ADMINISTRATIVE NOTICE 95-21

SUBJECT: Notice of Adjusted Interest Rate on Tax Underpayments and Overpayments and on Public Contracts - For the Period of January 1, 1996, through June 30, 1996

West Virginia Code § 11-10-17a requires the Tax Commissioner to establish interest rates every six months based on the adjusted prime rate charged by banks. The interest rate shall not be less than 8 percent.

Notice is hereby given that the rate of interest on underpayments and overpayments of taxes, and on public contracts when final payment is delayed, will be 9 percent for the period beginning January 1, 1996, and ending June 30, 1996, inclusive.

James H. Paige III

Secretary/Tax Commissioner

Issued: October 16, 1995