monthly Short-term adjusted AFR 3.46% 3.43% 3.42% 3.41% Mid-term adjusted AFR 3.04% 3.02% 3.01% 3.00% Long-term adjusted AFR 3.31% 3.28% 3.27% 3.26%

September 3, 2024 568 Bulletin No. 2024–36

REV. RUL. 2024-17 TABLE 3 Rates Under Section 382 for September 2024 Adjusted federal long-term rate for the current month 3.31% Long-term tax-exempt rate for ownership changes during the current month (the highest of the adjusted federal 3.49% long-term rates for the current month and the prior two months.)

REV. RUL. 2024-17 TABLE 4 Appropriate Percentages Under Section 42(b)(1) for September 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 7.97% Appropriate percentage for the 30% present value low-income housing credit 3.42%

REV. RUL. 2024-17 TABLE 5 Rate Under Section 7520 for September 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

4.8%

Section 42.—Low-Income Housing Credit