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W-2 form

A tax form provided to employees at the end of each calendar year, detailing their total earnings and amounts withheld for applicable federal, state, local and FICA taxes.


W-4 form

A tax form employers ask employees to complete at the time of hiring to determine appropriate tax withholding liability based on factors such as number of dependents and outside income.


Weighted average

An average of quantities that takes into account their relative importance in a data set instead of treating each quantity equivalently.  

Wellness program

Programs such as on-site or subsidized fitness centers, health screenings, smoking cessation, weight reduction/management, health awareness and education that target keeping employees healthy, thereby lowering costs associated with absenteeism, lost productivity and increased health insurance claims.


Wholly-owned subsidiary

A company that is entirely owned by another company.


Windfall profit

An unforeseen profit that occurs as a consequence of events beyond the recipients control.


Withholding tax

Income tax withheld from an employees wagesand paiddirectlyto federal, state and local governmentagencies by the employer.


Women-owned business enterprise

A for-profit enterprise, regardless of size, located in the United States or its trust territories, that is owned, operated and controlled by women. Ownership by women means the business is at least 51% owned by such individuals or, in the case of publicly owned business, at least 51% of the stock is owned by one or more such individuals. Further, women control the management and daily operations.


Workforce planning

The assessment of current workforce content and composition issues used to determine what actions must be taken to respond to future needs.


Work Opportunity Tax Credit (WOTC)

Authorized by the Small Business Job Protection Act of 1996 (P.L. 104-188), WOTC is a federal tax credit that encourages employers to hire nine targeted groups of job seekers by reducing employers federal income tax liability by as much as $2,400 per qualified new worker; $750 if working 120 hours or $1,200 if working 400 hours or more, per qualified summer youth.


Working capital

The amount of cash available to a business for routine operations.


World Trade Organization (WTO)

An organization that addresses global trade issues and seeks to settle international trade disputes.

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