What is a 'Tax Rate'. A tax rate is the percentage at which an individual or corporation is taxed. The tax rate is the tax imposed by the federal government and some states based on an individual's taxable income or a corporation's earnings. The United States uses a progressive tax rate system, where the percentage of tax increases as taxable income. Next Up.
Escheat is the reversion of property to a state when that property is lacking claimants or heirs. In the oil & gas industry, the property is usually an unclaimed oil and gas royalty or override payment.
Verb. 1. bequeath-leave or give by will after one's death; My aunt bequeathed me all her jewelry; My grandfather left me his entire estate. will, leave.leave behind, leave-be survived by after one's death; He left six children; At her death, she left behind her husband and 11 cats.equeath. 1. Law. To give (property) to another person after one's death: leave, will. Law: devise. 2. To convey (something) from one generation to the next: hand down, hand on, pass (along or on), transmit.