Tax

Category: W

  • Wage Bracket Method

    About Wage Bracket Method: Wage Bracket Method (withholding) is a method of computing the amount of income tax to withhold. Wage amounts are divided into brackets for weekly, biweekly, semimonthly, and monthly payroll periods. The table for each period is further divided by the number of dependents….

  • Westlaw

    Westlaw means:a computerized legal data bank available from West Publishing Company since 1975. It is solely a document retrieval system and does not interpret law….

  • Windfall Profit Tax

    Windfall Profit Tax means:a federal excise tax on the difference between the removal (sales) price and the specified adjusted base price of a taxable barrel of crude oil. See Excise and Excise….

  • Water's Edge Election

    Water's Edge Election means:a decision by a multinational corporation to limit a state's tax authority to the activities of the corporation that occur within the borders of the United States….

  • Working Interest

    Working Interest means:a customary seven-eighths interest that bears the cost of development and operation of an oil or gas property; the mineral interest less royalties paid….

  • Wraparound Mortgage

    Wraparound Mortgage means:a loan arrangement in which an existing loan is retained and an additional, larger loan, is made. The new lender accepts the obligation to make payments on the existing loan, which generally carries an interest rate below the rate available on new loans. Consequently, t…

  • Will

    Will means:a legal document that serves as a key vehicle of transfer at death. Within the document are specific instructions as to the disposition of the estate and the designated executor (executrix). If a person does not prepare a will, state law will govern the disposition of his or her prope…

  • Working Condition Fringe Benefit

    Working Condition Fringe Benefit means:a nontaxable fringe benefit from an employer consisting of property or services whose cost the employee could deduct if he or she had actually paid for them. Former IRC (check if this IRC provision …

  • Windfall Profit Tax Credit

    Windfall Profit Tax Credit means:an annual refund or credit of windfall profit taxes paid on taxable crude oil attributable to a nonoperating economic interest on up to three barrels per day….

  • Willful

    Willful means:intentional; used to describe an act undertaken with a bad purpose, without justifiable excuse, or stubbornly, obstinately, or perversely….