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Rev. Rul. 79-189

Rev. Rul. 79-189; 1979-1 C.B. 293

DATED

DOCUMENT ATTRIBUTES

Code Sections
Section 2032A
Language
English
Tax Analysts Electronic Citation
not available

Citations: Rev. Rul. 79-189; 1979-1 C.B. 293

Rev. Rul. 79-189

This Revenue Ruling contains a cumulative list of the average annual effective interest rates on new Federal Land Bank loans to be utilized under section 2032A(e)(7)(A)(ii) of the Code in computing the special use value of real property used as a farm for which an election is made under the provisions of section 2032A of the Code. The interest rates listed are those applicable for the estates of decedents dying in 1977, 1978, and 1979. The rates applicable in the case of decedents dying in 1977 and 1978 were previously listed in Rev. Rul. 78-363, 1978-2 C.B. 232.

This Revenue Ruling also contains a list of the states within each land bank district.

Average annual effective interest rate to be utilized under section 2032A(e)(7)(A)(ii):

Federal Land Bank

District in which

property is located Year of death

___________________ ________________________________________

1977 1978 1979

Baltimore 8.65% 8.86% 9.04%

Columbia 8.58% 8.79% 8.96%

Houston 8.29% 8.48% 8.60%

Louisville 8.64% 8.80% 8.88%

New Orleans 8.26% 8.48% 8.72%

Omaha 8.70% 8.92% 9.05%

Sacramento 8.67% 8.82% 9.04%

St. Louis 8.50% 8.71% 8.93%

St. Paul 8.21% 8.47% 8.69%

Spokane 8.63% 8.88% 9.10%

Springfield 8.42% 8.55% 8.65%

Wichita 8.52% 8.72% 8.88%

Federal Land Bank Districts

District States

_________ ________

Baltimore Delaware, District of Columbia, Maryland,

Pennsylvania, Virginia, West Virginia.

Columbia Florida, Georgia, North Carolina, South

Carolina.

Houston Texas.

Louisville Indiana, Kentucky, Ohio, Tennessee.

New Orleans Alabama, Louisiana, Mississippi.

Omaha Iowa, Nebraska, South Dakota, Wyoming.

Sacramento Arizona, California, Hawaii, Nevada, Utah.

St. Louis Arkansas, Illinois, Missouri.

St. Paul Michigan, Minnesota, North Dakota, Wisconsin.

Spokane Alaska, Idaho, Montana, Oregon, Washington.

Springfield Connecticut, Maine, Massachusetts, New

Hampshire, New Jersey, New York,

Rhode Island, Vermont.

Wichita Colorado, Kansas, New Mexico, Oklahoma.

EFFECT ON OTHER REVENUE RULINGS

Rev. Rul. 78-363 is superseded.

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