Internal Revenue Bulletin:  2007-45 

November 5, 2007 

Rev. Rul. 2007-64


Table of Contents

2007 base period T-bill rate. The “base period T-bill rate” for the period ending September 30, 2007, is published as required by section 995(f) of the Code.

Section 995(f)(1) of the Internal Revenue Code provides that a shareholder of a DISC shall pay interest each taxable year in an amount equal to the product of the shareholder’s DISC-related deferred tax liability for the year and the “base period T-bill rate.” Under section 995(f)(4), the base period T-bill rate is the annual rate of interest determined by the Secretary to be equivalent to the average of the 1-year constant maturity Treasury yields, as published by the Board of Governors of the Federal Reserve System, for the 1-year period ending on September 30 of the calendar year ending with (or of the most recent calendar year ending before) the close of the taxable year of the shareholder. The base period T-bill rate for the period ending September 30, 2007 is 4.87 percent.

Pursuant to section 6622 of the Code, interest must be compounded daily. The table below provides factors for compounding the base period T-bill rate daily for any number of days in the shareholder’s taxable year (including a 52-53 week accounting period) for the 2007 base period T-bill rate. To compute the amount of the interest charge for the shareholder’s taxable year, multiply the amount of the shareholder’s DISC-related deferred tax liability (as defined in section 995(f)(2)) for that year by the base period T-bill rate factor corresponding to the number of days in the shareholder’s taxable year for which the interest charge is being computed. Generally, one would use the factor for 365 days. One would use a different factor only if the shareholder’s taxable year for which the interest charge being determined is a short taxable year, if the shareholder uses the 52-53 week taxable year, or if the shareholder’s taxable year is a leap year.

For the base period T-bill rates for the periods ending in prior years, see Rev. Rul. 2006-54, 2006-45 I.R.B. 834, Rev. Rul. 2005-70, 2005-2 C.B. 919, Rev. Rul. 2004-99, 2004-2 C.B. 720, Rev. Rul. 2003-111, 2003-2 C.B. 1009, Rev. Rul. 2002-68, 2002-2 C.B. 808, Rev. Rul. 2001-56, 2001-2 C.B. 500, and Rev. Rul. 2000-52, 2000-2 C.B. 516.

DRAFTING INFORMATION

The principal author of this revenue ruling is David F. Bergkuist of the Office of Associate Chief Counsel (International). For further information regarding this revenue ruling, contact David F. Bergkuist at (202) 622-3850 (not a toll-free call).

2007 ANNUAL RATE, COMPOUNDED DAILY
4.87 PERCENT
DAYS FACTOR
1 .000133425
2 .000266867
3 .000400327
4 .000533805
5 .000667301
   
6 .000800815
7 .000934347
8 .001067896
9 .001201463
10 .001335048
   
11 .001468651
12 .001602271
13 .001735910
14 .001869566
15 .002003240
   
16 .002136932
17 .002270642
18 .002404370
19 .002538115
20 .002671878
   
21 .002805659
22 .002939458
23 .003073275
24 .003207110
25 .003340963
   
26 .003474833
27 .003608721
28 .003742627
29 .003876551
30 .004010493
   
31 .004144453
32 .004278431
33 .004412426
34 .004546440
35 .004680471
   
36 .004814520
37 .004948587
38 .005082672
39 .005216775
40 .005350895
   
41 .005485034
42 .005619191
43 .005753365
44 .005887557
45 .006021767
   
46 .006155996
47 .006290242
48 .006424506
49 .006558787
50 .006693087
   
51 .006827405
52 .006961740
53 .007096094
54 .007230465
55 .007364855
   
56 .007499262
57 .007633687
58 .007768130
59 .007902592
60 .008037071
   
61 .008171568
62 .008306083
63 .008440616
64 .008575166
65 .008709735
   
66 .008844322
67 .008978927
68 .009113549
69 .009248190
70 .009382849
   
71 .009517525
72 .009652220
73 .009786932
74 .009921663
75 .010056411
   
76 .010191177
77 .010325962
78 .010460764
79 .010595585
80 .010730423
   
81 .010865279
82 .011000154
83 .011135046
84 .011269956
85 .011404885
   
86 .011539831
87 .011674795
88 .011809778
89 .011944778
90 .012079797
   
91 .012214833
92 .012349887
93 .012484960
94 .012620050
95 .012755159
   
96 .012890285
97 .013025430
98 .013160592
99 .013295773
100 .013430972
   
101 .013566188
102 .013701423
103 .013836676
104 .013971947
105 .014107236
   
106 .014242542
107 .014377867
108 .014513210
109 .014648571
110 .014783951
   
111 .014919348
112 .015054763
113 .015190196
114 .015325648
115 .015461117
   
116 .015596605
117 .015732110
118 .015867634
119 .016003176
120 .016138736
   
121 .016274314
122 .016409910
123 .016545524
124 .016681156
125 .016816807
   
126 .016952475
127 .017088162
128 .017223866
129 .017359589
130 .017495330
   
131 .017631089
132 .017766866
133 .017902661
134 .018038474
135 .018174306
   
136 .018310155
137 .018446023
138 .018581909
139 .018717813
140 .018853735
   
141 .018989675
142 .019125633
143 .019261610
144 .019397605
145 .019533617
   
146 .019669648
147 .019805697
148 .019941765
149 .020077850
150 .020213953
   
151 .020350075
152 .020486215
153 .020622373
154 .020758549
155 .020894744
   
156 .021030956
157 .021167187
158 .021303436
159 .021439703
160 .021575988
   
161 .021712291
162 .021848613
163 .021984953
164 .022121311
165 .022257687
   
166 .022394081
167 .022530494
168 .022666925
169 .022803374
170 .022939841
   
171 .023076326
172 .023212830
173 .023349352
174 .023485892
175 .023622450
   
176 .023759027
177 .023895621
178 .024032234
179 .024168865
180 .024305515
   
181 .024442182
182 .024578868
183 .024715572
184 .024852295
185 .024989035
   
186 .025125794
187 .025262571
188 .025399366
189 .025536180
190 .025673012
   
191 .025809862
192 .025946730
193 .026083617
194 .026220522
195 .026357445
   
196 .026494386
197 .026631346
198 .026768324
199 .026905320
200 .027042334
   
201 .027179367
202 .027316418
203 .027453487
204 .027590575
205 .027727681
   
206 .027864805
207 .028001948
208 .028139109
209 .028276288
210 .028413485
   
211 .028550701
212 .028687935
213 .028825187
214 .028962458
215 .029099747
   
216 .029237054
217 .029374380
218 .029511724
219 .029649086
220 .029786466
   
221 .029923865
222 .030061283
223 .030198718
224 .030336172
225 .030473644
   
226 .030611135
227 .030748644
228 .030886171
229 .031023717
230 .031161281
   
231 .031298863
232 .031436464
233 .031574083
234 .031711720
235 .031849376
   
236 .031987050
237 .032124743
238 .032262454
239 .032400183
240 .032537931
   
241 .032675697
242 .032813481
243 .032951284
244 .033089105
245 .033226944
   
246 .033364802
247 .033502679
248 .033640573
249 .033778487
250 .033916418
   
251 .034054368
252 .034192336
253 .034330323
254 .034468328
255 .034606352
   
256 .034744394
257 .034882454
258 .035020533
259 .035158630
260 .035296746
   
261 .035434880
262 .035573033
263 .035711204
264 .035849393
265 .035987601
   
266 .036125827
267 .036264072
268 .036402335
269 .036540617
270 .036678917
   
271 .036817235
272 .036955572
273 .037093928
274 .037232302
275 .037370694
   
276 .037509105
277 .037647534
278 .037785982
279 .037924448
280 .038062933
   
281 .038201436
282 .038339958
283 .038478498
284 .038617057
285 .038755634
   
286 .038894229
287 .039032844
288 .039171476
289 .039310127
290 .039448797
   
291 .039587485
292 .039726192
293 .039864917
294 .040003660
295 .040142422
   
296 .040281203
297 .040420002
298 .040558820
299 .040697656
300 .040836511
   
301 .040975384
302 .041114276
303 .041253186
304 .041392115
305 .041531062
   
306 .041670028
307 .041809013
308 .041948016
309 .042087037
310 .042226077
   
311 .042365136
312 .042504213
313 .042643309
314 .042782423
315 .042921556
   
316 .043060708
317 .043199878
318 .043339066
319 .043478274
320 .043617499
   
321 .043756744
322 .043896006
323 .044035288
324 .044174588
325 .044313907
   
326 .044453244
327 .044592600
328 .044731974
329 .044871367
330 .045010779
   
331 .045150209
332 .045289658
333 .045429125
334 .045568611
335 .045708116
   
336 .045847639
337 .045987181
338 .046126741
339 .046266320
340 .046405918
   
341 .046545535
342 .046685170
343 .046824823
344 .046964495
345 .047104186
   
346 .047243896
347 .047383624
348 .047523371
349 .047663136
350 .047802920
   
351 .047942723
352 .048082544
353 .048222384
354 .048362243
355 .048502121
   
356 .048642017
357 .048781931
358 .048921865
359 .049061817
360 .049201787
   
361 .049341777
362 .049481785
363 .049621812
364 .049761857
365 .049901921
   
366 .050042004
367 .050182105
368 .050322226
369 .050462365
370 .050602522
   
371 .050742698

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