The West Virginia State Tax Department recently published Administrative Notice 2020-24 which provides information related to interest rates on underpayments and overpayments of taxes. These rates are established by the State Tax Commissioner by their authority under West Virginia Code §11-10-17 and §11-10-17a.
Beginning January 1, 2021 and ending on December 31, 2021, inclusive, the rate for underpayment of tax will be 7.75%. The interest rate for overpayments of tax will be 6.25%.
To review this notice in its entirety, please click here to visit the West Virginia State Tax Department online.