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.
escheatment - Investment & Finance Definition. A requirement that financial institutions report to the appropriate state when a brokerage account or other investment has been abandoned or unclaimed after a certain period of time. Each state specifies the length of the inactive period. A firm must make a diligent effort to find the account owner.