W. Va. Code R. § 83-1-4

Current through Register Vol. XLI, No. 50, December 13, 2024

Section 83-1-4 - Interest

4.1. Article five, section seventeen, of the Law provides that "Payments unpaid on the date on which due and payable, as prescribed by the Commissioner, shall bear interest at the rate of one percent (1%) per month until payment plus accrued interest is received by the Commissioner." The Commissioner accordingly prescribes:

Interest prescribed by law on overdue contribution payments shall be computed from the day following the due date to and including the date paid. Interest due shall be computed at the rate of one thirtieth (1/30) of one percent (1%) for each day that contribution payments are overdue.