Internal Revenue Bulletin:  2008-47 

November 24, 2008 

Rev. Rul. 2008-51


Table of Contents

2008 base period T-bill rate. The “base period T-bill rate” for the period ending September 30, 2008, 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, 2008, is 2.48 percent.

Pursuant to section 6222 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 2008 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. 2007-64, 2007-45 I.R.B. 953; Rev. Rul. 2006-54, 2006-2 C.B. 834; Rev. Rul. 2005-70, 2005-2 C.B. 919; Rev. Rul. 2004-99, 2004-2 C.B. 720; Rev. Rul. 2003-2, 2003-1 C.B. 251; 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 Teresa B. Hughes of the Office of Associate Chief Counsel (International). For further information regarding this revenue ruling, contact Teresa B. Hughes at (202) 622-3850 (not a toll-free call).

2008 ANNUAL RATE, COMPOUNDED DAILY
2.480 PERCENT
DAYS FACTOR
1 .000067760
2 .000135524
3 .000203292
4 .000271066
5 .000338844
   
6 .000406626
7 .000474413
8 .000542205
9 .000610001
10 .000677802
   
11 .000745608
12 .000813418
13 .000881233
14 .000949052
15 .001016876
   
16 .001084704
17 .001152537
18 .001220375
19 .001288217
20 .001356064
   
21 .001423915
22 .001491771
23 .001559632
24 .001627497
25 .001695367
   
26 .001763242
27 .001831121
28 .001899004
29 .001966893
30 .002034785
   
31 .002102683
32 .002170585
33 .002238492
34 .002306403
35 .002374319
   
36 .002442239
37 .002510164
38 .002578094
39 .002646028
40 .002713967
   
41 .002781910
42 .002849858
43 .002917811
44 .002985768
45 .003053730
   
46 .003121697
47 .003189668
48 .003257643
49 .003325624
50 .003393609
   
51 .003461598
52 .003529592
53 .003597591
54 .003665594
55 .003733602
   
56 .003801615
57 .003869632
58 .003937654
59 .004005680
60 .004073711
   
61 .004141747
62 .004209787
63 .004277832
64 .004345881
65 .004413935
   
66 .004481994
67 .004550057
68 .004618125
69 .004686197
70 .004754275
   
71 .004822356
72 .004890443
73 .004958534
74 .005026629
75 .005094729
   
76 .005162834
77 .005230943
78 .005299057
79 .005367176
80 .005435299
   
81 .005503427
82 .005571560
83 .005639697
84 .005707838
85 .005775985
   
86 .005844136
87 .005912291
88 .005980451
89 .006048616
90 .006116786
   
91 .006184960
92 .006253138
93 .006321322
94 .006389510
95 .006457702
   
96 .006525899
97 .006594101
98 .006662307
99 .006730518
100 .006798734
   
101 .006866954
102 .006935179
103 .007003408
104 .007071643
105 .007139881
   
106 .007208125
107 .007276373
108 .007344625
109 .007412883
110 .007481144
   
111 .007549411
112 .007617682
113 .007685958
114 .007754238
115 .007822523
   
116 .007890813
117 .007959107
118 .008027406
119 .008095709
120 .008164017
   
121 .008232330
122 .008300648
123 .008368970
124 .008437296
125 .008505627
   
126 .008573963
127 .008642304
128 .008710649
129 .008778999
130 .008847353
   
131 .008915712
132 .008984076
133 .009052444
134 .009120817
135 .009189195
   
136 .009257577
137 .009325964
138 .009394355
139 .009462752
140 .009531152
   
141 .009599558
142 .009667968
143 .009736382
144 .009804802
145 .009873226
   
146 .009941654
147 .010010087
148 .010078525
149 .010146968
150 .010215415
   
151 .010283867
152 .010352323
153 .010420784
154 .010489250
155 .010557720
   
156 .010626195
157 .010694674
158 .010763159
159 .010831648
160 .010900141
   
161 .010968639
162 .011037142
163 .011105649
164 .011174162
165 .011242678
   
166 .011311200
167 .011379726
168 .011448256
169 .011516792
170 .011585332
   
171 .011653876
172 .011722425
173 .011790979
174 .011859538
175 .011928101
   
176 .011996669
177 .012065241
178 .012133818
179 .012202400
180 .012270986
   
181 .012339577
182 .012408173
183 .012476773
184 .012545378
185 .012613988
   
186 .012682602
187 .012751221
188 .012819845
189 .012888473
190 .012957106
   
191 .013025743
192 .013094386
193 .013163032
194 .013231684
195 .013300340
   
196 .013369001
197 .013437666
198 .013506336
199 .013575011
200 .013643691
   
201 .013712375
202 .013781063
203 .013849757
204 .013918455
205 .013987157
   
206 .014055865
207 .014124577
208 .014193293
209 .014262015
210 .014330741
   
211 .014399471
212 .014468206
213 .014536946
214 .014605691
215 .014674440
   
216 .014743194
217 .014811953
218 .014880716
219 .014949484
220 .015018256
   
221 .015087033
222 .015155815
223 .015224602
224 .015293393
225 .015362189
   
226 .015430989
227 .015499794
228 .015568604
229 .015637419
230 .015706238
   
231 .015775062
232 .015843890
233 .015912723
234 .015981561
235 .016050404
   
236 .016119251
237 .016188103
238 .016256959
239 .016325820
240 .016394686
   
241 .016463556
242 .016532432
243 .016601311
244 .016670196
245 .016739085
   
246 .016807979
247 .016876877
248 .016945780
249 .017014688
250 .017083601
   
251 .017152518
252 .017221440
253 .017290366
254 .017359297
255 .017428233
   
256 .017497173
257 .017566119
258 .017635068
259 .017704023
260 .017772982
   
261 .017841946
262 .017910915
263 .017979888
264 .018048866
265 .018117848
   
266 .018186835
267 .018255827
268 .018324824
269 .018393825
270 .018462831
   
271 .018531842
272 .018600857
273 .018669877
274 .018738901
275 .018807931
   
276 .018876965
277 .018946003
278 .019015047
279 .019084095
280 .019153147
   
281 .019222205
282 .019291267
283 .019360334
284 .019429405
285 .019498481
   
286 .019567562
287 .019636647
288 .019705737
289 .019774832
290 .019843932
   
291 .019913036
292 .019982145
293 .020051258
294 .020120377
295 .020189499
   
296 .020258627
297 .020327759
298 .020396896
299 .020466038
300 .020535184
   
301 .020604335
302 .020673491
303 .020742651
304 .020811816
305 .020880986
   
306 .020950161
307 .021019340
308 .021088524
309 .021157712
310 .021226905
   
311 .021296103
312 .021365306
313 .021434513
314 .021503725
315 .021572942
   
316 .021642163
317 .021711389
318 .021780620
319 .021849855
320 .021919095
   
321 .021988340
322 .022057590
323 .022126844
324 .022196103
325 .022265366
   
326 .022334634
327 .022403907
328 .022473185
329 .022542467
330 .022611754
   
331 .022681046
332 .022750343
333 .022819644
334 .022888949
335 .022958260
   
336 .023027575
337 .023096895
338 .023166220
339 .023235549
340 .023304883
   
341 .023374222
342 .023443565
343 .023512913
344 .023582266
345 .023651623
   
346 .023720986
347 .023790352
348 .023859724
349 .023929100
350 .023998481
   
351 .024067867
352 .024137257
353 .024206653
354 .024276052
355 .024345457
   
356 .024414866
357 .024484280
358 .024553699
359 .024623122
360 .024692550
   
361 .024761983
362 .024831420
363 .024900862
364 .024970309
365 .025039760
   
366 .025109217
367 .025178678
368 .025248143
369 .025317614
370 .025387089
   
371 .025456569

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